• Our Finance FAQ form can be used to submit a question regarding New London-Spicer Schools current and forecasted finances. The form collects your name and email address so that we are able to reply to your question(s). Please note: We will do our best to respond in a timely fashion, however some responses may take 2-3 Business Days. Thank you. 

    Submit a Question Regarding our District's Finances


    THE MYTH #1: The District’s General Fund balance is just fine. 

    Myth-Busting Facts:

    ·    A 1.26% fund balance is too low – it is too close for the district to avoid getting into Statutory Operating Debt (negative fund balance).

    ·    It does not allow for any unforeseen circumstances or opportunities – like the Covid-19 pandemic or another serious situation.

    ·    A too-low fund balance ties the district’s hands to a reactionary position instead of a proactive one. 

    ·    When the fund balance is low, the district has to borrow money to meet payroll and other expenses. The interest costs are an unnecessary waste of taxpayer dollars. 

    MYTH #2 Students who enrolled out will return to the district once COVID-19 is under control. 

    Myth-Busting Facts: The district lost 40 students this school year which means $400,000 less revenue. Although we hope to gain back the students and families that left, we know some, if not many, will more than likely not be returning. They have found alternate solutions and we will need to figure out ways to attract new students and families while learning to adjust our budget without the $400,000 revenue they provided. 

    MYTH #3 The cuts the district made for this school year and next school year (over $1.2 million ) - due to not passing the 2020 referendum - will solve the district’s financial problems.

    Myth-Busting Facts: Some of these cuts, such as reductions due to retirements, are a one-year fix. Some of these retiree’s positions will not be filled, which will increase class sizes. In future years, there will be fewer retirements to assist with reductions in expenditures. Other cuts eliminate programs, such as 6th-period classes, will increase class sizes. Some, such as reducing staff development, are unsustainable. We need a long-term plan to avoid further reductions. The community will help us decide if additional revenue is part of that long-term plan. See website for specific details.

    MYTH #4: The current low fund balance the district is facing is due to poor financial decision-making. Just look at the football field and Performing Arts Center for how the district prioritized its spending.

    Myth-Busting Facts: The Performing Arts Center was funded by a voter-approved bond. The football field was funded with a lease purchase which allows school districts to levy for additional instructional space through board approval. The impact to taxpayers with this decision by the board of education was $1.08 per month ($13/year) on a home valued at $200,000. Both of these additions have brought revenue into the school district and we look to accelerate that revenue post COVID-19.

    MYTH #5: The district should cut the number of Paraprofessionals and Special Education student offerings to help manage the budget. 

    Myth-Busting Facts: The Individuals with Disabilities Act (IDEA) is a law that makes available a free appropriate public education (FAPE) to eligible children with disabilities throughout the nation and ensures special education and related services to those children. 

    Special education programming, including the support of a paraprofessional if needed, is tailored to meet the needs of students with disabilities. The services and supports one child receives may be very different from what another child receives. A child’s Individualized Education Plan (IEP) is just that… individualized. Cutting paraprofessionals and/or special education programming would be violating the IDEA as those services are written into IEPs of students in our district. In other words, it would be against the law.