NORTHBOROUGH, Mass. — Algonquin Regional High School will return $117,654 in extra Chapter 70 funds to Northborough and Southborough, Superintendent Charles Gobron said at Wednesday’s Regional School Committee meeting.
This is due to the actual level of state aid to schools being higher than predicted when Gov. Deval Patrick proposed the state’s FY2013 budget in January, Gobron explained.
He added that it has been five years since this has happened; the last time was when the state was formulating it’s FY2008 budget. In the years since, Gobron said, Chapter 70 funds have either been the same or lower than what the state has predicted.
Because both towns base their own spending and assessment levels on the governor’s budget proposal when they hold their town meetings in April, Algonquin is required to return the extra funds to them. Gobron said that Northborough will receive $67,098, while Southborough will receive $50,556.
“It doesn't change our budget,” Gobron said. “It just changes the assessments."