Derry school district could adjust budget for ACA penalty
The committee has been meeting with school officials in recent weeks to discuss the proposed budget, which stands at $78,753,801.12, with the Obamacare penalty funds included, said Jane Simard, the school district's business manager. Last year's voter approved budget was $79,403,690.54.
But since the money was set aside last year, administrators have determined that many school district employees who might have qualified for subsidized insurance have proof of other coverage, such as through a spouse, and wouldn't be participating in the program. So, a large portion of the funds wouldn't be utilized, Kennedy said.
A small portion of the approximately $200,000 might still be set aside in case the district has to pay any penalties, Simard said. There could still be from two to three employees receiving subsidies and the district might in turn be required to pay penalties for those employees, she said.
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