EagleTribune.com, North Andover, MA

Merrimack Valley

February 25, 2013

School money at risk in Methuen

State says city is not spending enough

(Continued)

In fiscal 2012, Methuen spent $67,748,595, about $4.7 million, or 6.5 percent, below the $72,453,180. That is beyond the 5-percent buffer, and according to state law, the amount over that buffer – 1.5 percent in this case, which amounts to $586,663.53 using this year’s state aid – will be deducted from future Chapter 70 state education aid. The difference between actual and required spending also would be carried over and added to required spending for the following year.

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