MIDDLEBORO — Middleboro has received $225,000 more than anticipated in school aid from the state, which will help offset the six percent budget increase the school district received, according to information presented at a financial forum held Wednesday, Aug. 14 at the Middleboro Police Station.

Superintendent of Schools Carolyn Lyons described the increase as “promising news.’’

The new figure will now be “baked in’’ into the starting numbers for the school budget, Lyons said, since the figure will be unlikely to decrease in future state budgets.

The forum, which Town Manager James McGrail said will become an annual event, brought together members of the Select Board, School Committee and Finance Committee to review the town’s current finances and look ahead to the future.

“The town’s overall finances are in solid shape,’’ McGrail said. “As long as the economy continues to grow we will stay that way.’’

A key component to financial budgeting is open communication and transparency, various board members said. Lyons, McGrail, town Director of Finance Sue Nickerson and Michael Perrone, Director of Business and Finance for the school district, meet regularly to review the overall financial situation, McGrail said.

Going forward, Nickerson said, town budget estimates will factor in revenue and expense increases of 2.5 percent per year, with the exception of six percent for health insurance costs.

McGrail noted that the town tends to budget “conservatively.’’ Building permits and housing construction have not increased recently, he said, which is why projects such as Rexa, a company looking to build its headquarters on West Grove Street, are important. Although they are seeking some tax relief, the company will still add to the tax rolls, both short and long-term.

McGrail also pointed to several numbers that he said reflect positively on Middleboro.

In a comparison with 12 nearby communities, Middleboro ranked fourth with a total property value of $3.5 billion. Only Plymouth, Taunton and Wareham had higher amounts.

This was particularly noteworthy, he said, because the town still maintains what he described as significant amounts of open space.

Middleboro has also grown a stabilization fund to over 6 percent of the town’s operating budget, McGrail noted, with a goal to reach 8 to 10 percent.

A stabilization fund consists of is money set aside either for unforeseen needs or for capital projects.

Using stabilization funds requires a two-thirds Town Meeting vote, which McGrail described as a good way to determine whether the spending is needed.

He described stabilization funds as a “super rainy day fund.’’ Requiring a two-thirds vote means it “takes a real conversation … makes us really think about whether to spend it.’’

Concerns have been raised by some in the community that the school department’s current $40.5 million budget relied on sources such as grants and revolving funds that are not sustainable going forward.

Lyons said Wednesday that the district is taking several steps to reduce the expenses required from these alternative funding sources. These include included placing a budget freeze on certain expenses as of Feb. 6, 2024 and prepaying some special education tuition.

These strategies resulted in fewer expenses coming from one-time money in Fiscal Year 25. The exact savings amount will not be known until at least next spring, she said.

Developing a school budget blends the need for a strong school system for students while keeping fiscal concerns in mind, she said.