The New Milford school district had a $786,775 year-end surplus balance for 2012-13 by unaudited figures.

Significant savings were made though the retirements of 26 certified staff members, as well as state reimbursements amounting to about $200,000.

The Board of Education will meet on Sept. 10 to discuss and act on a recommendation the surplus funds be moved to the town's capital reserve account by the Town Council.