WESTPORT — Education officials have an early holiday gift for the town’s coffers.

Nearly $1.2 million.

That figure — $1,196,481.31 — represents the cumulative amount the Board of Education approved Monday night to return to the town’s general fund from unexpended funds over the last two fiscal years. The fiscal transfers were approved unanimously by the six board members present at the meeting.

The largest share of that amount is $675,000 from the “carryover account” in the school board’s budget, which was swelled by grants “for reimbursement of expenses related to the Covid-19 pandemic in an amount higher than originally anticipated,” the board said in a statement.

The returned carryover funds represent about half the amount of that account’s current total funding, officials said.

The next largest share of the money is $432,463.73, representing balances in operating funds and two other accounts in the 2020-21 budget of roughly $121.9 million. That fiscal year ended June 30.

Finally, $89,017.58 of the overall amount is from the 2019-20 operating budget, which ended in June 2020. The figure is a net favorable balance realized “per the final reconciliation” outlined in the 2021 fiscal year End-of-Year Financial Report.

New contractor for Saugatuck roof job

In unrelated money matters, the school board Monday night approved awarding a contract of $1,442,000 to partially replace the Saugatuck Elementary School roof to a new contractor.

In a statement, school officials said they rescinded a May decision to award the contract to Silktown Roofing, Inc., “based on said contractor’s inability to deliver on the proposed timeline.”

Instead, the panel voted to award the roofing job to Greenwood Industries, Inc., for an amount not to exceed $1,442,000 (including a 10 percent owner’s contingency).

The work is expected to take place next summer.

The action was taken by a unanimous vote.