OLD TOWN — The School Department ended the 1989-1990 fiscal year with a $3,000 balance on a $6.8 million budget, according to Superintendent John J. Grady.

“It was a hook slide at home plate just ahead of the tag,” Grady told the School Board Tuesday night.

Last year, he said, the department ended the fiscal year with a balance of $310,000. Therefore, school officials will begin planning for the 1991-1992 school year with $300,000 less than they did the year before, he said.

Factored into that equation, according to Grady, are the possible effects of the state’s early birthday present to Old Town — an announcement that valuation estimates had caught up with recent construction in the city, resulting in a $100 million increase.

Although that figure is still preliminary, according to city officials, it represents an increase of 34 percent. The average valuation increase in the area was about 17 percent.

Grady said Tuesday that the difference could translate into a 10 percent loss in state aid.