The Selectmen and School Committee on Wednesday agreed to divide the nearly $1.2 million deficit in next year's budget by some percentage each, though what the  percentages will be has not yet been decided.

The boards were meeting for the first time since Town Meeting voters agreed to give the town and School Department extra time to surgically trim their respective budgets, as the $1.2 million deficit still lingered during April Town Meeting. Voters will be asked to approve a budget when Town Meeting reconvenes June 18.

Because the School Department's budget accounts for approximately 65% of the town's overall budget, Town Administrator Derek Sullivan proposed that the School Department absorb 65% of the deficit and the town deal with of 35%.

With those percentages, the School Department budgets -- classroom expenses and transportation expenses -- would have to be cut by nearly $780,000, and the municipal budget would have to be cut by nearly $420,000.

Superintendent Dr. Barry Rabinovitch hoped the split could be 62% on the schools' side and 38% on the municipal side.

"Let's split the difference," the superintendent proposed, which would be 63.5% on the schools' side and 36.5% on the municipal side.

But some were unsure about the proposed split.

"I think it's really difficult to say that the average importance of everything the non-school side does is equal to the school side," argued School Committee member Geoff Swett.

Approximately $151,000 of the deficit is part of the school transportation budget. The Members of the School Committee seemed to agree that the transportation budget should be cut by that much -- which would require a reduction in busing services -- but no vote was taken on Wednesday.

Selectmen and School Committee members noted that with the relatively short timespan between now and June 18, the boards would simply have to agree on a percentage and decisions would have to be made as to where to cut.

"We could go back and forth, but we have to come up with a number," said Rabinovitch, noting that he hoped the boards would decide on the percentages to split the deficit on Wednesday, so cutting discussions could begin. "It's at least a million dollar problem that we share."

Members of both boards agreed that there isn't enough time to consider how the town and the School Department might combine resources, nor is there enough time at this point to establish priorities for the town, which would help officials determine where to cut.

"We know that this meeting is about cutting and I don't think there is any member of any one of our boards that feels that there is any money to cut in our budget, but it is necessary for this year," School Committee Chair Rhonda Veugen said as she opened the meeting. "I hope ... that we work together to seriously help both of our administrators find new revenue for this town."

That sentiment was echoed throughout the meeting.

"How we restructure something down the road, how we spend money later on, has nothing to do with this. We are in a cut situation, folks," said Selectman Patrick Tropeano. "We're going to cut right now and none of us are going to like it."

Selectman Steve Holmes proposed that the School Committee and Selectmen assume that the deficit will be split 63.5% and 36.5%, respectively, and that the superintendent and town administrator bring a list of what will be cut to the next meeting of the boards.

"Sitting here talking about numbers in virtual space is crazy," he said.

Before the end of May, the boards have to agree on a percentage for how to cut the deficit, each board needs to agree upon where to cut, and the recommendations must be given to the Finance Committee so it can review the budget before it goes before Town Meeting on June 18.

The School Committee and Selectmen will meet again on Thursday, May 9, at 6:30 p.m. in the Wareham Middle School library.