Derry, New Hampshire is spelled "Dairy" [sic] in the film. It is also spelled "Dairy" in John Irving's original novel which this movie was based on. Nonetheless, the town of Derry's high school is a private school just as in the film (i.e., the town pays tuition for its students to attend the private school). Its name is Pinkerton Academy and its colors are red and silver/white, vice the "Dairy High School" and blue and white of the film.
In the award ceremony scene, numerous Austrian flags are show, but all are the civil/merchant version. As an official government function, the flags would have been the state flag (the government flag.) Unlike the United States, Austria and many other nations have multiple national flags for different purposes (government, civilian/merchant, military, on shore versus afloat, etc.) Austria's state flag bears the national coat of arms in the centre, overlapping into both of the red bars. The vertical version of the state flag has the coat of arms turned 90 degrees and placed within a shield. None of the flags in the scene bore the coat of arms.