Schools

District 61 Presents Tentative 2012 Budget

Financial document is unbalanced but officials say that is according to plan.

 expects to spend more than it will take in next year—but it’s a planned deficit, said district Business Manager Megan Stoltz during Tuesday’s board meeting.

The deficit spending was approved in January in conjunction with the board’s decision to , which will cost about $560,000 in fiscal year 2012.

According to the tentative draft of the FY 2012 budget that Stoltz presented at Tuesday’s meeting, the district will spend roughly $459,000 more than it takes in the coming year. The school board unanimously approved the tentative budget after the presentation.

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“It’s a planned deficit but we had the revenue to cover it,” Stoltz said.

The money will come from the working cash fund, which had a balance of about $1.9 million as of July. Stoltz said she anticipates that fund will have a balance of roughly $1.3 million in June 2012, the end of the next fiscal year.

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Overall, the district plans to spend $18,315,008 during FY 2012, while it expects to take in $17,855,548.

While the technology expenses were planned, Stoltz said a bigger challenge has been determining 2012 revenues in the transportation fund.

The state slashed funding for school transportation in the budget Gov. Pat Quinn signed at the end of June. Schools, however, have yet to learn exactly how much money they will get to supplement transportation costs.

Transportation costs are a particular concern for special needs students who live in the district but may need to attend particular schools in other towns. District 61 is required to subsidize their transportation, no matter how far away the other school is.

“Until we actually see [the figures], who knows what’s going on down there,” Stoltz said. “The best case scenario is [the funding is] back. But even if it’s back, it’s not back in full.”

To prepare for the possible shortfall, Stoltz budgeted about $71,800 less for transportation in FY 2012.

The district saved money in 2011 in some places, Stoltz said. The education fund balance for FY 2011 is projected to be $7.1 million, higher than anticipated. She projected that fund will earn about $109,000 in 2012.

The tentative FY 2012 budget is available for inspection until Sept. 27 at the District 61 office. A public hearing is scheduled to be held before the Sept. 27 board meeting, after which the board will vote to adopt the budget.


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