District 95 Approves Balanced Budget

The Board adopted its balanced 2011-12 budget of $89 million on Thursday night.

Although District 95 will see a $405,000 reduction in state funding from last fiscal year, it is still projecting a $294,574 ending balance. Expenditures are projected to total $88.7 million.

“It looks like we’ll be in good shape this year,” said Vicky Cullinan, assistant superintendent of business and operations.

The education fund shows a projected $61.6 million in revenues, up $1.5 million from last year's projected numbers.

“The highest part of our funds goes toward instruction, which is teacher salaries at $42,407,308,” said Cullinan.

Despite the lack of new growth in the community, declining enrollment, and reductions in state funding, District 95 did not reduce staff or services.

“I don’t think we count on new development in the next couple of years,” said board member Mike Finn.

Expenditures are up $1.8 million from last year's budget. That accounts for just over $2 million in salaries and benefits, $940,590 in capital expenditures, $485,916 in transportation expenditures, and a little more than $1 million in capital projects.

General state aid and other state funding sources that help pay for programs like special education, English language learners, and transportation are coming in late and are being reduced. Categoricals that are being eliminated are the Text Book Loan Program, ADA School, Safety and Education Grant, and Reading Improvement Block Grant.

“Looks like we’re in good shape this year, but moving forward we need to watch the expenditure side because we can’t control the revenue side,” said board Vice President Doug Goldberg.

“We are starting to do a lot of 'what ifs' right now, showing the worst-case scenarios giving us some planning options for the future” said Cullinan.