Post by title1parent on Feb 11, 2009 6:03:20 GMT -5
www.dailyherald.com/story/?id=271109&src=76
District 200 looking for ways to cut budget deficit
By Robert Sanchez | Daily Herald 2/11/2009
An advisory panel is expected to offer suggestions for how Wheaton Warrenville Unit District 200 can reduce a projected $14 million budget deficit.
The district already was facing a multimillion-dollar deficit when the special finance committee was formed last year to suggest possible budget cuts and new sources of revenue.
But a decline in new property tax dollars and state funding could mean the district will have less revenue in its 2009-2010 spending plan.
"We are looking at our actual overall revenue going down next year," said Bill Farley, assistant superintendent of business operations.
"We knew we had to do some things," Farley said. "The problem is that the situation has just gotten worse."
Roughly 80 percent of District 200's revenue comes from property taxes, officials said. The rest comes from the state and federal governments.
District officials already have been informed they shouldn't expect additional state money. In fact, the district could lose about $3 million in general state aid next year.
Meanwhile, the levy - the portion of the district's budget paid for with property taxes - is limited by the state-imposed property tax cap to 5 percent or the rate of inflation, whichever is less.
As a result, the levy that funds part of next year's budget will be capped at 0.1 percent, not including an allowance for property that has been added to the tax rolls.
"The CPI (Consumer Price Index) was 5.6 (percent) in July," Farley said. "It was still over 4 in September. So for it to drop that dramatically was just devastating."
At the 0.1 CPI, District 200's total levy is expected to increase by roughly $100,000.
Farley said school districts simply aren't exempt from the economic downturn.
"We're not any different from a lot of the private companies that are having to take action to address what's going on in the economy," he said.
Specifics about the finance committee's recommendations won't be released until after school members hear a report during tonight's meeting, which starts at 7:30 p.m. at Washington Elementary School, 911 Bridle Lane in Wheaton.
School board members are slated to talk about panel's findings on Feb. 25. No changes are expected to be voted on by the board until next month.
District 200 looking for ways to cut budget deficit
By Robert Sanchez | Daily Herald 2/11/2009
An advisory panel is expected to offer suggestions for how Wheaton Warrenville Unit District 200 can reduce a projected $14 million budget deficit.
The district already was facing a multimillion-dollar deficit when the special finance committee was formed last year to suggest possible budget cuts and new sources of revenue.
But a decline in new property tax dollars and state funding could mean the district will have less revenue in its 2009-2010 spending plan.
"We are looking at our actual overall revenue going down next year," said Bill Farley, assistant superintendent of business operations.
"We knew we had to do some things," Farley said. "The problem is that the situation has just gotten worse."
Roughly 80 percent of District 200's revenue comes from property taxes, officials said. The rest comes from the state and federal governments.
District officials already have been informed they shouldn't expect additional state money. In fact, the district could lose about $3 million in general state aid next year.
Meanwhile, the levy - the portion of the district's budget paid for with property taxes - is limited by the state-imposed property tax cap to 5 percent or the rate of inflation, whichever is less.
As a result, the levy that funds part of next year's budget will be capped at 0.1 percent, not including an allowance for property that has been added to the tax rolls.
"The CPI (Consumer Price Index) was 5.6 (percent) in July," Farley said. "It was still over 4 in September. So for it to drop that dramatically was just devastating."
At the 0.1 CPI, District 200's total levy is expected to increase by roughly $100,000.
Farley said school districts simply aren't exempt from the economic downturn.
"We're not any different from a lot of the private companies that are having to take action to address what's going on in the economy," he said.
Specifics about the finance committee's recommendations won't be released until after school members hear a report during tonight's meeting, which starts at 7:30 p.m. at Washington Elementary School, 911 Bridle Lane in Wheaton.
School board members are slated to talk about panel's findings on Feb. 25. No changes are expected to be voted on by the board until next month.