Post by momto4 on Mar 11, 2011 13:37:53 GMT -5
www.dailyherald.com/article/20110310/news/703109913/
On the heels of a year spent slashing millions from its budget by cutting teachers, putting off major expenditures such as school repairs and reducing costs as mundane as lawn sprinkling, Indian Prairie School District 204’s financial forecast for fiscal 2011 looks stable.
Board President Curt Bradshaw called the forecast reassuring. “The hard work we did last year is paying off in terms of what has put us in a very positive position for the next three years,” he said, adding that the district should have a balanced budget for the next three years.
District 204’s financial outlook shows revenues and expenditures closely aligned for the next three years. This year, the district has budgeted revenues at $281.4 million with expenditures at $272.9 million.
While this year’s budget shows an $8.5 million surplus, the figure is a little misleading because it reflects overdue state payments to the district too late to be factored into last year’s finances. District 204 ended last year $5.6 million in the red and is planning for the likelihood that the state will continue to be behind in its payments. Right now, Illinois owes the district $8.7 million and by the end of this month the figure is expected to increase to $13 million.
“People see the size of our fund balance and their reaction is that’s a lot of money. But in reality you have to understand how money comes into the district,” said Dave Holm, assistant superintendent of business and finance.
In the upcoming weeks, district officials plan to give the board a prioritized list of building repairs that need to be done along with a request to replace outdated computers in the district. Funds could be found either by finding further ways to cut costs or by dipping into the surplus, Holm said.
“We’re recognizing technologically it’s becoming an issue for our teaching staff and whether or not they can do their jobs,” Superintendent Kathryn Birkett said. “It’s becoming an issue for whether or not we’ll be able to meet the needs of our kids when we’re giving assessments so we’re recognizing that technology is a big driver. With that we’re recognizing that we don’t want to fall too far behind on our buildings.”
On the heels of a year spent slashing millions from its budget by cutting teachers, putting off major expenditures such as school repairs and reducing costs as mundane as lawn sprinkling, Indian Prairie School District 204’s financial forecast for fiscal 2011 looks stable.
Board President Curt Bradshaw called the forecast reassuring. “The hard work we did last year is paying off in terms of what has put us in a very positive position for the next three years,” he said, adding that the district should have a balanced budget for the next three years.
District 204’s financial outlook shows revenues and expenditures closely aligned for the next three years. This year, the district has budgeted revenues at $281.4 million with expenditures at $272.9 million.
While this year’s budget shows an $8.5 million surplus, the figure is a little misleading because it reflects overdue state payments to the district too late to be factored into last year’s finances. District 204 ended last year $5.6 million in the red and is planning for the likelihood that the state will continue to be behind in its payments. Right now, Illinois owes the district $8.7 million and by the end of this month the figure is expected to increase to $13 million.
“People see the size of our fund balance and their reaction is that’s a lot of money. But in reality you have to understand how money comes into the district,” said Dave Holm, assistant superintendent of business and finance.
In the upcoming weeks, district officials plan to give the board a prioritized list of building repairs that need to be done along with a request to replace outdated computers in the district. Funds could be found either by finding further ways to cut costs or by dipping into the surplus, Holm said.
“We’re recognizing technologically it’s becoming an issue for our teaching staff and whether or not they can do their jobs,” Superintendent Kathryn Birkett said. “It’s becoming an issue for whether or not we’ll be able to meet the needs of our kids when we’re giving assessments so we’re recognizing that technology is a big driver. With that we’re recognizing that we don’t want to fall too far behind on our buildings.”