Tentative Budget - At the August Board of Education, Dr. Tignor informed the Board of the process of the Tentative Budget. The documents reviewed at the meeting are attached below. These documents will be available for public inspection for the next 30 days. At the September 14, 2015, Board of Education Meeting the Board will hold a Public Hearing on the budget and then take action.
Budget Summary - Expenditures continue to outpace revenues. D52 will be again be in deficit spending for the 2015-2016 school year. The overall Operating Fund deficit will be around $1,176,000.
Deficit Detail - So the big question is - What causes such a large deficit?
First, there is a lack of funding, $305,000, most of which is the State of Illinois budgets cuts to school districts. For D52 that is around $200,000.
Second, there are increased expenditures. Most of the increase is due to insurance premiums increases, contractual salary increases, and increases in other services.
Finally, there are capital projects. The $235,000 for these projects (gym floor/bleachers/WMS entrance/etc.) are from the Bond Reserves. These funds are required to be spent only on these type of expenditures.
This list is a general representation of the big ticket items that create the overall budget deficit.
Budget Comparison FY15 to FY16 - Dr. Tignor reviewed the FY14 (Fiscal Year 2014 - or 2013-14 School Year) and FY15 revenues and expenditures as compared to the FY16 tentative budget.
Expenditure Detail - This document provides detail of expenditures by object and fund.
Revenue Detail - This document provides detail of revenues by source and fund.