District 87 Sees Additional State Funds In 2019 Budget | WGLT

District 87 Sees Additional State Funds In 2019 Budget

Sep 27, 2018

District 87's final budget approved Wednesday night shows increased revenue in the education fund due to the state's new evidence-based funding model for K-12 schools.

District 87 Chief Financial and Facilities Officer Colin Manahan said that increase is over $230,000 in the 2018-19 budget. But payroll increases due to new hires brings that total down.

“We had to adjust our salary and benefit expense by increasing it $204,000, and that effect on the education fund was an overall increase in revenue of approximately $30,000,” he said.

Illinois’ new school funding plan, approved last summer in Springfield, requires calculating the exact amount each district needs to supply adequate education, and comparing that to how much money the district can raise through reasonable property tax rates.

The District 87 school board approved its $73.5 million operating budget Wednesday night. The education fund is its largest fund.

The board also approved salary increases for the custodial and maintenance department, which increased expenses in the operations and maintenance fund.

“As a result of this contract being approved and again, salaries, it was an ... $89,000 increase in expenses in the operations and maintenance fund,” Manahan said.

The tentative budget presented earlier this year reflected an incorrect estimate in the district’s annual debt service. After correcting the “inadvertent error,” Manahan said that change was also reflected in the approved budget as an additional $512,000.

Manahan said this update did not have an impact on the overall operations budget. He compared it to paying off a house loan.

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