There are several reasons the District 87 School Board recently approved a budget with a 1.4-million-dollar deficit in the education fund.
Among them, Superintendent Barry Reilly said, is that even though the state state increased local school funding they took money away in another category.
"They took about a hundred million dollars in the corporate property taxes that go to public schools and they've shifted that to higher ed. And so, in our case the extra state money that we received is basically offset by that amount of money leaving in corporate," said Reilly.
Speaking on GLT's Sound Ideas, Reilly said property values are only now starting to grow slightly again after a sharp drop in 2008. And he said expenses continue to rise.
Reilly said they have reserves created by a working cash fund bond, but it's possible the district will have to create a deficit reduction plan next spring.
If and when that occurs we will probably be looking at programs, and we haven't had to do that yet," said Reilly.
Reilly said he is optimistic the task force looking at the school funding formula will get something done. He said the state desperately needs a new formula, even if neither major approach to the issue would significantly benefit schools in the twin cities.
Kids are also heading back to school in Bloomington Normal. GLT's Charlie Schlenker talked with Reilly, who said enrollment is about what they expect in the historically stable ten square mile district.
