District 113A Adopts Second Consecutive Balanced Budget

For the second year in a row, will operate under a balanced budget.

During its monthly business meeting Tuesday night, the  Board of Education unanimously approved the district's 2011-12 budget.

Business Manager Barbara Germany provided the board with information regarding revenue and expenditure projections, as well as an update on tax anticipation warrants.

Under the approved operating budget, the district is projecting $21.6 million in revenue and $18.6 million in expenditures — giving the district a projected positive balance of about $2.98 million on June 30, 2012.

Across all funds, the district is projecting a surplus of about $3.37 million.

The district's anticipated expenditures by fund (operating and nonoperating) are as follows:

• Education: $15,984,240 (69 percent)
• Operations/maintenance: $1,502,119 (7 percent)
• Transportation: $1,130,091 (5 percent)
• Debt service: $3,871,500 (17 percent)
• IMRF/Social Security: $563,655 (2 percent)

Germany said she performed a "line-by-line analysis of expenditures" as she prepared the final budget for the board.

"We looked at each item, talked to department heads and asked them to justify all expenditures," she said.

In estimating the district's expenditures over the next year, Germany said she also took into account a reduction in technology services, limited staff development opportunities, continued elimination of extracurricular programs, and decreased administrative and transportation services.

This year, general state aid has been reduced to 95 percent, Germany said. The district expects to receive two payments over the course of the year for categoricals, with the exception of transportation, which is projected at three.

The school district is scheduled to pay off its current round of tax-anticipation warrants — $5 million plus interest — to on Dec. 31, 2011. will need to issue an estimated $2.8 million in tax-anticipation warrants in January 2012, and another $1.8 million in November 2012.

Based on projections, the district is scheduled to eliminate the need for short-term borrowing by January 2013, Germany said.

Superintendent Tim Ricker said the budget will be sent to the Illinois State Board of Education on Wednesday.

State officials are also awaiting the district's annual Financial Report, which will include the audit of fiscal year 2011, Ricker said.