Like other school districts in Knox County, Knoxville School District 202 is expecting a revenue shortfall by the turn of the fiscal year.
Superintendent Steve Wilder told members of the board of education that with delays expected in early tax money, the district could see a significant deficit.
Wilder says that approximately 55% of the tax revenue received from early payments during May and June.
“If those early distributions are received after July first, it will have a significant impact on this year’s budget,” Wilder told board members Monday night. So take [the expected surplus of $194,287] and subtract that from $2.5 million and that’s the deficit that we will be required to file with the State of Illinois.”
Wilder stresses that tax money will be coming in, it just will most likely show up on next year’s budget – showing a massive surplus, and affecting the district’s financial rating for the next few years.
The board will have the final look at the 2019 budget at next month’s meeting.
Wilder also told board members that a state commission was attempting to reduce the number of school districts in the state by 25%.
He said that the commission would choose school districts to combine and force the consolidation question to the ballot in those districts.
“The vote is still up to the voters. The commission can force — Knoxville and ROWVA, for example, could force those two communities to put the question on the ballot the voters in both communities still have final say.”
He said that as the legislation is currently written, all affected communities would have to vote in the majority for consolidation for it to take effect.
Wilder said the legislation was believed to have been introduced to reduce the number of elementary school districts in Chicago and the suburbs.