District 202 expecting surplus in 2020 budget

The Knoxville School District 202 heard some encouraging words regarding the financial stability of the district at last night’s meeting.

Superintendent Steve Wilder presented a tentative budget for the fiscal year 2020, where he was projecting an over $2.3 million surplus.

Revenues are expected to be around $13,848,331 while expenditures are projected to be $11,535,889.

He said that the larger surplus was actually the early property tax money they had budgeted for last year but received late — in the new fiscal year.

Wilder said that even if the early tax money was taken out of the budget, the district would see a much smaller surplus.

“I would hope by the fiscal year, we’ve got a little bit more of a surplus than that. My goal when I’m building a budget is to underestimate the revenue a little bit and overestimate the expenditures just a little bit. We’ll see how things shake out as the school year goes but I am projecting a surplus of [$75,059]”

Wilder added he expects to tweak the budget a little before presenting it to the board again in September.

Tags: ,