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|New State Budget Does District 205 No Favors
|The Galesburg School District is still showing a surplus in its budget following Wednesday's passage of a state budget, but that budget could very well have put district finances in a tailspin.
District-205 Assistant Superintendent for Finance and Operations Guy Cahill told the school board's finance committee yesterday that what was originally budgeted for as a $231 increase in the per-pupil spending rate as part of the state's foundation level, turned into a $160 increase by the time the budget passed Wednesday.
Cahill says that made for quite a difference in the budget that had been presented to the school board Monday night. "The (Education Fund) showed a surplus of $120,000," Cahill said. "So (the funding cut resulted) in a $300,000 swing to the negative. If you exclude Working Cash from the operating revenues, we would show ourselves spending more than we're taking in. But fortunately, from a state perspective, we can count that in terms of calculating our financial health. So we're still showing a surplus budget."
Cahill says, however, there are still some uncertainties with the budget -- what property values will come in at, how much of a decline there will be in income through corporate tax dollars which could be down as much as 21 percent, and what will happen with contract negotiations with the Galesburg Education Association, which now requires the use of a federal mediator.
What's more, some of the funding given to schools, Cahill says, is at the discretion of the Governor.
Final adoption of the budget will come in September.
|07 17 09 by Newsroom
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