Education Fund Deficit Blamed on State
During a couple of lengthy presentations, the District 205 budget committee sought ways to plan for the fiscal year 2014 budget.

As it stands right now, the district plans to adopt the budget in September of this year, but the committee agreed that additional planning was needed.

Thanks in part to a slump in state aid, Superintendent for Finance Jim Rich said the current education fund has a deficit of 600-thousand dollars.

80 percent of expected state aid will be received this year, meaning the district will miss out on another 700-thousand dollars - putting the total at 1.8-million.

Rich says he doesn't want to scare the committee, he just wants to be honest.

"We have a cap in the education fund that we can only go 2.73 we can't go above that, so we can't collect locally money, the state is giving us less money, the Federal Government is talking about sequestering money. Long term I think the locals are going to be called upon on more and more to take over the burden of funding schools."

In the Districts latest financial profile, District 205 received the highest possible financial scores in 4 out of 5 categories.

Long-term debt margin received a 2, but given the Master Facilities plan, the district only funded 37%.

Rich said it's unfortunate that the district was docked for trying to plan ahead.
02 22 13 by Newsroom
News management powered by Xpression News