School Board Gives Okay to Budget
The outcome of the 2014 fiscal year budget for District 205 didn't seem to shock any Board of Education members.

The budget was approved by the board at Monday night's school board meeting.

One of the biggest talking points regarding the budget was the current costs associated with Operation Rebuild.

The district issued bonds back in 20-11 for Operation Rebuild and that money has been sitting in the operation fund waiting to be used.

Assistant Superintendent for Finance and Operations David Black explained because those bills are coming due the district has to account for that money.

"If you already had the money in the fund, it shows up in the fund balances and transfers rather than in revenue, therefore it looks like we have a huge deficit because we're now spending all of that money we've been saving all along, planning for the completion of Phase One," says Black.

Black said the actual deficit for the district is closer to two-point-three-million dollars, something the district was prepared for.

He said the finance committee will be getting together to help find cost cutting measures to reduce the deficit.
09 10 13 by Newsroom
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