District 115 Eyes Deficit Spending

You probably don’t need financial consultants to tell you that deficit spending isn’t good.

But financial consultants are going to present more detailed financial projections at the next school board meeting Feb. 28, Supt. Scott Wakeley said.

PMA Financial Network’s presentation will provide context for administrators’ ideas for cutting district costs in light of recent years of deficit spending, Wakeley. The projections will consider local property values, insurance costs, staffing patterns and enrollment.

The school district needs to tighten its belt just as many taxpayers have had to do in their personal budgets, Wakeley said.

“We’re not going to do the same old thing we’ve done and then go ask the taxpayers for more money,” Wakeley said.

This fiscal year, Yorkville Community Unit School District 115 plans to have $29.86 million in reserves after spending $57.03 million and taking in $55.59 million this fiscal year for a deficit of $1.44 million.

Those budget figures weren’t adjusted after the district approved a 3.29 percent raise for teachers, an average raise for administrators of 1.8 percent and a 2 percent raise for non-certified staff, such as secretaries and custodians. School board members approved those raises this winter, but they were retroactive to July 1.

With the district just over six months into the fiscal year that began July 1, district Business Manager Jacqui Parisi provided a snapshot of how closely the finances were aligning with this year’s budget at Monday’s board finance committee meeting. Here are some highlights:

• By the end of December, the district had received 53.6 percent of the expected revenues for the fiscal year but spent 45.5 percent of the budgeted amount.

• The district had $31.29 million cash in reserves on July 1, 2010, and expects to have $29.86 million on June 30, 2011.

• The state has paid its grant money notably late in recent years, but the district received all the state grant funds it expect last fiscal year. As of Jan. 1, the state owes the district $2.11 million, with some grants 100 days or more overdue.

• The district received 99.59 percent of the $44.15 million in property taxes it levied in 2009 in Kendall County and 95.86 percent of the $1.63 million it levied in Kane County. Those taxes were due in 2010.

Editor's note: You can view full District 115 financial reports (and all meeting-related documents) through a new online component in the district's website. BoardDocs allows users to download PDFs of any documents included in the school board meeting packets. You can enter that site here.