News Releases
District 15 Tentative Budget Presented
May 15, 2007
A tentative balanced budget for the 2007-08 school year has been presented to the Community Consolidated School District 15 Board of Education. A public hearing on the budget will be held at the June 13 Board of Education meeting, and board action is expected at that time.
“This marks the second consecutive year that District 15 has had a balanced operational budget,” noted Kevin J. Nohelty, assistant superintendent for business and auxiliary services. Budget expenditures are projected to be $143.7 million, while anticipated revenues are $144 million. “Significant cost reductions over the last four years, increased interest earnings, restructuring of existing debt and re-negotiated labor contracts have allowed the district to better align annual expenditures with annual revenues,” Nohelty said.
“We have also increased fund reserves to an appropriate level of 36%, which is equal to four months of expenses,” Nohelty noted. “The end result has placed the district in a financially sound position as recognized by the Illinois State Board of Education’s ‘Financial Recognition’ designation, the highest category of financial strength.”
Highlights of the budget include purchase of new resources to enhance math instruction for all students, added technology resources to support the curriculum, the addition of 25.20 full-time equivalent certified staff (teachers), funds for further staff development, and maintenance of the district’s specialized reading intervention programs.
The tentative budget represents months of work by district budget managers and a thorough review by the Board of Education. “The budget development has been difficult due to the many challenges and demands in meeting the instructional needs of students,” said Superintendent Dr. Robert A. McKanna in presenting the budget to the board. “This budget will support and enhance the quality educational system this community has come to expect and deserve.”
To view the budget and related documents, go to the District 15 Web site at www.ccsd15.net, and click on “Budget” in Quick Links.
|
