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On Sept. 21, the District 65 School Board approved a final budget for fiscal year ending June 30, 2016 (FY’16). Operating revenues are projected at $111.7 million, up 3.7% from the prior year. Operating expenses are projected at $110.6 million, up 3.6% from the prior year. The operating budget has an operating surplus of $1.1 million.
The District plans to use $900,000 of the surplus to prepay expenses in FY’17 and to bring a projected deficit for that year down to about $731,866.
One major change from the tentative budget that was approved last month is an increase in expenses by $326,459 for additional instructional and support positions to accommodate higher student enrollment and programmatic needs.
For more detailed articles concerning the budgeting process, see the online version of the RoundTable at evanstonroundtable.com