District 99 to Consider 2012-13 Budget, Five-Year Financial Forecast

will consider Monday the adoption of a $77.8 million operating budget for the 2012-13 school year.

The District 99 school board is expected to approve the budget during its monthly business meeting, which will be held at 7 p.m. at the Administrative Service Center, 6301 Springside Ave.

The tentative budget was approved during the board's July 16 board meeting, and has been on display on the district's website, all district buildings and local libraries ever since.

Total operating expenses for fiscal year 2013 are projected at $77.8 million, while operating revenues are expected to be about $80.2 million. However, the district is expected to transfer $2.1 million to pay down long-term debt, and another $780,000 to cover critical plumbing repairs at Downers Grove North—bringing the operating fund balance to $5,165,872 by June 2013.

The net change is about $400,000 less than last year, when the district ended the year with $5,565,872.

The $5.2 million in reserves represents 6.4 percent of revenue, which still exceeds the 3 percent benchmark that would require the board to establish a corrective action plan, according to District 99 Controller Mark Staehlin.

Total revenue is expected to increase by 2.1 percent, with property tax revenues increasing by 2.2 percent.

Salaries for ongoing staff are expected to increase by less than 2 percent overall, and the cost of additional certified staff will increase about 0.7 percent.

Staff salaries and benefits make up about 78 percent of total operating expenditures, according to district documents.

As part of the budget discussion Monday, Staehlin will also present the district's five-year financial forecast to the board.

The forecast uses historical averages to predict future trends in new construction, property tax revenue, interest rates and state funding, among other factors.

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