Archived Story

Niles schools in the red next year

Published 6:41pm Tuesday, June 19, 2012

Niles Community Schools is expecting to spend about $1.2 million more than it takes in next school year.

The 2012-13 general fund budget, adopted Monday by the school board, shows revenues projected at $32.8 million and expenditures at $34 million. That means the district will have to draw $1.2 million out of its fund equity — or savings — to balance the budget.

State law requires school districts to approve balanced budgets before June 30.

Tom Skarbek, district financial manager, said the district has about $2.8 million remaining in fund equity, or roughly 8 percent of its annual expenditures. Fund equity is expected drop to about $1.6 million at the end of next school year.

According to the budget, total revenues for 2012-13 ($32.8 million) are about $1 million less than received in the previous school year ($33.9 million).

Budgeted expenses for 2012-13 ($34 million) are down around $1 million from expenditures last school year ($35.1 million).

Skarbek said the district budgeted a loss of 26 students for 2012-13, bringing its blended enrollment count to 3,831.

By using this website’s user-contribution features, including comments, photo galleries, or any other feature, you agree to abide by the terms of use. Please read this agreement in its entirety because it contains useful information that will help you better understand the rules and general "good manners" that are expected when contributing content to this website.

Editor's Picks

surplus