Niles schools make dip into fund equity

Published 5:50 am Friday, June 17, 2005

By By ERIN VER BERKMOES / Niles Daily Star
NILES - Monday evening the Niles Community Schools Board of Education is expected to dip into its fund equity in order to balance the budget.
At the 7 p.m. meeting the board will most likely make an amendment to the district's general fund budgets which has an increase in revenue for the district of $198,800 and a decrease in expenditure of $29,599.
The total revenues are set at a total of $32,724,200 and total expenditures set at $33,110,629.
Law added when the final audit of the district comes in the district may only actually have a deficits of about $200,000.
The board will also be adopting the 2005 – 2006 Operating, Debt Fund and School Service budgets which show revenues of $33,369,000 and expenditures of $34,482,780; the School Service budget shows revenues of $2,024,000 and expenditures of $2,033,000.
The board will also certify the districts millage. They will authorize a maximum total level of 18 mills on non-homestead property (second homes and businesses) for operating purposes for the 2005-2006 school year. The board will also authorize a maximum total of 1 mil for the building and site fun for the 2005-2006 school year.