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D150 Deficit Grows



Peoria School District 150's tentative budget is written with more red ink.

D150 expects to end the current fiscal year with an operating fund deficit of $12.25 million. The district ended its last fiscal year June 30 $5.7-million in the hole.

Revenue from property taxes and general state aid are forecasted to be rather flat, but the district expects to get $5-million less in federal grants.

Spending for salaries and benefits, which accounts for nearly 80 percent of the district's expenditures, is up $961,000.

Chief Financial Officer Mark Wilcockson will explain the budget in further detail during Monday's school board meeting.

The tentative 2014-15 budget can be seen here. The budget is also on public display at the administration building the next 30 days before the school board formally votes to approve the spending plan during its September 22 meeting.

 

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