By Patrick Baron
BLOOMINGTON – Bloomington’s District 87 school board has approved a $50 million budget for the new school year that is $2.4 million in the red.
The board will shift dollars from the working cash fund to cover the deficit. Superintendent Barry Reilly said part of the reason for the budget deficit was a decrease in property tax rates and revenues.
“The tax rate actually dropped slightly this year compared to last year – we’re talking a very nominal amount – that’s a very good thing, it’s better than it increasing,” Reilly explained. “Hopefully that’s something that can be maintained in the future. We know that’s important to our property tax owners out there and it’s important to us.”
Reilly said the state’s budget impasse made it difficult to craft a spending plan. With a new state budget in place, District 87 is now receiving two payments each month.
Reilly also explained despite minor changes, this year’s budget is not unlike last year’s.
“You tend to have small increases in your expenses and small increases in your revenue to try keep up with inflation and the cost of living,” said Reilly. “We’ll do everything we can do that in a way that keeps the tax rate where it’s at.”
The board also received status reports on District 87 facilities. Bloomington High School’s new, multi-purpose turf will be installed once fall sports conclude. Construction on the new band room will begin spring break.
Patrick Baron can be reached at [email protected].
