By Howard Packowitz

BLOOMINGTON – McLean County’s two largest school districts are running education fund deficits in budgets adopted by their respective school board’s Wednesday night.

The largest district, Unit 5, is contemplating a tax referendum a couple of years from now as a long-term solution to its revenue shortfall.

District 87’s budget includes about a $2 million education fund deficit, according to Superintendent Barry Reilly, which will be covered by a transfer from the district’s working cash fund.

Reilly said if deficits continue, District 87 will look at spending cuts before ever considering a referendum.

Unit 5 Superintendent Mark Daniel said all options are on the table, including a referendum, perhaps as soon as the 2020 election. Until then, Daniel said taxpayers will be hearing a lot about the programs they pay for that help children.

“It’s about telling why you’re doing what you’re doing, and the results of what you’re doing, and therefore, is it worth the investment of the community and public?”

Daniel said Unit 5’s education fund deficit is almost $5.9 million this coming fiscal year, and is expected to widen to $10 million the following year. For now, Unit 5 is borrowing money to balance the education fund by selling $16.5 million in bonds. Cost of the borrowing to Unit 5 property taxpayers is said to be $205 in each of the next two years for the owner of a $177,000 home.

Both districts are saddled by flat land values that school systems tax and account for most of their funding. In addition, Unit 5 recently raised teachers salaries to stay competitive with other districts.

Howard Packowitz can be reached at [email protected]