Unit 5 has the potential to end the fiscal year with a $500,000 surplus or a $2.3 million deficit. (WJBC file photo)

By Adam Studzinski

NORMAL – Unit 5 is looking at two potential budget scenarios at the end of the current fiscal year.

One has the district ending with a surplus of about $500,000, which finance director Marty Hickman explained.

"Real estate taxes are projected to come in slightly above what we budgeted in August. The general state aid payments are actually a little higher than we budgeted, and that's because our average daily attendance was actually a little higher," said Hickman. "The third, on the revenue side, was we received more of Title 1 grant funding."

However, Hickman added Unit 5 could also end up with a roughly $2.3 million deficit when the fiscal year ends on June 30.

"It's one risk and that's what's going to happen with the State of Illinois and the budget going forward," said Hickman. "We build the budget with what we expect from them in revenue and unfortunately the timing of it is we never know for sure until the very end of our budget cycle whether or not they're actually going to come through and give us the payment."

Hickman hoped to find out more when Gov. Bruce Rauner gives his budget address next month, but added the answer to the budget question likely won't fully be answered for several months.

Adam Studzinski can be reached at [email protected].