Post by wvhsparent on Sept 6, 2007 19:34:29 GMT -6
Fox Valley Sun
Indian Prairie finances looking bright
September 6, 2007
By BRITT CARSON Staff writer
The financial picture is looking better in the Indian Prairie School District.
David Holm, assistant superintendent of business and finance, said if state finances maintain their current course, the School District could see more money than previously thought.
"Where it stands now, it is more than anticipated, but things are still a little iffy until the Legislature and governor agree on a budget implementation plan," Holm said. "Then we will have a clearer picture as it relates to education funding."
However, Holm said if the increase in the so-called foundation level -- or amount of state spending per student -- is approved at $400, the district would see additional funding.
The district had already planned to spend $2 million on technology improvements. In the past, those improvements and large building projects were funded through referendums. But after the first referendum for Metea Valley High School failed, voters decided to fund those projects through regular budgetary funds.
The result is, although some building projects have been completed, technology is lagging behind, Holm said.
"We need to go through a process and prioritize our needs," Holm said.
That could mean more money for technology, or saving the money to help with future expenses.
The School Board last week unanimously approved a tentative budget. Holm said district revenues and expenditures for 2008 will be about $257.3 million. Preliminary numbers, pending approval of the state budget, show the district will have a $17,225 deficit.
Holm said the budget will be on the board's agenda for approval at its Sept. 24 meeting. He said it is possible more details about state funding will emerge after that date, but hopes to have a more solid picture by then of what the district can expect
Indian Prairie finances looking bright
September 6, 2007
By BRITT CARSON Staff writer
The financial picture is looking better in the Indian Prairie School District.
David Holm, assistant superintendent of business and finance, said if state finances maintain their current course, the School District could see more money than previously thought.
"Where it stands now, it is more than anticipated, but things are still a little iffy until the Legislature and governor agree on a budget implementation plan," Holm said. "Then we will have a clearer picture as it relates to education funding."
However, Holm said if the increase in the so-called foundation level -- or amount of state spending per student -- is approved at $400, the district would see additional funding.
The district had already planned to spend $2 million on technology improvements. In the past, those improvements and large building projects were funded through referendums. But after the first referendum for Metea Valley High School failed, voters decided to fund those projects through regular budgetary funds.
The result is, although some building projects have been completed, technology is lagging behind, Holm said.
"We need to go through a process and prioritize our needs," Holm said.
That could mean more money for technology, or saving the money to help with future expenses.
The School Board last week unanimously approved a tentative budget. Holm said district revenues and expenditures for 2008 will be about $257.3 million. Preliminary numbers, pending approval of the state budget, show the district will have a $17,225 deficit.
Holm said the budget will be on the board's agenda for approval at its Sept. 24 meeting. He said it is possible more details about state funding will emerge after that date, but hopes to have a more solid picture by then of what the district can expect