The 2013-14 budget projects $107,365,512 in revenues and $107,370,423 in expenditures in the Operating Fund. Based on the tentative budget for 2013-14, the District forecasts an Operating Fund balance of $72.9 million as of June 30, 2014.

"Maintaining strong fund balances is a key financial strategy for our district as we face uncertainties such as increasing student enrollment and potential decreases in state and federal funding," said Board President Skip Shein. "By doing so, we greatly enhance our ability to remain fiscally stable as an organization."

The majority (96%) of the District budget is funded locally, primarily through property taxes with less than 5% of funding provided by state and federal sources (compared to the average Illinois school district which receives approximately 38% from the state and 9% from federal sources). This structure gives District 225 taxpayers greater control over the quality and value of their schools. It also ensures a favorable credit rating for the District and protects the schools from severe fluctuations in revenues, which could result in the elimination of programs.

"A growing student enrollment requires additional resources," said Superintendent Dr. Mike Riggle. "Our communities expect our current and future students to receive the same great quality education and opportunities that students have benefitted from in the past."

As part of the budget discussion, the Board also reviewed the previous fiscal year. During the 2012-13 school year, the district spent less than projected on expenditures and received deferred revenue from one-time state and federal grants. This resulted in an additional $3.1 million in Operating Fund reserves, leaving the district in a strong financial position for 2013-14.

"This past year, we agreed to new contracts with our various unions which has helped the district maintain a balanced budget," said Assistant Superintendent Hillarie Siena. "The unions are to be commended for their collaborative commitment during negotiations to the long-range financial stability of our organization."

The District will post the tentative budget for 2013-14 on its website for public viewing. The community will also have an opportunity to provide its input at a public hearing at the regularly scheduled Board Meeting on September 9, at 7 p.m. in the Glenbrook South High School Student Activities Center. In addition, the budget will be available for public viewing at the District Office reception desk, located at 3801 West Lake Avenue, Ste. 200, for no less than 30 days, starting July 31.

The Board is expected to adopt the final budget during the business portion of the meeting on September 30.

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