U-46 now missing $20 million from state

Ron Ally says he feels like a "bit of a broken record these days."

For the past several months, Elgin Area School District U-46's Chief Financial Officer has reported a similar story to the school board - millions in missing state funds and a growing deficit.

Only the picture's getting bleaker with each report.

At the end of March, Ally revealed Monday night, U-46's educational fund deficit was $23 million. Its operations fund had a $10 million deficit; and its transportation fund was $17 million in the red.

While the district has made nearly $5 million in cuts this school year and nearly $30 million to next year's budget, inaction in Springfield has officials fighting a losing battle.

"I'm still very, very concerned about the district's financial position," he said. "Now and as we go forward."

The 41,000-student district receives roughly 32 percent of its funding from the state.

As of Monday, Ally said, U-46 is owed over $20 million from Springfield.

It did not receive any categorical funding at all in March.

"It's mind boggling," Ally said. "And even more concerning is that many of these (missing state) payments go all the way back to October. We're approaching the end of the fiscal year."

The district still has $74.8 million in its working cash fund. Receiving some Cook County property tax revenues over the past month has helped the U-46 to stave off having tax anticipation warrants issued.

"Hopefully we'll be able to make it to the end of the fiscal year without having them issued," he said.

"We are still looking at requesting authorization for tax anticipation warrants next year."