Palatine Dist. 15 board passes deficit budget

Acknowledging that several financial unknowns remain and numbers will change, the Palatine Township Elementary District 15 board unanimously approved a $145.3 million budget that leaves the district $5.1 million in the red.

Couple that with last year, and the combined deficit exceeds $11 million with the trend only expected to continue if nothing changes.

“Our financial health is really deteriorating fast,” board member Manjula Sriram said at Wednesday’s meeting. “These numbers are really, really scary right now.”

Thus far, the district has avoided having to make cuts that affect the classroom thanks to a substantial reserve fund. But those savings will dip below $50 million by June.

Officials say they’ll be in a better position to make decisions on how to reform the “structural deficit” in October. By then, a financial audit will be complete, final enrollment and staffing plans will be in place and the 2010-11 budget will be in the books, meaning Assistant Superintendent Mike Adamczyk can paint a more accurate five-year forecast picture.

Adamczyk also expects to have a better idea the kind of monetary aid the state will — or won’t — provide, as legislators head to Springfield for a two-week veto session. He’s hoping they’ll vote to override a 26 percent reduction in transportation funding, which resulted in a $700,000 decrease to District 15. Member Rich Bokor, who serves as the board representative on legislative matters, put the chances at 50 percent of it being overturned.

The district’s future financial policies likely will be further examined at a board retreat next week, which takes place at two public meetings from 5 to 9 p.m. Tuesday and Wednesday at the Joseph M. Kiszka Educational Service Center, 580 N. First Bank Drive, Palatine. Members will discuss final recommendations to come out of the Navigate 15 engagement process, which aimed to gauge the community’s opinion on curriculum, staff, spending and facilities.

Member Scott Herr said it’s not realistic to think the board will come up with all the answers, but he’s hopeful it will reach a consensus on how to best approach fixing the district’s impending budget woes.

“Clearly what we have right now is not sustainable,” he said. “I look forward to sharing ideas on the process.”