The Batavia school board adopted an $80.8 million budget Tuesday that includes spending $10.22 million to repay outstanding debt.
It expects $81.19 million in revenue, including $67.8 million in property taxes.
Contact information ( * required )
The fiscal year for 2013-14 began July 1.
The board has targeted $51.45 million for salaries and benefits, not including termination benefits for retiring employees.
District 101 will receive less reimbursement for regular student transportation than initially expected, said Kris Monn, the assistant superintendent for finance. The state set the rate at 73 percent of allowable costs. Last year, the rate was 76 percent.
Monn said the amount of property taxes collected could also change once the district finds out how much new construction is being booked. It won't find that out until next spring. While residential building remains slow, the district will be able to include the Chicago Prime Outlet mall in Aurora for the first time. The land had been in a tax-increment financing district since 1988, but that expired at the end of 2012. For those 25 years, its property tax payment to the school district were based on the value of the land in 1988. The payment will now be based on the land's current value.
The 2013-14 budget calls for spending about $1.5 million more than the 2012-13 amended budget that was approved in May.