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updated: 8/13/2014 6:52 PM

Elk Grove Dist. 59 board approves $118 million budget

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Daily Herald report

The Elk Grove Township Elementary District 59 school board has approved a $118 million budget for the upcoming school year.

The spending plan includes $16 million in capital projects, among them an addition to Holmes Junior High School in Mount Prospect to house a new early childhood learning center. The district plans to borrow up to $19.8 million to pay for the learning center and other projects.

Officials project they will collect $119 million in total revenues, though they are expecting a $2 million loss in property tax revenues as a result of refunds issued because of successful assessment appeals.

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