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posted: 8/15/2014 5:30 AM

Glen Ellyn Elementary District 41 adopts 2014-2015 fiscal budget

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By Safiya Merchant
smerchant@dailyherald.com

Glen Ellyn Elementary District 41 has adopted a 2014-2015 budget with a projected deficit of almost $12.7 million because of construction projects.

Operating revenues total about $51.7 million, but the district will be spending about $64.4 million. Of that amount, $13.6 million is targeted for additions planned for the district's four elementary schools.

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"That's building and associated costs for the additions and the site work," said Bob Ciserella, the district's assistant superintendent for finance, facilities and operations.

Ciserella said they are transferring $3 million from the district's working cash, as well as $4 million from the general fund, into the capital projects fund to complete projects. In the budget, salaries take up 45 percent of expenditures, but the next largest chunk -- 20 percent -- will be for equipment/capital projects.

Meanwhile, 85 percent of the district's revenues are expected to come from property taxes, while the rest will be provided by state and federal funding, as well as other local revenue.

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