No deficit in Dist. 45 budget proposal
Despite facing financial state funding uncertainty, the projected 2007-08 budget unanimously approved by Villa Park-based School District 45 could leave the district without a deficit.
"For the last two years, our expenditures have exceeded our revenues," said Superintendent William Schewe. "We're hopeful that we can have our revenues exceed expenditures."
Yet, Schewe cautioned, a lot depends on what happens downstate.
"If you are watching what the governor is doing, everything is in limbo."
What seems to be clear, Schewe said, is that the district once again likely won't receive a $980,000 grant promised for construction projects back in 2002.
"We're still waiting for it," Schewe said.
And as state budget discussion shift to possible long-term transportation funding, District 45 financial director Jay Tovian said his, and other school districts, look at what projects are possible under cash-strapped conditions.
"If we get the grant, there are other construction projects we could use it for," Tovian said. "We'll have to wait and see."
For now, the district's projected revenue in its main funds -- education, operations and building maintenance, and transportation -- amount to $37.2 million.
Minus expenditures, the balance is expected to be $554,261.
By comparison, the year-end balance for 2005-06 was a $1.9 million deficit and for 2006-07, was a mere $32,717.
Still, Schewe said of the 2007-08 budget, "That's really a blink," given changes that could occur if state education money is a pool from which other state funding crisis are solved.
"You can be up $500,000 or down $500,000 easily," Schewe said. "And it's not just our district that doesn't know what's going to happen. It's the CTA (Chicago Transit Authority). It's roads. It's everything."
Prior to final budget approval, school board members heard a presentation of the 2006-07 financial report from Ed McCormick of Mulcahy, Pauritsch, Salvador and Co. Ltd.
McCormick commended district leaders on their ability to manage finances under stressful conditions.
"Springfield is in chaos," McCormick said.
As with many school districts, McCormick said, "You rely on property taxes. But tax caps come into play then. It's like, 'Do what you need to do, but we're not going to give you any money.' "