Fremont has a surplus of $890,000

More developments and fewer new students helped propel Fremont Elementary School District 79 to a nearly $1 million budget surplus this year.

The board approved a 2007-08 budget Monday night that showed an operating funds surplus of more than $890,000, even with the opening of the new Fremont Intermediate School this year.

Officials attributed the surplus to two factors, the first being new businesses that bring in money but no students.

"The part that really helped us out was the new development," Andrew Searle, director of business for the district, said before the school board meeting Monday.

He named a new Target store and a Medline facility on Midlothian Road as two of the key contributors. "That's an excellent source," he said.

Also, statistics show the school district had an increase of only 45 students, Searle said, for 2007-08. Fewer new students means more money to go around. And Searle said it doesn't appear there will be a huge influx boost in new attendance in the near future.

"We don't expect to see that turn around in the next two years," he said. "Because the housing market has slowed down here quite a bit, we don't expect (attendance increases)."

The school district brought in more than $20 million last year and spent just over $19 million.

Officials said the surplus will stay in the fund drawing interest just in case the district needs it.

"That is kind of set away for a rainy day," Searle said. "We'll have something set aside."