District 54 approves balanced 2017-18 budget

Schaumburg Township Elementary District 54 school board members Thursday approved a balanced budget for 2017-18 with expected costs of $257.8 million and expected revenues of $258.3 million.

Last year's budgeted costs were $225.9 million and budgeted revenues were $226.9 million.

District 54 will issue no new debt and has been debt-free since 2011.

Benefit costs are anticipated to increase approximately 4 percent.

Federal aid and state aid are expected to remain comparable to their levels during the 2016-17 school year.

Working cash will be used to balance any fund deficiencies and finance long-term capital needs.