District 128 board approves $95.5 million budget
The Libertyville-Vernon Hills Area High School District 128 board has approved a $95.5 million budget for the 2018 fiscal year.
The school board adopted the fiscal plan Monday night following months of public discussions and various adjustments. It covers revenue and spending for the year that began July 1 and ends June 30, 2018.
Projected spending is down nearly 3 percent from the 2017 fiscal year's total of roughly $98.3 million.
The budget predicts revenue from property taxes, fees and other sources will total nearly $83.5 million. That's up about 2 percent from the $81.8 million total in the previous budget.
The biggest project in the new budget is the upcoming construction of a $21.5 million indoor swimming pool at Libertyville High, an effort that's supposed to take nearly two years. The new budget includes $12 million from savings for the project.
Officials initially expected to spend about $8 million on the pool during the 2018 fiscal year, but the number rose once the construction schedule became clearer, said Dan Stanley, the district's assistant superintendent for finance.
The overall estimated cost of the project did not increase, Stanley said. The rest of the pool project will be funded in the 2019 budget.
Some on-campus roadwork that's part of the project began last week. Construction of the pool building should begin in mid-September, District 128 spokeswoman Mary Todoric said.