Rich Township High School District 227 has reduced its $4.5 million deficit in the operating fund to a working cash surplus over the last year and now meets the Illinois Board of Education’s criteria for “financial recognition,” officials said.
The school board unanimously passed a $51 million 2004-05 budget Monday, which shows a total deficit of $941,000. Budget manager Guy Cahill said the district has been working to trim the deficit by reducing staff through attrition, raising student fees, cutting contracted transportation costs and implementing efficiencies in purchasing.
In the past, “the expense trend far outpaced the revenue trend” with salaries and generous retirement benefits and stipends, Cahill said.
The operational budget shows a $217,520 working cash surplus, the result of a recent infusion of $500,000 of state aid to the district. Operational expenses were at $43.75 million and revenues at $43.97 million. The operational budget, which includes the education fund, building, transportation and working cash, was at $41.57 million last year.
The education fund budget shows expenses of $36.5 million and revenues of $36 million. Last year’s education fund budget was $36.3 million.
Cahill said budget increases were a result of a 12 percent increase in health insurance costs and capital expenses at its three schools. These capital costs include science lab renovations because of the district’s science curriculum reform initiative, new computers, wiring improvements, and building and equipment updates.
The budget also includes reinstatement of three assistant football coaches at yearly stipends ranging from $4,635 to $6,913, depending on experience. The positions had been cut last year, but the district’s three coaches had complained that the absence was hurting student athletes.
Interim Supt. Griff Powell said he would also consider whether other extracurricular staff, who were cut last year because of the deficit, could be reinstated.
