YORKVILLE – No deficit reduction plan is required for the Yorkville School District 115 fiscal year 2020 budget recently passed by school officials, according to district officials.
The Yorkville School District 115 Board of Education voted, 6-0, to approve the fiscal year 2020 budget during the full board meeting on Monday, Sept. 23 at Yorkville High School. Board member Gary Katula was absent from the meeting.
Mindy Bradford, executive director of finance and operations for Yorkville School District 115, said the district's budget has an operating surplus of $325,064 for fiscal year 2020. She said school finance officials were originally anticipating a flat total budget as of a couple of weeks ago, but now there is a total budget surplus of $337,918.
Bradford said staff initially thought the district was going to spend all of their carry-over capital. After looking at the district's operations and maintenance funds line by line with the new director of facility operations and evaluating available resources, she said, the district determined the amount they wanted to spend on future school construction was less than what they originally anticipated this time around.
"So some of that might actually carry over into next year and into FY2021," Bradford said.
Bradford said the fiscal year 2020 budget includes more than $3.1 million in additional total revenues from last year's budget, along with $2 million more in total expenditures from last year's budget.
Bradford said one of the main revenue sources for the new budget includes more than $2 million from property taxes in the last year. She said the school district also received more than $461,000 from the state's evidence based funding program, which was signed into law by Governor Bruce Rauner in Aug. 2017 and helps to fund schools through a needs based "tier" system.
The Yorkville school district is a Tier 2 district, which means it is in the class that receives the second most state funding under the newer system.
Budget documents say the budget is balanced and there is no deficit reduction plan required, as was also the case for fiscal year 2019. However, the district's transportation fund shows a difference of $637,876 between expenditures of about $7.3 million and direct revenues of about $6.7 million.
Bradford said the majority of the expense increases came from required employee salary raises per union contracts and not by new hires altogether. She said there was also an increase in special education transportation within the district, which contributed to the increased spending and the more than $637,000 difference in the most recent transportation budget.
Overall, Bradford said, she is satisfied with the outcome for the fiscal year 2020 budget, especially considering how the school district had projected multi-million dollar deficits in recent years.
"I think, as a district, we've really worked hard to identify incremental revenue sources," Bradford said.
• This version of the story includes clarifications on the director of facility operations's title and the differences in total expenditures and revenues from last year's operating funds.