Silvis schools expect $500,000 deficit in next fiscal year


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Posted Online: Feb. 20, 2013, 9:42 pm
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By Anthony Watt, awatt@qconline.com
An initial budget projection indicates an almost $500,000 deficit in the Silvis School District's education fund for the 2013-14 fiscal year.

A report on the coming year's budget was presented Wednesday during the Silvis Board of Education's regularly scheduled meeting. Superintendent Ray Bergles said the district has been keeping spending under control, and the expected deficit is because of decreased state funding.

"We've really worked hard to keep our expenditures down," he said. "But the problem is revenue is way down."

The report indicates revenues for the education fund in '13-14 are expected to be $4,545,300, and expenditures are anticipated at about $5,022,499, leaving the district with a hole of about $477,199 to fill.

There also are deficits expected in the transportation, retirement and tort funds, according to the report. Those deficits total about $130,147.

How much of the deficit will be filled with cuts or other measures and how much by drawing from the reserve still is being worked out, Mr. Bergles said. The education fund reserve is about $3.4 million.

In other business, the board voted unanimously to make a temporary transfer of $750,000 from the education fund to the operations and maintenance fund to pay bills related to the remodeling of George O. Barr School.

Mr. Bergles said the transfer is temporary and necessary to compensate for late state payments on a grant for the project.



















 



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