The Orland School District 135 Board of Education passed a budget Monday night for the 2013-2014 fiscal year without raising the tax levy over the 2012 levy.
The new budget calls for $80,874,222 in revenues and $80,175,000 in expenses leaving a projected surplus of $699,222.
No one commented during the public hearing before the vote. All present board members voted in favor of the budget. Board members Greg Okon and Tina Zekich were not at Monday night meeting at High Point Elementary.
The following are points provided in a budget-at-a-glance document that is expected to be posted on the district’s website.
- Interest income for 2013-2014 is budgeted at $203,520, which is a loss of about $1.5 million since 2007. The district attributes this to lower interest rates and the state falling behind on paying money owed
- Setting the Teachers Retirement System rate for federal grants at 35.41 percent is expected to save the district about $250,000
- If the Illinois State Board of Education eliminates Title II funding, one of the types of grants offered to assist with No Child Left Behind and other initiatives, the loss would be about $150,000. That’s on top of $300,000 cut in 2011 from transportation funding and the Reading Block Grant
- D135 has refunded about $7.5 million in Property Tax Appeal Board refunds to local entities that had their property tax assessments appealed
- D135 is looking at an 18 percent increase in health insurance premiums, and are attributing it to a high number of claims and to health care reform. It’s the first double-digit increase in premium cost percentages in nine years, according to the district
- The district maintains an AA+ rating from Standard & Poors
- Aside from debt certificates, D135 is expected to pay off all long-term debt by 2015
- D135 received a 4.0 score for the fourth year in a row from the Illinois State Board of Education Financial Profile
Board members Joe LaMargo, Mike Carroll and Sandy Kulak all praised Assistant Superintendent for Business Services John Reiniche for his efforts on the budget, as well as this staff.
LaMargo described the budget during the meeting as “living within our means.”
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