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District 54 adopts 2018-19 budget

The District 54 School Board adopted its 2018-19 budget after a public hearing at its August 9, 2018 meeting. District 54 expects to spend $279,305,347 during the 2018-19 budget year and receive $267,251,916 in revenues.

District 54 developed the 2018-19 budget based on the following parameters:

Revenues

  • Property taxes for levy years 2017 and 2018 are based on the Consumer Price Index (CPI), which was 2.1 percent for the 2017 levy and is estimated at 2.5 percent for the 2018 levy.
  • Federal aid and state aid are expected to increase slightly from the 2017-18 revenue.
  • Interest income is projected to increase from the previous year because of the federal rate increases.
  • Local revenues will remain consistent due to the fee structure approved by the board, which is consistent with the prior year.

 Expenditures

  • Salaries for the 2018-2019 school year are based on projected savings from people retiring at the end of the 2017-18 fiscal year, as well as any raises to returning employees.
  • Benefit costs are projected based on 2017-18 costs and an overall increase expected in 2018-19 of approximately 3 percent.
  • There will continue to be a freeze on overall cumulative spending in supplies, purchase services, and capital outlay. The only exception is in the Operations and Maintenance Fund, where cost of service increases cannot be controlled, and in the Education Fund for planned textbook or technology adoptions. In addition, in 2018-19 a large addition to budgeted expenditures was due to the additional expenditures for 21st century learning modifications and for planned building additions.
  • Tuition costs are budgeted based on costs in the 2017-18 school year, but are subject to fluctuation depending on what special education services need to be outsourced.
  • District 54 will issue no new debt and has been debt free since Dec. 1, 2011.

Individual Fund Summary

  • Education Fund – $229,328,152 in revenues, $233, 486,506 in expenditures
  • Operations and Maintenance Fund – $19,203,354 in revenues, $27,357,976 in expenditures
  • Bond and Interest – $20,000 in revenues, $0 in expenditures
  • Transportation Fund – $11,006,383 in revenues, $11,348,161 in expenditures
  • IMRF/Social Security/Medicare – $7,063,369 in revenues, $7,061,081 in expenditures
  • Working Cash – $577,239 in revenues, $0 in expenditures
  • Fire Prevention/Life Safety – $53,239 in revenues, $51,623 in expenditures

Click here to view the detailed 2018-19 budget.