District 181 Finishes Fiscal Year With Budget Surplus

District 181 ended fiscal year 2011 with a surplus. It was in the black. 

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Because of its reduced expenditures, higher-than-expected revenues from the state government and conservative expectations for local tax revenues, District 181 had more than $2.5 million left over in its operating funds at the end of June, Assistant Superintendant for Business Dr. Troy Whalen said during a presentation at Monday night’s board of education meeting at .

The district had a $314,338 budget deficit one year ago.

According to data presented by Whalen Monday, District 181 received just over $2.9 million in state funding after budgeting for under $2.4 million. Whalen said the district would continue to budget low expectations for state revenue going forward.

The district also received more revenue from local taxes than it anticipated. Whalen said about $51.7 million in local revenue was in the budget and the district received about $52.8 million. 

District 181 was able to spend less than it anticipated during fiscal year 2011—$775,836 less, to be exact. The district came in under budget on purchased services, supplies, capital equipment and tuition/fees/other post-employment benefits.

“In this economy, being able to right this ship and put a little bit back into the bank for a rainy day is absolutely crucial,” board president Michael Nelson said.

Board member Yvonne Mayer said the district has gone “very lean” and that the administration should feel free to “put some meat back in the budget” next year if possible.

“We don’t want to go so lean that departments and administrators suffer,” Mayer said.

Nelson responded by saying the economy is not getting any better and the district should hold onto those surplus dollars.

“Just because we find a little bit of money in our wallet or on the way to the dry cleaners doesn’t mean we have to spend it,” Nelson said.