With preliminary enrollment projections off, School District 72 will be seeing an extra draw on its surplus.
At a board meeting held this past Tuesday, Secretary-Treasurer Kevin Patrick told fellow board members the district was down from its spring enrollment projections by 126 full-time equivalent (FTE) students.
A Sept. 30th enrollment count ruled out the miscalculated projections, which was offset by increases in alternate, special needs and the classroom enhancement fund.
“The district is facing a funding shortfall of $611,144 from what was anticipated when the preliminary budget was prepared last spring,” SD72 says.
This is on top of a $530,000 planned deficit.
The district may now need to consider a draw on surplus of just over $1 million to deliver a balanced budget when building the final budget for the 2019-2020 school year.
“While the district saw an actual FTE enrollment increase of nine students from last year, in developing the spring preliminary budget the district has to make estimates on how many students we think we will get and build the budget and staff for the coming school year based on that estimate,” SD72 adds.
The district staffed the current school year based on the estimated increase of 126 FTE students.
While the estimate was off, no layoffs were issued.
Instead, one reserve position was not filled due to the existing surplus and the financial health of the district.