Schools
D122 School District Passes 2011-'12 Budget
After being pleasantly surprised by a $1.7 million surplus, the New Lenox elementary school district approved its budget for the next two years.
The District 122 Board of Education voted unanimously to adopt its budget for the 2011-’12 fiscal year Wednesday night. This comes after the board learned the school district ended its last fiscal year with a $1.7 million surplus.
These surplus funds came from a variety of sources, including a higher rate of property taxes and student fees collected; reimbursements from the state for special education and transportation; and an unusually low increase in employees’ health insurance costs.
Although the operational budget currently shows a $1 million deficit, that number will be covered by the surplus, which will also offset a projected deficit in fiscal year 2012.
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Also at the meeting, board members discussed the school district’s purchase of a plot of land in Mokena. District 122 Business Manager Harold Huang said the district does not currently have any plans for the land, but will hold onto it for potential projects in the future.
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Board members also approved payments for building projects, voted to fund a New Lenox police officer liaison, and outlined new rules for public speakers at the meeting.
The board did not discuss plans to refinance the district’s debt, but will review its options at next month’s meeting on Oct. 19. The plan would potentially cut taxpayers a break in the short term, but would ultimately increase the district’s debt.
Check out the attached PDF for more information about D122’s budget.
