Woodstock School District 200’s new budget calls for small decreases over last year in revenues and expenditures, but state funding could go up slightly once a new formula kicks in.
District 200 will spend $94.65 million in the 2017-18 fiscal year, a drop from the previous year’s budget of $95.15 million. Revenues will total $94.24 million, down from $96.07 million.
Risa Hanson, the district’s chief financial officer, said questions about funding from the state of Illinois remain. She said the new budget was drafted using state school funding formulas from previous years.
“We’re being told it will probably be January before we’ll know what the funding will look like,” Hanson said.
Illinois lawmakers in August approved a new school funding model intended to calculate how much a district needs to educate its students and how much it can generate in property tax revenue. Districts with the biggest disparities will be prioritized for state aid, but schools are guaranteed to receive at least as much money this year as last year.
Superintendent Mike Moan said school officials expect the district to see a small increase in funding from the state once the new formula is implemented.
The district’s budget includes about $23.52 million in total revenue from state sources, primarily in the form of general state aid.
About 76 percent of the district’s expenditures will go to employee benefits and salaries. Local real estate taxes are the primary source of revenue, at 61 percent.
The school board voted 6-0 Sept. 26 to approve the 2017-18 budget. David Shinherr was absent.