RTHS board approves deficit budget
RANTOUL — The board has approved a deficit budget for the second consecutive year.
Revenues are estimated at $9.7 million and expenditures at $10.9 million. That's a deficit of $1.2 million.
Most of the budget funds are projected to finish with a positive balance, except for the education fund ($7.6 million in revenues and $8.2 million in expenditures for an approximate deficit of $600,000) and the capital improvement fund ($97,000 revenue and $802,500 expenditures for a negative balance of $705,500).
"I don't anticipate it to be that bad because we may get more revenue streams, but we'll probably still be in the red (with the education fund)," Superintendent Scott Amerio said at last week's monthly board meeting. "We'll really be watching our expenses this year."
With the capital improvement fund, the district is still spending down the revenue from the 2010 bond sale, of which the law requires to be 85 percent spent by December. In July, it had a $964,000 balance.
Amerio said the district still has about $3.2 million in reserves in the education fund to balance the budget.