FISHER — The school board has approved its fiscal year 2014 budget. It shows $7.94 million in estimated expenses leaving about a $341,000 deficit in the education fund and about a $35,000 deficit in the operations and maintenance fund.
Superintendent Barb Thompson said the district can continue to cover its deficits for several more years. But she said in six or seven years, if state funding continues at recent levels, the board would have to "do a gut check," looking at positions. Thompson said it is personnel where the significant costs lie. She noted that Fisher is in much better financial shape than many other districts.
Board member Chris Handley said he is hopeful that if the district can hold on for another 10 years, the village's original tax increment financing district will expire. With all the homes built in the past 10 years in the Heritage Estates subdivision, property tax revenue to the school district should increase significantly.
The education fund deficit will change. The board is still negotiating a contract with the Fisher teachers' union. The next negotiation session is scheduled for September 23.