Pekin District 108 officials have a tentative 2018 budget with a surplus of $505,000, but it is yet to be seen how much that amount will increase under the new funding formula approved in Senate Bill 1.
“We don’t know,” said District 108 Business Manager Glayn Worrell when asked what is expected from the new formula.
“I mean really, that’s kind of where we are since the (state) budget has been passed,” said Worrell. “We still don’t know how the General State Aid money is going to come out.
“The new system has been approved, but we haven’t seen the numbers for that, for General State Aid.”
Superintendent Bill Link said it is hard to pinpoint future school funding. He said it is not yet known if categorical programs will be funded fully or continue to be prorated like it was in the past several years.
“Based on the initial estimates that we saw that were based on last year’s numbers we will get more money,” said Link. “How much is really something that’s hard to estimate.
“Based on the last year’s numbers it looked like close to $600,000 more. Again, saying what it’s going to be right now we really can’t do because those numbers have to be calculated by (the Illinois State Board of Education) now that everything is approved.”
Link said the district is guaranteed to get what it received last year and those payments have been vouchered, but the adjustments haven’t been made for the current school year.
The district has received two GSA payments already this year, but under the old funding formula, said Worrell. The state is caught up on last year’s state aid payments, but it still owes the district for the fourth-quarter state mandated categorical programs — mainly special education and transportation. The amount due is $880,000.
Under the new funding system, the districts will get monthly categorical payments along with the GSA payment, said Link.
The budget is currently available for viewing at the district offices. It is likely the budget will change before then.
“That’s what we’re projecting right now,” said Link. “Again, those are our best estimates of what we knew at the time when we presented this.
“At the end of September, it’s likely to adjust if we get more firm numbers.”
The board will vote on the budget on Sept. 25.
The district is predicting revenues of $37,405,548 in FY 2018 and expenses of $36,900,169.
The district made personnel reductions of $196,881 and non-personnel related reductions of $160,956 for a total of $357,837. The personnel reductions were through attrition.
Follow Sharon Woods Harris at Twitter.com/sharrispekin