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Local

DeKalb School District 428 Board to review tentative budget surplus

DeKalb High School is shown.
DeKalb High School is shown.

DeKALB – A tentative budget with a surplus of about $2.4 million will be presented at the Tuesday night DeKalb School District 428 Board meeting.

The district has projected more than $95 million in revenue, against about $93 million in expenses. The bulk of the budget is made up by the education fund, which pays for most day-to-day costs, including salaries and education materials. Salaries alone, at nearly $46 million, make up about half of the budget.

Local sources make up the lion’s share of the revenues, at more than $52 million, while state funding is about $31.5 million and federal funding is about $5.5 million.

The district expects to get about $2 million in new revenue after funding formula reform took place last year, Superintendent Jamie Craven has said.

As the agenda points out, the budget hinges on several unknowns, including potential property tax freezes, whether the burden of pension contributions could be shifted from the state to school districts, and state funding. The state’s payment backlog has been halved from $14.8 billion to $7.3 billion since this time last year, but the district is still waiting on about $1.4 million in transportation and special education payments.

The district was owed far more, $3.8 million, in those funding categories at this point in the last fiscal cycle, and waited until January to get all the funds it was owed.

The board meeting will open to the public at 7 p.m. at 901 S. Fourth St. A public hearing will be held in September before the final budget is adopted.

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