H-F School District 233 Passes Another Surplus Budget

will operate with a surplus budget for the ninth consecutive year.

The Board of Education unanimously approved the 2011-12 fiscal budget Monday night with an overall surplus balance of about two million dollars.

The budget projects an estimated $55.1 million in revenue and about $53 million in expenditures for the year, with an operating fund balance of about $59.7 million on June 30, 2012.

The figures are based on revenue growing at 2.7 percent and also take into account the anticipation that the district’s general state aid will fall short by about $500,000 due to budget cuts, according to Ken Parchem, the district’s business manager.

“There are still financial challenges as we move forward due to the slow economy and condition of the state of Illinois, but we are managing better than most districts,” Parchem said. “Proper planning, forward thinking, being fiscally conservative, staying the course—it’s something we’re extremely proud of.”

As a result of the district’s efforts, it was awarded Financial Recognition for the seventh consecutive year by the state based on its 2010 school year financial data. The district received a 4.0, the highest score possible, Parchem said. That distinction, coupled with the Standard & Poor’s AA+ rating, further demonstrates that H-F is a financially sound district, he added.

Major projects included in the 2011-12 budget include several improvements that already were completed over the summer:  

• Paving of the access road, the roadway behind buildings E and G and some paths, as well as completely replacing the south tennis courts cost about $1.5 million.
• Replacing the original boilers in South building cost nearly two million dollars, but the district received a $250,000 energy grant from the state to offset the cost.
• The sound system at the football stadium was upgraded at a cost of $235,000.
• Various office renovations were completed for $653,000.

Also during last Monday's meeting, the board approved an interfund transfer of $10 million from reserves in the Education Fund to the Operations and Maintenance Fund. This transfer was recommended by the Finance Committee, Parchem and Superintendent Dr. Von Mansfield.

Parchem said the money was redirected for future use and added that a focus group has been formed to look at various options for enhancing facilities.

The next regular District 233 Board of Education meeting is scheduled for 7:30 p.m. on Monday, Oct. 18 in south building library.