Schools
No Deficit At Lyons Township High After All
In any case, the school has plenty of cushion with more than $50 million in its bank accounts.
LA GRANGE, IL – It turns out that Lyons Township High School fared better than it thought last budget year.
The school's newly released audit for last budget year, which ended June 30, showed a $3.1 million surplus.
Last June, the school reported that it may see a deficit of up to $2.9 million because of unusually high health insurance costs.
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At Tuesday's school board meeting, Brian Stachacz, the top finance official, said the school wanted to be prepared for such a shortfall so that it did not overspend in its main account.
"We had a little more revenue than we anticipated and other expenditures were less than what we anticipated," he said.
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At the end of the budget year, the audit showed a $50.2 million fund balance. So even with a deficit, the school would have had plenty of cushion.
As for this budget year, Stachacz said, "Thankfully, we're not seeing the numbers that we saw last year for our health insurance. It has kind of leveled off this year."
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