District 95 Board Approves Tentative 2012 Budget

The Lake Zurich Community Unit School District 95 Board approved its tentative fiscal 2012 budget Thursday night.

The budget stands at $97,049,231, an increase of 3.71 percent over the fiscal 2011 budget.

Impacts not reflected in the tentative budget are the $592,000 tax increment financing district money recently collected from the village of Lake Zurich, proceeds from the possible sale of Charles Quentin Elementary, special education tuition rates, the fate of state budgets and a tax collection rate of more than 99 percent.

“This year we had a tax collection rate of 99.8 percent,” said Michael Engel, assistant superintendent of business and operations.

“Should anything else change, we have the ability to adopt it before we approve the final budget in September,” said Board President Kathy Brown.

The education fund shows a projected $70.6 million in revenues, up 3.85 percent from last year. School fees are anticipated to drop from $840,000 to $810,000 due to declining enrollment.

Expenditures are anticipated to jump 2.94 percent from last year due to a 3.62 percent increase in salaries, 3.77 percent increase in employee benefits, 2.86 percent increase in supplies and materials, and 1.27 percent increase in capital outlay. Purchased services are projected to drop .68 percent, and contingency and tuition costs have gone down 1.53 percent.

The transportation fund is anticipated to be $451,658 in the negative.

“It’s because the state cuts are huge at 40 percent,” said Engel.

Revenues in the transportation fund are projected to be down 1.17 percent from last year's $7.8 million. Expenditures are anticipated to rise 4.52 percent due to the increase in fuel prices and purchased services.

“We can’t cut any drivers or bus routes, and it’s a paper-thin operation as it is,” explained Engel. “We have to fully levy next year to see this come back.”

The Illinois Municipal Retirement Fund/Federal Insurance Contributions Act Fund also is projected to be in the red by $39,113, but that will be rectified by a transfer of corporate personal property replacement tax funds to the education fund.

Remaining funds are in the black: The operations and maintenance fund is at $8.8 million, up 9.55 percent from last year; and the bond and interest fund at $8.3 million, up 1.8 percent from last year.

“Overall the budget is looking good,” said Engel.