District 28 Board Gives Initial OK to $37M Budget

NORTHBROOK, IL — As part of a proposed $37 million budget, Northbrook School District 28 will need to dip into its reserves to cover a potential million-dollar deficit, the Daily North Shore reports.

The district's school board approved the tentative budget for the fiscal year during its meeting Tuesday, July 26. Residents will be able to review the budget beginning next month, and the board will give final approval in September.

One reason for the projected deficit is an increase in staff salaries and benefits, which represent more than 75 percent of the budget, according to the Daily North Shore. For the upcoming year, salaries will run the district more than $23 million—a 4.3 percent increase—and benefits will cost it around $4 million, a bump of 6.7 percent, the report stated.

Although officials are estimating a deficit, that doesn't necessarily mean the district will end the fiscal year in the red. For the 2015-16 year, the district projected a $1.2 million deficit, but it ended up with a surplus of about $350,000, the report added.

Here's a breakdown of the 2016-17 budget numbers, according to the Daily North Shore:

• Estimated spending: $36,999,876
• Estimated revenue: $35,908,061
• Estimated spending per student: $20,000
• Estimated reserves (as of June 30): $23.8 million

More via the Daily North Shore

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