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District 203 forced into $3.65 million budget hole due to missing state payments

Board Member Brandt House discusses District 203’s involvement in a school consolidation feasibility study. (O’Fallon Weekly Photo by Nick Miller)

O’FALLON – The District 203 Board of Education was forced to accept $3.65 million in deficit spending for Fiscal Year 2017 as a result of a lack of state categorical payments at the June board meeting.

District 203 Business Official Tammy Steckel reported to the Board of Education the need to amend the 2016-17 budget to allow for increased deficit spending. Steckel stated that due to state payments not coming as planned, the direct revenues had to be decreased to a total of $31,625,600. Expenditures stayed the same, at a total of $53,281,100, resulting in a deficit of $3,655,500, which will be paid by using surplus funds. Following this amended spending, the district’s fund balance will drop from $14.7 million to just above $11 million.

 

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