West Aurora School District 129 is looking at an estimated $1.8 million surplus in its budget for fiscal year 2023-24, officials said.
The West Aurora School Board will vote on the budget at its meeting Sept. 18.
The tentative budget shows operating expenditures at $206 million, an increase of $9.5 million – or 4.8% – over the 2022-23 fiscal year. The district’s operating revenues are projected at $208 million, an increase of $9.9 million – or 5% – over the previous year’s budget, according to district officials.
The district’s budget for salaries is $107.6 million, an increase of $2.3 million – or 2.1% – over the previous year due to certified staff receiving a negotiated increase and administrators receiving increases. The district’s union contracts with its custodian and transportation workers are set to expire in 2024.
“This year, the teachers received an increase of 6% as did the paraprofessionals based on their new bargaining agreements. Other groups received what they had previously negotiated, two of which had a (Consumer Price Index) component. We will negotiate with custodians and transportation workers this year,” West Aurora School District Assistant Superintendent of Operations Angie Smith said.
The district entered the 2022-23 school year with a $102 million operating fund balance, an amount that could carry it for 206 days before running out, West Aurora Finance Director Ryan Abrahamson said in his budget presentation to the school board.
The district expects to end the 2023-24 fiscal year with $110 million in operating fund reserves, or enough for 189 days.
School Board President Richard Kerns inquired as to why the assumption drops to 189 days in the operating fund balance.
If total expenses increase, it takes more per day to pay for them, district officials said.
“We have some renewed contracts, so this is reflective of a more current and contemporary cost of doing business on a daily business,” West Aurora School District Superintendent Jeff Craig said.
The Illinois State Board of Education recommends districts have reserves equivalent to 180 days in order to pay bills for six months.
Linda Girardi is a freelance reporter for The Beacon-News.