Meridian FY 2011 Budget Placed on Display
Budget hearing scheduled for September 23, 2010
August 18, 2010
The Meridian CUSD #223 Fiscal Year (FY) 2011 Budget was placed on display at the School Board's regularly scheduled meeting held on Thursday, August 12, 2010. The FY 2011 budget hearing is scheduled for Thursday, September 23, 2010. Following the hearing, the budget will be recommended for adoption during the regular session of the board meeting also scheduled for September 23. School Districts are required to adopt their budgets annually by September 30.
Although the budget will continue to be reviewed and modified up through September 30, the current status of the budget shows a total deficit in all funds of ($713,531). The Education Fund , the budget's largest fund, currently shows a deficit of ($592,947). The next largest funds, the Operations and Maintenance and Transportation show surpluses of $537 and 61,513 respectively.
The recently passed Education Jobs Fund bill by the federal government will provide additional funds to the district for FY 2011, although the parameters for utilizing the funds have not been fully defined. It appears, however, that the funds from this bill of just over $500,000 for Meridian CUSD #223 will alter the current status of the district's budget. Additionally, through the use of recent a $1.3 billion bond issue, the state has made payments to Illinois school districts for revenue that was scheduled to be dispersed last year (FY 10). The release of those funds has also provided revenue for the District's FY 11 budget that was not originally expected. The budget will continue to be placed on display and will be reviewed at the Board's next regularly scheduled meeting on Wednesday, August 25, 2010. If there are questions about the budget or any aspect of the District's finances, please contact Jennifer Porter, District Administrator for Business/Human Resource or Bob Prusator, Superintendent at (815) 645-2606.
