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The Barrington District 220 Board of Education approved a surplus budget Tuesday, Sept. 17, projecting that revenues will outpace spending by $3 million in 2014. The district is estimating $129.6 million in revenue and expenditures of $126.7 million, according to administrators’ budget presentation.
If projections are realized, the plan would bring the district’s fund balance to just under $50 million, representing a savings account of 38 percent of its budget. District officials said the reserve funds act as “an important safeguard in case of decreases to state or federal funding, economic downturns, urgent facility repairs, and to prevent borrowing due to uneven disbursement of revenues from the four counties within Barrington 220.”
Read more here.
I didn’t know it was OK for taxing bodies to take money from taxpayers beyond their reasonable spending needs. A very good reason to show one’s face at School Board meetings, as well as upcoming VBH Board of Trustee meetings. One must be ever vigilant.
Why such animosity in Barrington Hills towards our excellent school district? The school board is behaving responsibly in an economic downturn. We should be proud of the fact that our schools are financially stable and in such great standing nationwide. Our community will only be stronger and more attractive to families because of it. I consider my tax dollars to be well spent in an education from a top notch shool district.
How does that fare with those who do not have school age children or are retired – yet they have to bear this burden – along with declining property values. You don’t ‘spend’ your way out of an economic downturn………and that’s what is happening.
If this is the case, the Barrington District 220 Board better be prepared to cover all upcoming school program expenses. Last summer, we were advised that the Board would not cover transportation for summer school for BH residents and others. The reason, they just didn’t have $42,000 in the budget for the buses to take the children to summer school.
No, we don’t think our tax dollars are being well spent in a top notch school district!