School board prepares for 2019-20 general fund budget trimming

With the possibility of a few less students and a student-driven schedule, the Glencoe-Silver Lake School District could face a decision later this spring on reducing spending in order to meet the district’s self-imposed fund balance requirements.
Earlier this month, Monday, March 11, the school board heard a lengthy report on behind-the-scenes budget discussions and the potential of reducing staff time to meet the district’s mandated 20 percent fund balance of its general fund. The situation means two teachers might face reduction in the amount of time they’d be paid to work.
By May of this year, the district’s general fund revenue is about $18.163 million and its expenses are calculated at approximately $18.55 million. Its fund balance is expected to be $4.234 million – about 22.8 percent of the general fund expenditures.
But with deficit spending, the 2019-20 general fund revenue is expected to be at $18.113 million and expenditures at $18.562 million. The general fund budget will dip to $3.668 million or 19.76 percent of general fund spending.

(For the complete story, see the March 27 print edition of The Chronicle.)