District 3 finalizes budget
FOX RIVER GROVE – After some minor adjustments, school District 3 has finalized its budget for this school year.
The $8.6 million spending plan for the 2013-14 fiscal year includes this past summer's roof work, which was among roughly $354,000 in capital projects.
Superintendent Tim Mahaffy said the district did have two special education students come into the district, which the district had to account for since the tentative budget was presented.
The spending plan does have a projected deficit of about $433,500. When taking out the capital projects that the district saved money for, the deficit is only about $80,500, Mahaffy said.
Mahaffy added that the district is only projecting to spend $7.5 million, after taking out state payments for teacher retirement system contributions, which the district has to account for.
This year, the district also reduced the number of kindergarten sections to two from three sections because of decreased enrollment.
District officials also added fiber to the schools’ Internet connections for an additional $300 a month. Last year, the district added wireless, Mahaffy said. The improvements are meant to reduce barriers to learning.
The district does plan to make a transfer from its transportation fund of about $352,000 to its education fund during the year.
District 3 has reached its tax cap with its education rate, Mahaffy has said. To help cover expenses, the district levies for maximum property taxes where it can and transfers money to the fund most in need.
The transfer would not lead to a cut in service, Mahaffy has said.