Bensenville School District 2 closed the 2011-12 fiscal year June 30 with a $3.3 million surplus, putting the district in sound financial shape for the coming year.
Roughly half of the surplus was allocated for buses, technology, furniture and repairs that will be carried over and likely spent in the 2012-13 fiscal year, said Chief Financial Officer Paul Novack.
The surplus was the result of slightly higher than expected revenues – 1 to 2 percent -- in combination with spending coming in under budget.
The District budget for 2012-13 is currently being compiled. The costs for teacher salaries and benefits – the major portion of the budget -- are projected to increase 2 percent based on the new teacher’s contract. Health insurance costs are expected to climb about 4 percent.
The District added one new teaching position to accommodate expanded need for bilingual classes in K-5. Two custodians were added, one for Tioga and one for Johnson, to cover the new buildings.
The increased costs will be absorbed by slightly higher revenues. The total property taxes that the District collects, known as the tax levy, will increase at the rate of inflation, 1.5 percent. General state aid is expected to increase up to $300,000, about 10 percent, due to student demographics. Other State and federal grants are expected to remain neutral.
The result is a stable budget with very modest increases in spending.
The Board of Education will review several capital items before the budget is approved, including additional technology investments for students.
The preliminary budget will be presented in August and should be approved in September.