Budgets, Levies, & Debt
NEW! Budget Presentations - 2013-2014
The 2013-2014 Adopted School Budget attachment is the budget which was recently approved.
In late September 2013, the Geneva School Board approved the 2013-14 School Year Budget. The full budget and a summary are available below but highlights include:
• Expected revenue exceeds expenses by $1.0 million dollars ($92.6 vs. $91.6).
• The debt service repayment will increase $1.3 million over last year.
• Operations and Maintenance costs remain over $12 million per year. As few as three years ago, this cost was $9 million per year.
• Transportation expenses were higher this year because of the purchase of buses. The district is now on a two-year buyback program which means brand-new buses are purchased and used for two years. At the conclusion of the second year, the buses are sold back to the distributor using a combination of dollars from the sell-back and new funding from property taxes.
• The administration expects that revenue from the State of Illinois will decrease $500,000.
• Education fund expenses will increase $700,000, mainly due to the recent teachers contract.
