CAMBRIDGE -- The Cambridge school district is projecting a $146,432 surplus for the 2014-15 fiscal year.|
Total revenue is projected at $5,144,259, with total spending at $4,997,827. The budget was calculated based on the assumption the state will prorate general state aid at 88 percent.
A $76,443 surplus is projected in the education fund which covers teachers' salaries. Projected education fund revenue is $3,775,141 and spending is $3,698,698.
The budget projects zero spending of funds flowing in from the special sales tax to finance school building porjects. Superintendent Tom Akers said Monday the district is waiting to see what the revenue will be since it came in slower than anticipated to begin with.
One of the building projects under consideration to be paid for with the sales tax was the resurfacing of the high school parking lot, which was done this summer without sales tax proceeds. Originally estimated to cost $200,000, the county highway department did the work for a total cost of $28,000, according to Mr. Akers. The school district received a $50,000 maintenance grant for the work.
Last year, the district projected a $37,093 surplus on total revenue of $5,086,628. The final surplus was $266,097 on total revenue of $5,148,569 which included a $90,000 in maintenance grants. Spending was four percent under the budgeted amounts.
A public hearing on the budget will be held at 7 p.m. Aug. 21.
The board also:
-- Certified Rt. 81 represents a safety hazard, enabling the district to receive transportation aid for busing students north of the highway.
-- Set a special 7 p.m. July 31 meeting to hire a high school English teacher to replace Joe DeGeorge, who recently resigned.
--Finalized policy allowing children who are five years old on or before Sept. 1 to enter kindergarten without administrative review of their readiness.
Moline, IL Details
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