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Board approves final 2012-13 budget
Conservative approach offers financial stability for future generations
The Glenbrook High School District 225 Board of Education approved the 2012-13 budget, projecting $101,184,315 in revenues and $101,181,009 in expenditures in the Operating Fund. Based on the approved budget, the District forecasts an Operating Fund balance of $69.7 million as of June 30, 2013.
“Maintaining strong fund balances is a key financial strategy for our district as we face uncertainties such as increasing student enrollment and potential decreases in state and federal funding,” said Board President Skip Shein. “By doing so, we greatly enhance our ability to continue providing the level of service our community expects from the Glenbrooks.”
The majority (95%) of the District budget is funded locally, primarily through property taxes with less than 5% of funding provided by state and federal sources (compared to the average Illinois school district which receives approximately 38% from the state and 9% from federal sources). This structure gives District 225 taxpayers greater control over the quality and value of their schools. It also ensures a favorable credit rating for the District and protects the schools from severe fluctuations in revenues, which could result in the elimination of programs.
“We feel it is important in the Glenbrooks to provide generational equity,” said Superintendent Dr. Mike Riggle “A growing student enrollment requires that we hire additional staff. Our communities expect our current students to receive the same great quality education and opportunities that students have enjoyed in the past.”
The tentative budget was posted online July 31 for viewing, and the district held a public hearing on September 10 to allow for community input. The final budget
is available on the district website.