District 233 school board approves $62.52 million budget for 2019

The District 233 school board approved a projected operating budget of $58.77 million for Homewood-Flossmoor High School for the 2019 fiscal year ending June 30, 2019. Expenses are projected to be $58.73 million leaving the district with a balance of $40,000.
 
The biggest share of the budget is $40 million collected in real estate taxes. Under Illinois’ tax cap legislation, taxes can only increase 2.1 percent, the increase in the Consumer Price Index.
 
In addition, H-F will receive $11.48 million in state aid, said Mark J. Sheehan, interim business manager. Under the state’s new evidence-based funding formula, the district’s share of state funding jumped 7 percent.
 
Salaries are budgeted to show an increase of about 2.4 percent. Sheehan said negotiated salary agreements call for a 3 percent salary increase, but the overall costs dropped because of retirements and a resignation from the staff.
 
Sheehan reported the “total fund balance is expected to reach $62.6 million in 2018-19 or about 13 months of reserve or about $15 million more than the district’s policy of 10 months in reserves.” Sheehan said the 2019 budget shows an approximate $3 million surplus between operating costs and the overall fund balance, but that money is allocated to pay for the remodeling work on the Natatorium.
 
The school board is considering whether it will spend a portion of that $15 million for a fine arts project that would include construction of two wings onto the building and remodeling of other spaces.
 
The board had a major capital outlay when in March 2018 it agreed to spend $3.89 million remodeling the swimming pool area. The majority of that expense -- $3.24 million – is in this budget. The capital fund also includes work replacing windows, working on roof replacement and air conditioning in the North gym.

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