DUNLAP, Ill. — The Dunlap School District #323 Board of Education Wednesday night addressed a number of budgetary issues, including the district’s current deficit.
During a review of the district’s 2020 audit, auditor Russ Rumbold explained the board was operating at a $1.6 million deficit for the 2020 fiscal year.
District revenues have fallen since 2018, and expenses exceeded revenues for the 2020 fiscal year, the first time this has happened since 2014, according to Rumbold.
The district’s financial profile score will also likely decrease this year because of the expenditures exceeding revenues.
Real estate value decreases contributed to close to $1 million in lost revenue from 2019 to 2020. 76% of the district’s 2020 operating revenues came from real estate taxes.
In addition to discussing the deficit, the board turned to Ridgeview Elementary Assistant Principal Emily Barnes to address the district’s SEAPCO withdrawal plan.
Over the past four months, the district has saved around $140,000 by pulling out of the SEAPCO Early Childhood Program, and Barnes estimated more savings could come should the district completely cut ties with SEAPCO.
The withdrawal plan is a multi-year process, and Barnes outlined the 2022-23 school year as the first potential year the district would be completely withdrawn from SEAPCO.
The plan to withdraw from SEAPCO is pending board approval.
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