At its final meeting of the fiscal year in late June, the Bond County Community Unit 2 Board of Education approved an amended budget for fiscal year 2022.
The budget ended up much better than originally anticipated.
Superintendent Wes Olson discussed the outcome. “This particular budget that we are submitting to ISBE is $1,666,450 of a surplus, and I want to talk about why that is,” he said. “So, the first kind of big item that adds to that number is the CPPRT. We received $519,000 more than we had budgeted. Those budget numbers originally were what we got from the department of revenue. That nearly doubled what those projections were. That’s a corporate personal property replacement tax. I don’t have an answer as to why those revenues are so high, but it is across the state.
“The other areas where we had more revenue than what we had anticipated was with the National School Lunch Program. That was $600,000 over our original estimation.
“The other component of this is that we had anticipated…when we talk about local revenue, we budget usually 98% of local property taxes to come in, thinking that some of them won’t get paid or some of them might slip through the cracks. That number came in $113,174 higher.”
Click below to hear more of the superintendent’s comments:
ESSER is federal COVID relief money, and the reimbursements were $119,800.
The amended budget was unanimously approved by the school board.