Unit Two Board Approves Deficit Budget For FY24

The Bond County Unit 2 Board of Education has adopted a deficit budget for the new 2024 fiscal year.

In the operating funds, expenditures exceed revenues by $415,496.

The budget was approved on a 5-1 vote. In favor were Aimee Frey, Adam Simmonds, Dylan Carr, Stephanie Gerl and Randi Workman.

Don Wall voted no and Ryan Reavis was absent.

During a public hearing conducted before the regular meeting on September 20, Superintendent Wes Olson talked about the budget. He said projected revenues for the FY24 budget are $22,861,456. Expenditures are $23,276,952, resulting in a deficit budget of $415,496. He said it’s not ideal but it’s not uncommon when doing projections. The superintendent said when they make the budget, they tend to be conservative when estimating revenue.

Click below to hear his comments:

Wall said he struggles with having a deficit budget and asked why it can’t be balanced.

The superintendent responded it’s not uncommon to have this situation because the district tries to be conservative in its revenue estimations. Olson said he believes by the end of the year the gap will close and the board can amend the budget.

Simmonds commented that this budget is a worse-case scenario, and in the past three years, the board has passed deficit budgets, with the last two ending with a surplus.

Olson talked about the importance of state funding and the federal COVID funds to the district. He said it was a game changer and saved the district. He said it remains the district’s goal to continue to offer a spectrum of high level services to students and families. At the same time they have a goal to reduce expenditures and not operate in a deficit continually.

Click below to hear more:

The new budget can be seen on the Unit 2 website under “board” then “finance.”

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