School District 57 Approves Budget

By 250 News

School District 57 has approved it s budget for the coming school year , and  it calls for $127.5 million dollars in spending.

Problem is, the expenditures outweigh the revenue of $124.5 million.

The difference is $3.46 million which will be made up by drawing on the surplus from June 2006 of $2.8 million, a further $500 thousand in grants, and $161 thousand in literacy innovation grants. That will balance the budget.

The actual budget may be revised next fall after the actual school enrolment figures have been tabulated.

The Board noted 85% of the budget is wages and benefits, 15% is supplies and services.

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