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Dist. 1 budget shows a slight deficit

Smith anticipates reality will see district end year balanced

COAL CITY — The Coal City Unit Dist. 1 school board approved its tentative FY14 budget at its regular meeting last week.

The budget projects a $162,123 deficit, with $31,254,963 in anticipated revenue and $31,417,086 in expenses.

Jason Smith, director of business services for the district, said those projections factor in a number of contingencies and that the final budget will likely be balanced.

“It will mostly be a balanced budget,” Smith said Friday. “We may even end up with a surplus.”

The district frequently spends less than budgeted and sometimes gets unexpected revenue, such as the recent $100,000 donation from the Gaddo family, Smith said, stressing that the budget is tentative.

“Things look pretty positive for this year,” said Superintendent Kent Bugg. “There are just a lot of things still up in the air.”

The education fund remains the largest budgeted expense category, with a projected $20,213,454 in FY14.

The biggest source of revenue for the district continues to be tax revenue from Dresden Generating Station.

Smith stressed the importance of Dresden Station to the district.

“It pays the majority of the tax revenue the district receives,” Smith said. “It has a huge impact on what we can plan.”

The district is concerned that the plant’s value may decrease in coming years, and are trying to look to the future.

“How do fluctuations in values of the plant affect us the next several years going forward?” Bugg said. “That’s one of the things we’re looking at now.”

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