Bloomington’s District-87 is dealing with a $2.6 million deficit.
The district’s Chief Financial Facilities Officer, Colin Manahan, says their expenses total $73.2 million but only have $70.6 million saved up.
In order to overcome the deficit, leaders will have to transfer money from their “working class funds” to their “education funds” a process he says many school districts across the state use.
They attributes the lack of funds to the state and being financially conservative when predicting their expected revenue for the school year. A process Manahan says earned them a surplus of $200,000 last year.
Despite the lack of money, he says this the district and its workers aren’t concerned moving forward.