The Evanston/Skokie School District 65 now expects to end the current school year with a slightly smaller budget surplus than previously anticipated.
The School Board voted unanimously Monday night to adopt a final fiscal year 2014 budget that calls for an operating budget surplus of $1,097,692, about $55,100 less than previously projected.
The final net surplus is about $180,000 after prepayments of insurance premiums are taken into account, said Kathy Zalewski, the district's assistant business manager.
Changes from the tentative budget adopted in August include an increase of about $270,000 in operating revenue from a federal Headstart grant and other local revenues.
About $325,000 was added to the budget's expenses as a result of increased student enrollment.
In an interview today, Zalewski said surplus funds are deposited into the district’s fund balance account, which she said serves as a bank account for district expenditures throughout the year.
Zalewski said the district is still projecting a surplus for the 2015-16 school year, but deficits will likely kick in after that. However, she said, “these are only projections.” Projections “change quite often because the assumptions change,” she said.
No one spoke at a public hearing on the budget held before the board's vote.