State's late payments put district 100's rainy-day fund in jeopardy

School officials hosted a financial planning meeting Tuesday by PMA Financial Network at Belvidere Central Middle School. The meeting gave the district a stage to unveil its budget situation, history and give a projection of what’s to come.
“We think there’s going to be a deficit not only for next year, 2011, but we believe we’ll end up with a deficit for this year as well,” Greg Brown, business services director, said before the meeting.

Click on the following for more of the Rockford Register Star’s story:  State's late payments put district's rainy-day fund in jeopardy - Rockford, IL - Rockford Register Star

For a better idea of the district’s finances take a look at the actual slides that were used by PMA.  They are all available at District 100 website, click on the following:  http://www.district100.net/pdfs/PMA_Presentation.pdf

The assumptions on the revenue and enrollment side are especially telling.  Equalized Assessed Valuation will decline 7.5% for FY 2011 and 2012.  Enrollment peaked in 2009 and will fall by small amounts in coming years. There are operating deficits in every year with aggregate fund balances being halved by 2015 and requiring possible short term borrowings for operations. For your convenience I have highlighted several of the PMA slides below.   Do look at the others and see what is being projected for District 100’s future. Click on the photocopy to enlarge: