As the 2023-24 school year winds to a close in the coming weeks, officials in Naperville School District 203 are dually ramping up preparations on the budget for the 2024-25 school year, with an eye toward staffing and safety.
Administrators offered up a preliminary glimpse into next year’s spending plan at a board of education meeting on Monday, May 6, with more discussion anticipated in the weeks ahead.
Expenses vs. revenue for District 203
As he gave a high-level overview, Chief Financial Officer Michael Frances indicated the process of building the 2024-25 school year budget has been underway since last fall.
“The budget is a reflection of the district’s goals and objectives,” Frances said. “It is needed to authorize annual spending. Throughout the fiscal year, we use the budget in several ways. Each month, we analyze annual revenue and expenses to make sure we are on track with the budget plan and, if needed, make adjustments accordingly.”
According to preliminary figures provided at the meeting, the expense side of the ledger could clock in at $356.28 million, representing a 5.15% increase from the 2023-24 school year budget of $338.84 million.
The revenue side, meanwhile, is an estimated $344.25 million, representing a 5.59% increase from the $326.01 million in the 2023-24 school year budget.
Reserves in the district’s fund balance could be tapped to bring revenue in line with expenses. District 203’s overall fund balance across all areas of the budget, as of Feb. 29, totaled $257.68 million, according to reported figures at the board meeting.
What’s new in the District 203 budget?
Several pieces of the budgetary puzzle have already been voted on in prior board meetings. For instance, enrollment-driven staffing increases, approved in March, reflect the projected expenses for the upcoming school year.
Across all grade levels, plans are in motion to increase staffing by 12.66 full-time equivalency (FTE) positions in anticipation of enrollment trends and specific student needs.
Since the recent vote, administrators are making several additional staffing requests, totaling 2 FTEs, to accommodate an instructional technology coordinator position and technical theater directors at both high schools.
Frances said several other spending initiatives are included in the budget proposal, several with safety in mind. Administrators are seeking approval for an additional school resource officer at the elementary and junior high schools.
Also proposed is the integration of a safety platform from the firm Centegix, which Frances said “will provide a panic button device to every staff member that will integrate into our notification and first responder systems.”
County clerks recently provided District 203 with tax calculations, which are helping solidify the revenue side of the budget. Property taxes comprise 84.9% of District 203’s income.
Frances said the district anticipates a $15.6 million increase in tax revenue from the current school year, factoring in the state’s 5% consumer price index cap, as well as $36.6 million in taxes from new properties.
Timeline for budget adoption
Under state law, District 203’s 2024-25 school year budget does not have to be set in stone until Sept. 30. But Superintendent Dan Bridges said the desire is to have it finalized before the 2024-25 school year fiscal period begins on July 1.
“We think it’s good financial practice to have it done in anticipation of the upcoming year,” Bridges said.
The draft budget is being presented to a citizen advisory committee this month, and further discussions of the document will take place at upcoming board meetings on May 20 and June 3. A formal public hearing on the budget is scheduled for June 17.
“There’s a lot of information here, and a lot to digest. That’s why we deliberately and intentionally take a lot of time with this,” Bridges said. “We will not be requesting any action for the budget until June 17.”
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