DIXON – After 2 years of deficits, the Dixon School Board unanimously approved a fiscal year 2019 budget Wednesday that's back in the black.
The education fund, which pays primarily for salaries and benefits, is expected to see $21,050,060 in revenue and $21,015,839 in expenditures.
That's up from $20.6 million and $21.4 million last fiscal year, and $20.6 million and $20.8 million the year before.
The FY19 $34,221 surplus, caused by an increase in state aid and a $355,000 bump in local income tax revenue, will bring the reserve fund to about $924,349.
That's compared to $890,128 last year and $1.6 million the year before.
The district's state aid is up $167,411, thanks to Illinois' new evidence-based funding formula, which funds schools based on each district's individual cost to educate each of its students. All told, the district will be getting about $5.9 million from the state, up from $5.7 million last fiscal year, and $5.5 million in FY2017.
Because 10 teachers are retiring in 2020, and will be replaced at much lower salaries, the district can expect to see even more in its reserve fund that year, business manager David Blackburn said.
The Dixon school board next meets at 6 p.m. Oct. 17 at the school district's central office, 1335 Franklin Grove Road.
Go to dps170.org or call the school district's central office at 815-284-7722 for an agenda or more information.