Peoria Public Schools is facing a projected budget deficit of more than $12 million this fiscal year. Peoria Public Radio’s Alex Rusciano reports that’s double the spending gap for last year:
District 150 Treasurer Mark Wilcockson says the biggest challenges are rising salaries, stagnant state aid funding and, in recent years, dwindling property tax revenues. But he says most of the district budget planning needs to start in the fall rather than the spring. To that end, Wilcockson wants to create a budget planning committee composed of district finance and instructional staff:
“And we just need to come to a consensus on how big we want to be as a district, what we want to be doing at the district, how we want to allocate our money.”
80-percent of the district’s expenses are for salaries and benefits. Wilcockson says staff cuts and program reductions will likely be considered as the district tries to close the spending gap. This year’s larger budgeted shortfall, if it stands, also would require the district to adopt a deficit reduction plan. The School board holds a hearing and votes on the proposed budget September 22nd.