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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Elmbrook too hard up to manage up keep? Think again

 http://www.jsonline.com/story/index.aspx?id=675696

 

Elmbrook's surplus most in 10 years

Board members debate uses for $3.5 million

The Elmbrook School District ended the 2006-'07 school year with a $3.5 million surplus, the largest in a decade and the latest in a series of annual surpluses used to boost the district's reserves or fund capital projects.

But a review of district financial data shows that at the end of each year for the last decade - except for one year - the district has had surpluses ranging from $582,000 to $3.5 million. One year had a deficit, caused by health insurance costs

 

The $3.5 million surplus recorded June 30 boosted the district's reserves to $19,155,989. That increased the ratio of reserves to budget to nearly 25% compared with the minimum 15% ratio recommended by School Board policy.

Another nearly $1 million is proposed to be added to district reserves in the 2007-'08 budget, which would boost the reserves to $20,113,536 on June 30, 2008. Surpluses occur when expenses are lower than budgeted or revenue is higher than expected.

The $3.5 million surplus resulted from non-property tax revenue being $228,653 over budget and expenses being $3.3 million under budget.

 

When the 2005-'06 budget ended with a $2 million surplus, the School Board decided to spend about $1 million on districtwide maintenance and capital projects and leave the rest in reserves.

Borch recommended at Tuesday's committee meeting that the $3.5 million surplus be used to fund the Pilgrim Park heating project. Preliminary cost estimates were about $3.4 million, but that would include adding air conditioning.

 

 

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