Kane County Reporter

Jennifer Porter, chief financial officer (CFO) of Community Unit School District 300, recently presented a final overview of the 2023 budget for the school board's approval.

Porter made her presentation at a Sept. 27 District 300 Board of Education meeting. 

"Tonight, we're going to go through a brief overview of the assumptions, projected revenues and expenditures, and what our expected fund projections are," she said at the meeting. "First and foremost, I want to let you know that this budget is designed to support our students to discover, innovate and succeed."

The only change from the original proposed budget, which was approved as the tentative budget, was an increase in the corporate personal property replacement tax by $2.1 million and an increase in evidence-based funding of approximately $3.8 million. All other incomes and expenditures remained the same as the original estimates.

While all state and local sources of revenue for the district have increased since the previous year, the federal revenue decreased by 4.43%, likely because of the end of ESSER funds being around the corner. The overall revenue for the district still increased 9.53% since 2022, mostly due to the tax cycle in the area.

The expenditures for the school district also increased since 2022, but only by 6.88%, less than the increase in revenue. More than 70% of the expenditures for 2023 are for salaries and budget, which include a 5% increase over the past year. There is an 11.66% increase in all other expenditures. The district is estimating a surplus of almost $10 million for this year’s budget.