At the beginning of August, Governor Quinn finalized the FY2011
education budget with some significant funding cuts, most notably
a 42% reduction in Transportation funding. The Reading Improvement
and ADA block grants have been cut from the budget, and Bilingual
has been reduced by 16.2%. Our allocation for Title I has been
reduced to a hold harmless amount and nothing was appropriated
for Title IV, Drug Free.
In spite of these losses, we are projecting a balanced budget
in the Education, Retirement, and Tort Funds. Revenue from the
sale of Working Cash bond issues was deposited in FY10 for the
purpose of funding a major HVAC renovation project. A partial
payment for the project was made in June 2010; the final payment
will be made from bond proceeds residing in the fund balance,
accounting for the deficit in the O&M Fund. We project a deficit
budget of approximately 9% in the Transportation Fund, due to
state cutbacks.
2010-2011
Budget
