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A brief meeting Tuesday morning enabled the Alton School District to make an Interfund Loan transfer to keep the books balanced as the 2018-19 fiscal year comes to a close. Each fund will end the year with a positive cash balance, according to the Director of Financial Services, noting there is still deficit spending in the transportation fund, which required a transfer from the working cash fund.
Mary Schell tells The Big Z it is important to note that evidence-based funding formula passed by the state is improving in both added revenues and in the state making their payments in a timely fashion.
Click here for Schell's comments
The new budget for fiscal year 19-20 is already being put together. She says that must be submitted and approved by the ISBE (Illinois State Board of Education) by September.