Yorkville Y115 School Board OKs $92 million operating budget

YORKVILLE – With classes for the 2023-24 school year well underway, the Yorkville School Board has approved its spending plan for the academic season.

District Y115 board members signed off on a $92 million operating budget for fiscal 2024 at their Sept. 25 meeting. The budget year started on July 1.

A multimillion-dollar increase in funding from the state of Illinois is helping the school district to balance the books, Finance Director Kreg Wesley said.

The district is receiving $24.9 million in state aid this year, a $5.2 million jump over last year’s allotment, Wesley said.

The operating budget, about $800,000 more than last year, includes salaries for district teachers and staff, contracted services and supplies.

The total budget, standing at $106 million, includes capital projects, debt service payments and life, health and safety projects.

Technically, the total budget shows a $909,000 deficit, but that is because the district is rapidly spending down a $9 million bond issue for capital projects.

The money has been used to pay for things from roof replacement projects and school security cameras to a new synthetic turf surface at the Yorkville High School football stadium.

Wesley said the state’s evidence-based funding formula, which was introduced in 2018, is benefiting the growing school district. He is projecting a year-end operating fund balance of almost $80 million.