Oglesby Elementary to finish school year $1.2 million in the red – for now

Tax rate to fall even if district records deficit

Oglesby Elementary School logo

Oglesby schools are projected to finish the school year nearly $1.2 million in the red, but the district superintendent cautioned the numbers are fluid.

Wednesday, the Oglesby Elementary school board placed the 2022-23 tentative budget on display for 30 days. The budget currently shows revenues of $7.4 million versus expenditures of $8.6 million, leaving the district with a projected shortfall of $1,183,279. If it materializes, the district has the reserves to cover it.

“That’s the highest deficit since I’ve been here,” Superintendent Michael Pillion told the board. He noted the figures will be clearer next month.

However, Pillion said expenses were skewed by a planned project – HVAC and kitchen improvements at Washington School, ready for the first day of school – and Oglesby taxpayers won’t see the tax rate go up when La Salle County mails the bills next May.

“We’re actually going to be able to decrease the tax rate,” Pillion said. “All this will be done without increasing the tax rate.”

The board set a budget hearing for Sept. 21.