District 55 Financial Update

As was the case last week with the District 56 School Board meeting for November, the District 55 School Board this week received a financial report showing expenses way ahead of income at this time of the school year. District 55 Finance Director Jim Lollis reported that through October the balance on hand with the treasurer for the district was $5,955,721. This reflects revenues received of $9,890,140 with expenses of $12,653,164. The money received included total tax receipts of $836,333. As was noted last week at the District 56 School Board meeting, we’re now entering a period where most of the local taxes will be paid, so the income should now outpace expenses for both Districts 55 and 56.