Hermes: SVE is in the black
SPRING VALLEY — At first glance, Spring Valley Elementary School District seems in dire straits with a budget deficit of more than $2 million dollars, but Superintendent Jim Hermes was quick to point out those numbers are deceiving.
“This is a positive budget,” Hermes said. “We’re taking in more than we’re spending.”
The official Fiscal Year 2013 budget shows a total revenue of $6.8 million, but expenses totaling $8.9 million for a total deficit of $2.1 million. This includes the projected amount the schools plans on spending this year for the new addition, which is already in the bank.
Therefore it counts as an expense but not a FY ‘13 revenue. In reality, the school is doing well financially with about $267,000 left over revenue at the end of the year.
“We’re trying to predict what the state is going to do,” Hermes said.
The district plans on spending about $2.4 million from the capital projects fund for the addition to John F. Kennedy Middle School.
Current cash flow is also going well with all funds having positive balances.
“Everything across the board is in the black,” Hermes said.
In other business:
• The district did not meet annual yearly progress in reading and math for the No Child Left Behind initiative. The district has spent a considerable amount of time working with students to improve in mathematics, and all levels, short of special education, met AYP for math. Hermes said they will start focusing on English and language arts using the Common Core curriculum. He said he was very proud of the progress students have made and the efforts of the teachers.
• The Spring Valley Foundation for Education Excellence is raffling off Chicago Bears tickets. The winner of the raffle wins two tickets to the Nov. 11 Bears game and $250 in spending cash. Second place wins $250. Tickets are $10, and winners will be drawn Oct. 31.
• Hermes said he’s working to combine the many different fundraising groups at the school and create a single super group for all fundraising. The goal is to eliminate competition and have unification.
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