Student Costs Increased for Avoca in 2011
District 37's financial rating declined along with its reserves.
High operating expenses and expenditures resulted in a drop of Avoca School District 37’s financial score in their 2011 financial year audit. The district had previously enjoyed a perfect 4.0, but the score was changed to a 3.3. David Cain, a CPA at Villa Park’s Milburn Cain & Co., shared the results of the audit with Avoca’s board of education at their November meeting. “You have been expending more than you have been taking in,” he said. “That gradually drags your reserves down, and if you continue that, you will drop your rank.” While much of last year’s deficits were due to significant capital items paid for by the district’s operations and maintenance fund, Cain noted that the operating expenses per pupil increased by $1,400 per …
In this Article:
Margaret Mcintyre
6:24 am on Monday, January 30, 2012
The predictable is happening. With the recession and permanent decline of housing prices, the perfect storm has occurred--fewer families moving to D37, resulting in fewer students, while spending continues at historic high levels, resulting in overspending paid for with reserves. Now is the time for D39 and D37 to merge and cut administrative staff....before D37 debt becomes a poison pill which … more ›