Minooka High Board eyes $2 million in cuts

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Updated: March 11, 2012 8:28AM

MINOOKA — The Minooka High School Board is looking to cut $2 million from its budget.

In December, PMA Financial Network projected the district could face a $3 million deficit by fiscal year 2013.

The area’s equalized assessed valuation — the value of taxable property — has dropped over the past few years, reducing the district’s revenue. That has been compounded by rising expanses and increasing enrollment.

The district needs to find a way to reduce spending, Superintendent Jim Colyott said.

All these factors could create a deficit-spending situation, he said.

After last week’s regular board meeting, the board planned to begin closed- session discussions on ways to reduce the impending deficit.

They gave no indication where cuts might be made.

The district has excellent fund balances right now, Colyott said, but officials want to eliminate problems before they begin.

“The board and administration are working to devise a plan to minimize deficit spending and make sure we operate on those reserves carefully,” he said.