Meridian Community Unit School District 223 down in Ogle County is one step closer to a solution for its $2.4 million deficit.
In yet another Finance Committee meeting, leaders believe it's in the district's best interest to ask voters to say yes to a $1.25 million tax referendum.
Meridian CUSD #223 Board of Education President Bruce Larson says, "So we're looking to try and increase our revenue, we're going to ask for some cuts, and then hopefully we won't have to dip into our cash reserves nearly as much, and thereby staving off the point at which we would no longer be able to operate."
They also propose to divide the revenue between the three areas with the largest deficit: 56% will go to the education fund, 26% to operations and maintenance, and 18% to transportation.
This recommendation still has to go through a final vote next week.
"We're going to the full board on Tuesday the 22nd to present the resolution to have the board pass the resolution so we can go to a referendum on the property tax increase," says Larson.
If the board passes the referendum, voters can expect to see it on the ballots this April.
Larson explains, "If the resolutions don't pass we may have to take out bonds and loans to make it through. And if we do take out the bonds and loans to make it through our budget, unfortunately the bond and interest rate in going to be added into the taxed."
This is the third installment of these weekly finance committee meetings. Teachers and parents who have been there regularly seem okay with the idea that at least tonight's decision
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