A balanced 2013-2014 budget was approved by the Collinsville Unit 10 School Board Monday.

The tentative budget approved by the board on Aug. 19 showed an overall deficit of about $4.5 million. The majority of the difference can be attributed to the flexibility of cash basis accounting.

Although it is acceptable to do so, past budgets have not anticipated early tax payments as revenues, Director of Business Affairs Uta Robison said. Last year, $1.7 million in early tax revenues were received. Early revenues were also received in 2012, but there is no guarantee they will be received this year, Robison said.

At the request of the board, Robison budgeted $1 million in early tax receipts for the fiscal 2014 budget and removed expenditures that will be paid in fiscal 2015 but accrued in 2014. The adjustments were made to make the budget as tight as possible, which is what the board wanted, Robison said.

Because the $66 million budget is balanced, the district does not have to submit a deficit reduction plan.

Past school boards have wanted to be more conservative with the budget, Robison said, so they tended to estimate revenues conservatively and have expenditures higher than what was expected.

“The probability that we will go over budget is basically a given,” Robison said. Budget amendments will have to be filed if this happens.

The district’s Illinois State Board of Education pre-audit 2014 financial profile, a barometer of the overall fiscal health of Unit 10, is 3.9. A 5 is the highest possible score.

The 2013 pre-audit score was 3.55. It was revised down to 3.45 after adjustments, which was better than a majority of area districts, including Edwardsville (2.0), Belleville Township High School (2.55) and O’Fallon (2.8).

Related story: http://metroindependent.com/2013/08/22/tentative-budget-approved-by-school-boad/933/