Barrington Community Unit
School District 220 approved another balanced budget, maintaining its strong
financial standing for a 17th consecutive year.
The school district’s solid financial planning puts it in Illinois State Board of Education's highest-possible category of financial strength. The school district also maintains its 'AAA' bond rating with a "Strong" designation from Standard & Poor's Financial Services, making Barrington 220 one of eight public school districts in the U.S. with this combined endorsement.
Barrington 220’s Board of Education approved budget while keeping its fund balance just under $50 million, representing 38 percent of the $129.6 million in budgeted revenues.
The reserve is an important safeguard in case of decreases to state or federal funding, economic downturns, urgent facility repairs, and to prevent borrowing due to uneven disbursement of revenues from the four counties within Barrington 220.
An illustrated summary of the 2013-14 budget presentation is available on the district’s website.
As part of the approved financial plan, the board allocated $1 million for instructional technology enhancements in the coming year and will adjust the budget accordingly when it completes current negotiations with the association representing its classified support employees.
Submitted by Barrington 220