The Clinton School District finalized their Fiscal Year 2013 budget last week.
The district received news from the State of Illinois they would receive around $200-thousand more than they were anticipating for their general revenue fund, however, they are still showing about a $1.5-million deficit. Superintendent of Clinton Schools, Dr. Jeff Holmes explains it is because they still do not know what they will be receiving from Exelon as a part of the appraised value of the power plant.
The Board proposed to Exelon a value of $240-million as their appraised value, which was upheld by the DeWitt County Board of Reviews, however, Dr. Holmes believes Exelon has challenged that by taking it to the Property Tax Appeal Board. If that is indeed what Exelon has done, a ruling could be some time away.
The proposed value the district brought to Exelon was only on a one-year basis, which means soon the district and Exelon will have to meet once again to discuss the values for next year. Dr. Holmes is hopeful when they get together they can get a deal done for next year and then at the same time work out something for this year, which would make the whole problem go away.
Another part of the deficit in FY13's budget is due to Illinois being behind in paying their bills. Dr. Holmes explains of the $1.5-million deficit, a little less than a million of it is money they have but cannot get to. Currently the state owes Clinton Schools is just over $400-thousand.