Quinn Announces Spending Cuts on Education, Effects on District 186
Governor Pat Quinn says there will be a 3% drop in spending on education, causing nearly $128 million to be cut from elementary and high schools.
The message came from Quinn's Wednesday Budget Address. Springfield District 186 Interim Director of Business Services Joe Bascio says cuts were expected. He says they were told the general state aid would be down again which will take down the fund balance even more. That has an effect on cash flow, which is already an issue, according to Bascio. He says the district is in preliminary discussions on a fix for that problem.
One idea would be utilizing working cash bonds. But tax caps would restrict the rate and limit portions of the bonds the District could pay back before 2024.