Unit 4 official happy with district's finances
By Jodi Heckel
Monday October 27, 2008
CHAMPAIGN – The Champaign school board approved a deficit budget last month.
This month, it approved a contract giving 4.5 percent raises to teachers for each of the next three years.
So how is it going to pay for the raises?
The district is in a good position financially, says Chief Financial Officer Gene Logas. Actually, its finances look even better than they did just a few days ago.
Logas received word this week from auditors that the district's expected budget surplus from the last fiscal year – which he had estimated at about $2 million – will be closer to $3 million.
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