Why is District 26 suddenly facing a budget deficit?
Budget deficits are not new to District 26. The district has operated with budget deficits for three of the last four years (2001/2002, 2003/2004 and 2004/2005). The 2002/2003 budget would have shown a deficit of $3,617,100 if the three bond sales had not been written into the budget ($1,000,000.00 in Working Cash , $2,275,000 in Site & Construction and $600,000 in Life Safety). The latter two bonds (Site & Construction and Life Safety) were not sold. In addition, $500,000 of Working Cash was moved into the Education Fund during 2002/2003.
