QPS looking at $111 million budget for 2023-2024
QUINCY — The Quincy School Board received the district’s tentative 2023-24 budget at Wednesday night’s school board meeting.
The $111.3 million spending plan includes a 4 percent average salary increase for district employees and a 20 percent increase in health insurance costs.
The 2022-23 amended budget ended up at $97.6 million. The rising cost of health insurance and the $7.1 million being spent on the district’s new transportation and maintenance complex are the main drivers in the budget increase.
The budget will receive a formal vote by the School Board at its Sept. 27 meeting.
QPS Director of Business Operations Ryan Whicker said the budget is projected to be balanced with increased revenues across the board from funding sources as well as spending down reserves.
QSD 172 will receive an additional $900,000 in local property tax revenues, $716,000 in corporate personal property replacement taxes, $2.4 million more in federal funding and fully funded mandated payments from the State of Illinois, which in the past had lagged in its funding responsibilities to local school districts.
Capital spending will increase substantially, mostly due to the construction of the aforementioned transportation and maintenance facility located at 1600 N. 43rd. The overall cost of the project will exceed $10 million property acquisition costs are factored in.
Superintendent Todd Pettit said the bus parking lot should be poured next week. The facility’s wash bay walls are up and they are awaiting the arrival of the fuel tanks.
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