The Lake Central School Corporation's sizeable budget surplus may be short-lived.
Director of Business Services Rob James says the district ended the school year with a $2.7 million surplus in its education fund, where teacher salaries are paid.
"Normally, we do not like to be that high and have as much of a profit," James told the school board Monday. "We don't want to run in the red, but we're not here to stockpile dollars. We're here to put money into the classroom and our staff."
But he expects income and expenses to level out more.
The increase in state funding per student is expected to slow down, while the overall number of students is expected to drop by about 300. At the same time, insurance costs are going up.
"We had higher than normal claims, I'll say, for our health insurance, and that has become one of our biggest things that we have been trying to tackle, along with the benefits committee," James said.
The school corporation has been adjusting staffing numbers to match enrollment. James said 11 outgoing staff members will not be replaced.
But he said, overall, Lake Central is running well financially.
