Revenues looking better than expected for APS

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AURORA | The financial outlook for Aurora Public School midway through the school year is in a slightly better situation than predicted by the district when it passed its $326.2 million budget in June.

The district saw an influx of money primarily due to an increase in property tax evaluations, increasing revenues by about $8 million. While APS had predicted property values would increase by nine percent, the district saw an increase of 17 percent when evaluations were made last year.

Along with an increase in tax revenue, the district’s prediction for its ending fund balance of about $8 million was $10 million under what the district actually had left in the bank. While the district wants to have a find balance of about $22 million, $18 million puts the district in a much better financial situation.

The proposed revised budget has about $12 million in increases to expenditures, including $3.1 million to salaires that were part of negotiations with the Aurora Education Associations, the teachers union for the district. The budget also has increases of $5 million for classroom curriculum and $1.8 million to use an outside agency to help staff hard to fill positions in the district.