The New Trier Board of Education approved the high school's $96.1 million for the 2013-14 school year at the September board meeting last Monday. This year's budget is a 2.3 percent increase over 2012-13's budget. The final budget did not change from the tentative budget released in July.
The budget includes a placeholder for items related to the Faculty Association's contract. The Board and the Education Association reached a tentative agreement on the contract on Sept. 12, but no details will be released until the faculty negotiating team has a chance to review the agreement with Association members. After the contract is ratified, details will be publicly released.
The approved budget gives the district a balanced budget with around nine months in reserves. New Trier has increased its reserves each year over the last five years, and has earned top honors from national school finance groups, and Moody's Investors Services gave the school an Aaa bond rating.
State and Federal revenue to the school ended up being around $238,000 less than the board originally thought in May, due to ongoing state and federal funding cuts.