What the Huntley teachers union won’t admit is the $17 million surplus in District 158 is already at work helping to pay for their salaries for last year.
Depleting the surplus with deficit spending begins a downward financial death spiral.
The school board has budgeted $500,000 of interest income for this year.
Last fiscal year (with higher interest rates) it brought in about $750,000 of interest income.
$500,000 is about 2% of what the total teachers’ salary is in Huntley District 158.
If it weren’t for the surplus they wouldn’t have been able to get the lucrative contract they got two years ago.