Photo caption: Photo by Sandy Zabokrtsky/Fairbury Journal News Vicki Banahan, President of the Fairbury School Board, swears in new school board member Daniel Lufkin at Monday evenings Fairbury School Board Meeting.
Fairbury Superintendent Fred Helmink informed the Fairbury School Board that Fairbury Public Schools will have their state aid cut by approximately $684,690.
The final numbers are not in yet, but the estimation places the loss between $650,000 and $700,000. State aid to the district last year was $909,711.
The loss of these additional funds will move the district to a non-equalized district.
Helmink explained that the Tax Equity and Educational opportunities Act (TEEOSA) state aid formula states that if the districts needs are greater than your resources, the school district qualifies for Equalization Aid, or more money from the state coffers.