To: "Century Farms Chat" Organization: The Bixler Group From: "Fran Bixler" Date: Mon, 27 Jan 2003 16:02:21 -0600 Subject: [cfna] District 203 Referendum update! Reply-To: cfna@yahoogroups.com I recently was emailed this newsletter from CUE and thought most would like to know how District 203 is doing financially since the referendum last year. 203 Citizens United for Education We take our "CUE" from you CUE Newsletter Committee Kathy Benson, Pat Harrison, Ray Hill, Kerry Klaeren, Laura Kovarik, Russ Marineau, Anita Mraz, David Ritchie, David Shaftman CUE Newsletter No. 3, January 26, 2003 InfoCUE@svs.com Mission: Maintain community awareness, improve communication and encourage greater community involvement in education This issue is almost entirely dedicated to answering some of your questions about the district's finances. We posed some questions to Allen Albus, Assistant Superintendent for Finance. The following are those questions and his answers. 1. What are the latest financial projections showing? The latest financial projection, which is part of the Five-Year-Business Plan, was submitted to the Board of Education on January 6, 2003. That projection shows that the District is on track to meet the financial objective reducing the accumulated deficit to $6,000,000 by the end of the 2005-2006 school year. 2. What has changed in the last six months since the referendum? The State's actual financial condition is much worse than the State had projected in February and March. As a result, the District anticipates a reduction in State revenue for 2002-2003 of approximately $800,000, and additional reductions for 2003-2004 of $1,000,000. Interest rates have remained at post 9/11 levels. This was not anticipated in February, and will mean a decrease of several hundred thousand dollars in earnings on investments. Health costs have continued to escalate at double-digit amounts in both the public and private sector. (See Chicago Tribune article dated October 13, 2002) The District had projected a leveling off in premium costs in the January 2001 projection, but has had to revise that assumption. 3. Is the District still on target to reducing the deficit to $6,000,000 by 2006 as projected during the referendum campaign? As previously stated, the answer is yes. In recommending a $.53 rate increase, the administration factored in about a 2% margin of error relative to financial projection assumptions. While the State's financial position, low interest rates, and health insurance costs have significantly reduced that cushion, the District is still on target. 4. What needs to happen in order for us to hit that mark? Assuming that 2003-2004 represents the low mark of the State's financial problems, that interest rates begin to increase over post 9/11 levels, and that health insurance rate trends begin to show single digit increases in the next several years, we are on track to hit our mark. To compensate for future negative events that are not yet known, the administration is recommending that the Board of Education authorize the sale of some land, and the exploration of reconfiguring some non-instructional support services in order to reduce expenditures. The amount of revenue realized from the sale of land or possible savings from the reconfiguration of some support services would not have come close to resolving the financial problems that the referendum addressed. However, it will go a long way to ensuring the District's ability to weather current economic conditions should they sustain for several years, or absorb the impact of negative conditions that may not yet be known. _____ That concludes the report of our Question and Answer session with Allen Albus. If you are interested in getting more detail on the Five Year Business Plan (see summary below), please phone (630) 420-6324. Recent BOE agenda items * January 21, 2003 Air quality report on Kennedy JHS "New" School District Financial Profile 2003-2004 & 2004-2005 School Calendar Education Legislative Initiatives * January 6, 2003 3-Year Enrollment Projection District 203 Business Plan Dates to keep in mind. Monday, March 3, 2003 - According to the DuPage and Will County web sites, you must be registered at least 28 days prior to the election. By our calendar, 28 days ahead of the April 1, 2003 election is Tuesday, March 4, 2003. But does that mean the 28th day is ok or is that too late? We advise you to play it safe and register on or before Monday, March 3, 2003. Monday, March 10, 2003 - Absentee voting becomes available in person at Naperville City Hall and Naperville & Lisle Township Offices provided you live within the city of Naperville & Lisle Township, respectively. Other locations are available throughout DuPage and Will Counties. But see further about voting absentee below . Tuesday, April 1, 2003 - Election day (during spring break so plan ahead!) For more voting information, please visit http://www.dupageelections.com/ for information on elections in DuPage County and visit http://www.willclrk.com/registrn.htm for information on elections in Will County. Voting Absentee: We've read over the requirements on both the DuPage and Will County web sites and find them sufficiently complicated that we suggest you contact the DuPage County Election Commission at (630) 682-7440 or the Will County Election office at (815) 740-4616 for your specific situation. _____ For the benefit of those who have not seen the District's Five Year Business Plan, here is a summary of it drawn from various sources: Summary of the District 203 Business Plan * The Business Plan communicates that the school district is committed to achieving the March 19, 2002 referendum campaign objectives: 1. Maintain current programs and services (When the school district uses the word "maintain" it is intended to communicate that is affirming the continuous improvement process that allows the organization to revise programs as needed.) 2. Reduce the accumulated budget deficit across all funds to no more that ($6,000,000) by June 30, 2006 * Projected Instructional or Operation Issues 1. English as a Second Language Staffing 2. Designing for Excellence Staffing 3. Central Athletic Field Replacement 4. High School Renovations 5. Transportation Parking Expansion * Funding Strategies 1. Sale of Land 2. Outsourcing of some non-instructional support services * Administrative Summary 1. The school district is on track to accomplish the objectives of the referendum that received voter approval on March 19, 2002. _____ Note CUE has made every effort to report accurately the information in the above newsletter. Please inform us at InfoCUE@svs.com of any error or clarification required. We also invite your questions, comments, or expressions of interest which we will take as our 'cue' for topics in future newsletters. _____ If you do not wish to receive future copies of the CUE Newsletter, please reply with the word "UNSUBSCRIBE" in the subject line. If you receive duplicate copies or wish your future copy sent to a different address, please reply and let us know that as well. [Non-text portions of this message have been removed] Visit the Century Farms web page at http://www.centuryfarms.org Visit the chat email archive at http://groups.yahoo.com/group/cfna Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/