August 13, 2007 (Marcia McConnell, observer)
The meeting was called to order by president Shelly Marks at 7 p.m. Presentation of the Tom Dockweiler Awards for outstanding work during the past year was made to a student from each of the schools: Willow, Churchill, Millennium and James Hart by Superintendent Dale Mitchell. A plaque will be displayed at each of the schools with the name of the winner for that school year.
Ed Wahl, former business manager, presented the budget for FY 2008. The budget will be on display in the Superintendent's office for 30 days to provide tine for public inspection. A public hearing will be held at 7 p.m. on September 24 prior to the regular board meeting. The power point presentation noted that taxes provide 44% and state aid totals 29% of the total revenue of $24,273,600 for the district. Salaries total 70% and benefits add an additional 8 % to the $24, 422.000 in expenditures for the Education Fund. Mr. Wahl pointed out that several factors will change the current report after a meeting with the other taxing bodies and the village of Homewood to determine how the excess TIF funds will be distributed. Delay in passage of the State Budget, awaiting the Governor's signature, amounts to 29% of the revenue budget. Late property taxes in May, that may not be available until October, affect 47% of the revenue budget. The district expects to receive $400/per pupil in state aid but since that is delayed by the 2007 budget the board will have to use working cash funds if the state aid does not arrive in August.
Superintendent Mitchell explained that a joint revenue committee composed of all the taxing bodies will review each of the four TIF'S to discuss and project the distribution of the surplus funds totaling $6.5 million. District 153 estimates receiving a possible $2.6 million.
The board adjourned for an executive session at 7:55 p.m. to discuss a student discipline case. They returned at 8:15 p.m. and suspended the August 13 expulsion of three students effective as of August 13th.
With a balance of at least $5,045,000 presently in the Working Cash Fund, the board voted to partially abate and permanently transfer $1,000,000 from monies in the Working Cash Fund to the Operation and Maintenance Fund to provide money with which to meet the ordinary and necessary disbursement for salaries and other school purposes. Part of this is designated for the $910,000 work to be done in the summer of 2008. Monies from this fund may be needed to offset late payment from the state in order to avoid borrowing to meet expenses.
Jackie Parisi was introduced as the new business manager and the meeting adjourned at 8:30 p.m.
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