The changes in the State of Illinois’ model to fund public education has little impact on our district’s bottom line. For several years now, the district has tried to modify expenses through attrition and has addressed deficit spending through some combination of short-term borrowing and transferring balances between different operating funds.
This chart demonstrates how quickly the district would have NO CASH ON HAND if there is not significant increases in revenues or significant decreases in programs and opportunities for students.
3 Year Projections Doing Nothing
The Geneseo CUSD 228 Board of Education established a goal in the summer of 2017 that reads, “The Board of Education shall review options for adoption of a sustainable 3-year budget, make a commitment to a plan, and execute plans to reduce expenses and increase revenues for final implementation.”
Similar to some of the community engagement involved with the development of our Facilities Master Plan known as ProjectLEAF, we will now embark on a journey called LearningLEAF. This process is designed for an exchange of information ideas developed in the following ways:
- The district will communicate an overview of the newly legislated Evidence-Based Funding Model and what it means for District 228.
- The district will communicate historical data related to revenues and expenditures, particularly within the Education Fund, which is the primary accounting fund used by the district.
- The district will communicate information related to property taxation, particularly the education fund tax rate, and will further compare District 228’s taxation with that of other comparable school districts in Illinois.
- The district will communicate what it costs for short-term borrowing, and what impact may come from raising registration fees and other possible ways to generate revenues.
- The district will communicate possible methods for reductions of expenses, including changes in personnel and programs.
Twelve different small group sessions will be scheduled, each session lasting no more than 60 minutes and with no more than 20 persons. We want to hear as many different voices as we can to help provide input into options that would best help the Board of Education land on final plans for budget sustainability.
Please look for more information in the coming days on this site.