The finicial report was given to the Board of Education by Mike Francis. Photo by Amelia Likeum.
By McKayla Helm, Editor
The assistant superintendent for business, Dr. Julie-Ann Fuchs, reported at the Dec. 10 board meeting that the property tax increase, which was estimated to be 4.93 percent, would actually be lower at only 3.83 percent.
Jerry Elliot of Sugar Grove felt that the differing amounts and how those numbers were reached would “Create distrust” and cannot be effectively written into the referendum, a request for more money from the property owners of the school district. The differing estimates were due to the lack of financial information from Dekalb County.
Tony Valente pointed out that historically it is negotiated that 71 percent of every dollar taxes are raised by goes to salaries and benefits.
Mike Francis from CMA Financial Network presented a five-year financial projection for Kaneland at the meeting.
It is currently estimated that Kaneland will receive about $40.3 million in revenue, depending on objections on tax appropriations. This figure could also be influenced by the ISAT cut scores because it will look like the performance at the elementary school level is dropping. It was discussed that Kaneland seventh and eighth graders who are currently meeting standards may not, due to the change in the assessment of test scores. The board discussed how the new generation of assessments for 2014 will be affection this year’s ISAT scores.
Though the assessments are a tool to measure for high school and college readiness, Teresa Wit said, “We don’t want teachers to feel they need to teach to the test.”
Francis pointed out that the state and federal revenues to schools are typically paid twice a month and on time, but the reimbursements for special education and transportation are typically late. The school is currently waiting on about a million dollars in reimbursements, reported Dr. Fuchs.
There are also twenty four people who will be retiring over the next year. Possible pension funding changes in the state of Illinois could cost the school an additional $223,000 in expenses for these retiring people.
