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District 54 receives its 20th Meritorious Budget Award

For the 20th year in a row, School District 54 has received a Meritorious Budget Award from the Association of School Business Officials (ASBO) International for its 2016-17 annual budget.

The Meritorious Budget Award is conferred only to school systems that have met or exceeded the Meritorious Budget Award Program criteria. Developed by ASBO for school districts, the MBA criteria guide school business officials toward a quality school budget presentation by enhancing the school business officials’ skills in developing, analyzing, and presenting a school system budget.

Since its inception, the program has gained the distinction of being a prestigious award recognized by accounting professionals; bond counsel; underwriters; securities analysts; bond rating agencies; educational, teacher and citizen groups; and federal and state agencies.

District 54 seeks community members for Budget Review Committee

School District 54 is looking for community members who would be interested in serving on the Budget Review Committee. The committee will begin meeting in January 2017, so that the administration can present a tentative budget to the School Board before the 2017-18 school year begins.

The Budget Review Committee, consisting of board members, staff and community members, meets for the purpose of obtaining input on the acquisition and allocation of resources.

Member Responsibilities

  • Attend meetings on January 19 and May 4, 2017 from 5:45 to 6:45 p.m.
  • Participate in discussions on school finance.

To obtain an application for the Budget Review Committee or more information, click here. If you have the need to speak to someone, please contact Ric King, assistant superintendent of business operations, at (847) 357-5039 or RicKing@nullsd54.org.

Applications are due to the Rafferty Administration Center, 524 E. Schaumburg Road, Schaumburg, IL  60194, by October 31, 2016.

District 54 adopts 2016-17 budget

The District 54 School Board adopted its 2016-17 budget after a public hearing at its August 11, 2016, meeting. District 54 expects to spend $225,921,988 during the 2016-17 budget year and receive $226,877,027 in revenues.

District 54 developed the 2016-17 budget based on the following parameters:

Revenues

  • Interest income remains low.
  • Property taxes for levy years 2015-2016 are based on the Consumer Price Index (CPI), which was 0.8 percent for the 2015 levy and 0.7 percent for the 2016 levy.
  • Federal aid is estimated to show minor increases.
  • State aid is expected to remain flat. District 54 does not know for certain how much revenue it will receive from the state for any projected year because of the funding deficiencies facing the state.
  • Working cash will be used to balance the education budget and finance long-term capital needs.

Expenditures

  • There will continue to be a freeze on overall cumulative spending in supplies, purchased services and capital outlay. The only exception is in the Operations and Maintenance, where the cost of services, such as electricity, can’t be controlled; and in the Education Fund for planned textbook and technology adoptions.
  • District 54 will issue no new debt and has been debt free since Dec. 1, 2011.
  • Benefit costs are projected to increase by about 3 percent annually.
  • Projected salaries are based on 26 employees retiring at the end of Fiscal Year 2016 and raises to employees due to a change in their position on the contracted salary schedule, as well as a 1% increase because the district met growth targets in math and reading in the 2015-2016 school year.

Individual Fund Summary

Fund

Revenues

Expenditures

Education 188,232,410 188,737,505
Operations and Maintenance 20,427,876 18,791,383
Bond and Interest 20,000 0
Transportation 9,096,376 9,549,866
IMRF/Social Security/Medicare 6,758,476 6,750,000
Working Cash 350,212 1,939,465
Capital Budget Fund 1,939,465 0
Fire Prevention/Life Safety 52,212 153,769

 

Click here to view the detailed 2016-17  budget on our website.

District 54 receives Budget Award

For the 18th year in a row, School District 54 has received a Meritorious Budget Award from the Association of School Business Officials (ASBO) International. This year’s award was for its 2014-15 annual budget.

ASBO International designed the Meritorious Budget Awards Program to enable school business administrators to achieve a standard of excellence in budget presentation.

The Meritorious Budget Award is conferred only to school systems that have met or exceeded the Meritorious Budget Award Program criteria. Developed by ASBO for school districts, the MBA criteria guide school business officials toward a quality school budget presentation by enhancing the school business officials’ skills in developing, analyzing, and presenting a school system budget.

Since its inception, the program has gained the distinction of being a prestigious award recognized by accounting professionals; bond counsel; underwriters; securities analysts; bond rating agencies; educational, teacher and citizen groups; and federal and state agencies.

The Association of School Business Officials International, founded in 1910, is a professional association, of more than 5,000 members that provides programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources.

District 54 shares presentation, questions from education funding forum

On Oct. 30, Schaumburg School District 54, High School District 211 and Palatine School District 15 hosted an informational meeting to share information about Senate Bill 16 and education funding in Illinois.

Senate Bill 16, which was approved by the Illinois Senate in May, would dramatically reduce state funding to our three school districts by redistributing general state aid to districts in other communities for a total estimated loss of $31.5 million annually. District 54 would lose an estimated $12.4 million annually; District 15 would lose $11.1 million annually and District 211 would lose $8 million annually.

In District 54, we agree that there is a need for reform to the education funding formula; however, if Senate Bill 16 becomes law in its current form, District 54 would lose about $1,000 per student. This would represent the largest loss to any school district in Illinois, and a decline of 79.5 percent in the amount of funds we receive from the state of Illinois. If Senate Bill 16 were to become law, it would greatly impact our ability to provide a quality education to our students.

The intent of Senate Bill 16 is to provide greater equity among school districts across the state. In District 54 we believe that every student deserves the same opportunities to succeed regardless of location or economic status. However, that should be accomplished by giving additional resources to districts in need, not by redistributing money from other school districts. The solution is not to take from the taxpayers in District 54 and other suburban districts, but for the state to fully fund education and stop imposing unfunded mandates.

Thanks to everyone who has contacted their representatives, asking them to not support this bill. As a result of the public outcry against this bill, State Rep. Linda Chapa LaVia, the chairwoman of the House Elementary and Secondary Education Committee, has said she will not advance this bill in the House in its current form. However, we must remain vigilant and continue to monitor any and all proposed changes to education funding that would have a detrimental effect on our students.

School Funding Presentation on October 30, 2014

Frequently Asked Questions about School Funding and Senate Bill 16

District 54 seeks community members for Budget Review Committee

School District 54 is looking for community members who would be interested in serving on the Budget Review Committee that will be reviewing the 2015-16 budget. The committee will begin meeting in January 2015, so that the administration can present a tentative budget to the School Board before the 2015-16 school year begins.

The Budget Review Committee, consisting of board members, staff and community members, meets for the purpose of obtaining input on the acquisition and allocation of resources.

Member Responsibilities

  • Attend meetings on January 8, March 5 and May 7, 2015 from 5:30 to 7 p.m.
  • Participate in discussions on school finance.

To obtain an application for the Budget Review Committee, please visit our website at http://sd54.org/committees. If you have the need to speak to someone, please contact Ric King, assistant superintendent of business operations, at (847) 357-5039 or RicKing@nullsd54.org.

Applications are due in the District Office, 524 E. Schaumburg Road, Schaumburg, IL 60194, by Sept. 19, 2014.

District 54 adopts 2014-15 budget

The District 54 School Board adopted its 2014-15 budget after a public hearing at its August 21, 2014, meeting. District 54 expects to spend $234,676,600 during the 2014-15 budget year and receive $220,952,511 in revenues.

District 54 developed the 2014-15 budget based on the following parameters:

Revenues

  • Interest income remains at historic lows.
  • Property taxes are based on the Consumer Price Index (CPI), which was 1.7 percent in 2013 and is estimated at 2.0 percent in 2014.
  • Federal aid is estimated to show minor increases.
  • State aid is expected to remain flat. District 54 does not know for certain how much revenue it will receive from the state for the current year or for any projected year because of the funding deficiencies facing the state. However, we feel that we can project flat funding based on the budget approved by the Illinois General Assembly. Senate Bill 16 has passed the Senate and is currently sitting with the House for action. This new state funding model would eliminate $13 million in state funding for District 54.

Expenditures

  • There will continue to be a freeze on overall cumulative spending in supplies, purchased services and capital outlay. The only exceptions are in the Operations and Maintenance, capital projects and life safety funds, where the cost of services, such as electricity, can’t be controlled; and in the Education Fund for planned textbook and technology adoptions.
  • District 54 will issue no new debt and has been debt free since Dec. 1, 2011.
  • District 54 will use reserves to fund capital outlay expenses instead of issuing new debt. The deficit in the Operations and Maintenance Fund, for example, is due to the expenses involved in the early learning center project. District 54 will cover those expenses with its reserves funds.
  • Benefit costs are projected to increase by about 5 percent annually.

Individual Fund Summary

Fund

Revenues

Expenditures

Education $183,406,545 $181,407,563
Operations and Maintenance 18,823,800 32,644,386
Bond and Interest 278,629 0
Transportation 7,827,363 9,013,050
IMRF/Social Security/Medicare 6,980,593 6,925,185
Capital Projects 2,788,627 1,287,301
Working Cash 776,169 2,788,627
Fire Prevention/Life Safety 628,043 610,488

 

To view the detailed 2014-15 budget, visit the District 54 Board of Education website at http://sd54.org/board and click on the budget link in the August 21 Board Brief.

District 54 releases tentative 2014-15 budget

The District 54 School Board released a tentative version of its 2014-15 budget at its June 19, 2014, meeting. District 54 expects to spend $230,600,572 during the 2014-15 budget year and receive $218,463,884 in revenues.

District 54 developed the 2014-15 budget based on the following parameters:

Revenues

  • Interest income remains at historic lows.
  • Property taxes are based on the Consumer Price Index (CPI), which was 1.7 percent in 2013 and is estimated at 2.0 percent in 2014.
  • Benefit costs are projected to increase by about 5 percent annually.
  • Federal aid is estimated to show minor increases.
  • State aid is expected to remain flat. District 54 does not know for certain how much revenue it will receive from the state for the current year or for any projected year because of the funding deficiencies facing the state.

Expenditures

  • There will continue to be a freeze on overall cumulative spending in supplies, purchased services and capital outlay. The only exceptions are in the Operations and Maintenance, capital projects and life safety funds, where the cost of services, such as electricity, can’t be controlled; and in the Education Fund for planned textbook and technology adoptions.
  • District 54 will issue no new debt and has been debt free since Dec. 1, 2011.
  • District 54 will use reserves to fund capital outlay expenses instead of issuing new debt. The deficit in the Operations and Maintenance Fund, for example, is due to the expenses involved in the early learning center project. District 54 will cover those expenses with its reserves funds.

The tentative budget will be available at the District Office from July 1, 2014, through August 21, 2014. On August 21, 2014, a public hearing on the budget will be held at 7 p.m. in the boardroom of the Rafferty Administration Center, 524 E. Schaumburg Road in Schaumburg (prior to the School Board meeting that evening). The School Board is expected to adopt a budget at its August 21, 2014 meeting.

Individual Fund Summary

Fund

Revenues

Expenditures

Education

$183,406,545

$181,407,563

Operations and Maintenance

18,823,800

32,644,386

Bond and Interest

21,371

0

Transportation

7,827,363

9,013,050

IMRF/Social Security/Medicare

6,980,593

6,925,185

Working Cash

776,169

0

Fire Prevention/Life Safety

628,043

610,488

To view the detailed 2014-15 tentative budget, visit the District 54 Board of Education website at http://sd54.org/board and click on the budget link in the June 19 Board Brief.

District 54 receives Meritorious Budget Award

For the 17th year in a row, School District 54 has received a Meritorious Budget Award from the Association of School Business Officials (ASBO) International for its 2013-14 annual budget.

ASBO International designed the Meritorious Budget Awards Program to enable school business administrators to achieve a standard of excellence in budget presentation. The program helps school systems build a solid foundation in the skills of developing, analyzing and presenting a budget.

The Meritorious Budget Award is conferred only to school systems that have met or exceeded the Meritorious Budget Award Program criteria. Developed by ASBO for school districts, the MBA criteria guide school business officials toward a quality school budget presentation by enhancing the school business officials’ skills in developing, analyzing, and presenting a school system budget.

Since its inception, the program has gained the distinction of being a prestigious national award recognized by accounting professionals; bond counsel; underwriters; securities analysts; bond rating agencies; educational, teacher and citizen groups; and federal and state agencies.

The Association of School Business Officials International, founded in 1910, is a professional association, of more than 4000 members that provides programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources.

District 54 wins financial reporting award

District 54 has once again received the Association of School Business Officials (ASBO) International’s Certificate of Excellence in Financial Reporting Award for excellence in the preparation and issuance of its 2012 Comprehensive Annual Financial Report (CAFR).

Only 87 other school districts across the nation (9 others in Illinois) have received the award for more than 25 years. District 54 has received the Certificate of Excellence for 41 years. The award was received for the CAFR report for the fiscal year ending June 30, 2012.

“District 54 is privileged to have received this prestigious award year after year,” said Ric King, District 54’s assistant superintendent of business operations. “It not only confirms our consistency in providing superior financial reporting, which further enhances our fiscal credibility, but it also reinforces our dedication and commitment to our students, and our community.”

The Certificate of Excellence in Financial Reporting Program was designed by ASBO International to enable school business officials to achieve a high standard of financial reporting. The award is the highest recognition for school district financial operations offered by ASBO.