Focus on Finance

Posted: September 28, 2018

At the Monday, September 24 Board of Education meeting, the board was presented results from the 2017-2018 audit by Jim Torti of Schowalter & Jabouri Accounting Firm and an overview of the 2018-2019 District 7 budget by Assistant Superintendent Dave Courtney. [Continue Reading →] – [2017-2018 Audit Report] – [Approval of 2018-2019 Budget]


 

Update on 2017-2018 Fiscal Year State Funding

Posted: January 26, 2018

The State of Illinois currently owes District 7 over $1.9 million for the 2017-2018 fiscal year (see below).

Amounts due from the Illinois State Board of Education include:

Special Education – Private Facility Tuition $184,436.89
Special Education – Orphanage 28,372.90
Special Education – Orphanage Summer 2,189.00
State Free Lunch and Breakfast 2,121.12
Driver Education 28,631.81
Regular Transportation 767,009.39
Special Education Transportation 586,799.52
Early Childhood Block Grant 269,010.00
Orphanage Tuition – 18.3 67,134.00
Total amount due $1,935,704.63

As of January 18, 2018, the total backlog of all State of Illinois bills is over $9.2 billion.


 

Update on District 7’s Status on the State’s Financial Watch List

Last week, District 7 was notified that the Illinois State Board of Education finished its bi-annual review of districts on the State’s Financial Watch List. District 7 remains on the list and continues to be required to share financial information, including quarterly cash flow statements and showing progress towards a balanced budget as a result of this status. [Continue Reading →]


 

The Financial Impact of Senate Bill 1947 on District 7

Posted: Sept 21, 2017


The Impact of Prop E on Property Values

Posted: March 23, 2017


After-Tax Impact of Prop E

Posted: March 17, 2017

Sources


Why a Referendum Now?

Posted: September 23, 2016

The Board unanimously approved a resolution that will place a request for an Education Fund tax rate increase on the November 8 General Election ballot.

This proposed increase will allow the District to:

  • replace aging textbooks and update curricula
  • replace failing school security systems
  • upgrade building technology infrastructure to support student access to technology
  • restore the technology replacement cycle
  • maintain existing performing arts and athletic programs
  • maintain current programs and opportunities into the future

This increase is necessary for the District to address ongoing revenue shortfalls caused by eight years of declining state revenue. If passed, this increase will ensure that the District can balance its budget by June 2019, as required by the Illinois State Board of Education. [Continue Reading →]


 

Focus on Finance Archive:

Week Date Topic
1 2-29-16 Focus on Finance Introduction: PDF Video
2 3-7-16 School Finance 101: District 7’s Total Revenue Budget: PDF Video
3 3-14-16 School Finance 101: Property Tax Revenues: PDF Video
4 3-21-16 School Finance 101: Federal Revenues: PDF Video
5 3-28-16 School Finance 101: A Summary of Revenue: PDF
6 4-4-16 Historical Background – Revenues vs. Expenditures: PDF Video
7 4-11-16 2016-2017 Proposed Expenditure Reductions & Fee Increases: PDF
8 4-18-16 Review of School Funding Plans under Consideration by the State: PDF
9 4-25-16 School Tax Rate Explanation and Comparison: PDF
10 5-2-16 What does the Education Fund support?: PDF
11 5-9-16 Academic Outcomes: Reflections from the EHS Class of 2016: PDF Video
12 5-16-16 Academic Outcomes: Part 2: Reflections from the EHS Class of 2016: PDFVideo
13 5-23-16 Academic Outcomes: Part 3: Reflections from the EHS Class of 2016: PDFVideo
14 5-31-16 Academic Outcomes: Part 4: Reflections from the EHS Class of 2016: PDFVideo
15 6-6-16 Academic Outcomes: Part 5: Reflections from the EHS Class of 2016: PDFVideo
16 6-13-16 Edwardsville High School: PDFVideo
17 6-20-16 Edwardsville High School Athletic Facilities: PDFVideo
18 6-27-16 Lincoln and Liberty Middle Schools: PDFVideo
20 7-11-16 District 7’s Ten Elementary Schools: PDFVideo
21 7-18-16 District 7’s Preschool Programs: PDFVideo
22 7-26-16 Special Education and Related Services: PDFVideo
23 8-1-16 Impact of the Continuing Financial Crisis on Academics, Technology, and School Security: PDF Video
24 8-10-16 Addressing the Long-Term Financial Stability of District 7: PDFVideo
25 8-17-16 Addressing the Long-Term Financial Stability of District 7 – FAQs: PDFVideo
26 8-24-16 Board Unanimously Passes Resolution to Place Education Fund Tax Rate Increase: PDFVideo
27 9-2-16 Focus on Finance Frequently Asked Questions Introduction: PDF
28 9-9-16 Focus on Finance Frequently Asked Questions: PDF