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2009-2010 BUDGET HEARINGS

2009-2010 BUDGET HEARINGS. John Prince Chief Financial and Operating Officer. The Budget Planning Cycle. FY 2009-2010 Revenue Outlook. Consumer Price Index (CPI) drops from 4.1% –0.1% Estimated $9 billion state deficit in FY 2009 Lag in state payments to U-46 of $10-12 million

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2009-2010 BUDGET HEARINGS

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  1. 2009-2010 BUDGET HEARINGS John Prince Chief Financial and Operating Officer

  2. The Budget Planning Cycle

  3. FY 2009-2010 Revenue Outlook • Consumer Price Index (CPI) drops from 4.1% –0.1% • Estimated $9 billion state deficit in FY 2009 • Lag in state payments to U-46 of $10-12 million • Increase in foreclosures in Kane, DuPage and Cook County of 36% vs. 2007 • Increase in bankruptcies in Eastern Division of Illinois of 46% vs. 2007

  4. FY 2010 Revenue Outlook-Budget Local Revenue: • Assume minimal increase in property tax revenue due to tax caps tied to CPI. Possible decline in tax collections due to foreclosures and lower assessed values. State: • Assume no increase in General State Aid or categorical funding. Potential reductions in funds unless state increases revenue stream. Federal: • Uncertainty regarding federal Reinvestment and Recovery dollars. • Stimulus money is short-term and not sustainable. • Some stimulus dollars may require program expansion.

  5. Local property taxes are capped by the CPI (Consumer Price Index). The CPI hit an all-time low of 0.1% in January, down from 4.1% in 2008.

  6. Local Revenue Not Expected to Increase

  7. FY 2010 Revenue Outlook-Budget Local Revenue: • Assume minimal increase in property tax revenue due to tax caps tied to CPI. Possible decline due to foreclosures and lower assessed values of property. State: • Assume no increase in General State Aid or categorical funding. Potential reductions in funds unless state increases revenue stream. Federal: • Uncertainty regarding federal Reinvestment and Recovery dollars. • Stimulus money is short-term and not sustainable. • Some stimulus dollars may require program expansion.

  8. State Revenue Not Expected to Increase

  9. FY 2010 Revenue Outlook-Budget Local Revenue: • Assume minimal increase in property tax revenue due to tax caps tied to CPI. Possible decline due to foreclosures and lower assessed values of property. State: • Assume no increase in General State Aid or categorical funding. Potential reductions in funds unless state increases revenue stream. Federal: • Uncertainty regarding federal Reinvestment and Recovery dollars. • Stimulus money is short-term and not sustainable. • Stimulus dollars may require program expansion.

  10. Federal Funds - 2004 to 2010(Stimulus dollars not included ) +8.5 Million

  11. FY 2009-2010 Expenditure Outlook • Negotiated salary increases totaling $10.4 million • Employee benefit increase of $6.5 million • Pay freeze for administrators and non-union employees • Continue to restrict discretionary funds • Careful examination of staffing in all areas with reductions in force made in March • Reduce in a manner that minimizes impact on teaching and learning

  12. Investment Priority - Elementary • Lowering class sizes in all K-3rd classrooms to 25:1 • Lowering class sizes in all 4-6th classrooms to 28:1 • Literacy Coaches at all Elementary schools • Staffing to state standards in Special Education

  13. Investment Priority - Middle Schools • Increasing Rigor • AVID (Advancement Via Individual Determination • World Languages • Literacy coaches • SWAS (School Within a School) • Support for Students • Guidance Counselors • Fresh Start Flexibility

  14. Investment Priority - High Schools • IncreasingRigor • Advanced Placement Priority • Academy admissions increased • AVID (Advancement Via Individual Determination)

  15. Revenues and Expenditures

  16. Questions?

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