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Vision 129
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TV SD129
 
  Financial Responsibility  
  State Funding Delay as of
February 23, 2010

September 2009


Adopt a balanced 2010 budget
July 2009


  • Evaluate print management needs throughout the district for possible areas to cut costs

  • Train staff on ongoing basis to use best accounting practices
  • May 2009


    Extend budget timeline to address state funding delays and uncertainties
    February 2009


  • Borrow $12 million by issuing tax anticipation warrants to pay bills through June 2009

  • Approve implementation of Financial Reduction Plan:
    • Reduce staff by 55

    • Reallocate Lincoln students to available space within District

    • Delay implementation of facilities maintenance and repairs

    • Freeze bus refresh cycle

    • Evaluate employee benefits plan for cost savings
     
    December 2008


  • Create 403b Cooperative with School Dist. 131

  • Share costs with School Dist. 131 of new unfunded federal 403b mandate
  • October 2008


  • Form finance committee
  • August 2008


  • Share costs with School Dist. 131 of administrating new federal mandate to provide more services concerning 403(b) retirement plans


  • Implement new automated substitute teacher assignment service to reduces costs and improve communication


  • Strengthen residency checks to assure that only District 129 children attend district schools

  • Settle teachers’ contract – longer schools days – class size maximums
  • February 2008


    Save taxpayers $2.7 million by refunding its existing debt at lower interest rates
    June 2007


    Hire PMA Consulting to provide detailed financial analysis and projections
    May 2007


    Cut special education transportation costs by partnering with School District 131
    February 2007


    Hire performance-based auditor
     
    October 2009

  • Accept 2009 audited financial statements

  • Earn a district financial profile score of 3.15 with the designation of ‘Financial Review’
  •  
     
    August 2009

  • Celebrate passage of state law that eliminates the state penalty imposed on taxpayers who pass school district operating rate referenda

  • Examine equipment and technology for possible cost savings through leasing

  • Form Financial Improvement Team to develop a multi-year financial reduction plan and monitor cash flow
  •  
     
    June 2009

    End fiscal year 2009 with positive balances in all funds
     
    March 2009

  • Implement Financial Planning Program – a tool used for financial forecasting and to run ‘what-if’ scenarios

  • Obtain Standard & Poor's highest short-term rating of SP1+
  •  
    January 2009

  • Decrease costs by increasing bidding and bidding review
  •  
    November 2008

  • Place accounts payable expenditures on Web for public viewing

  • Place bill listings on web page for increased community transparency
  •  
     
    September 2008

  • Accept gift of $50,000 play -
    ground at McCleery from Nestlé Pure Life and Jewel-Osco

  • Form District financial advisory committee to develop responses to economic changes

  • Receive gift of new $50,000 playground at McCleery
  •  
     
    June 2008

    Approved purchase of high school and middle school band instruments
     
     
    April 2008

    Receive $8,900 Library Grant
     
    March 2008

    Apply for $6 million Safe Schools, Healthy Students grant
     
     
    August 2007

  • Join state consortium for purchase of paper

  • Receive $971,000 Teaching American History grant to share with four other districts

  • Receive $10,000 BP Amoco grant for West High biofuel project

  • Use $2 million Reading First grant to improve reading of kindergarten through third-grade students at Greenman, Hill, Lincoln, Nicholson and Schneider
  •  
     
    April 2007

  • Referendum passes. Voters approve new operating rate

  • Save taxpayers $3.2 million by refinancing bonds
  •  
     
    May 2006

    Receive grant to install light fixtures that cut electricity costs $50,000 a year
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    School District 129 - 80 S. River St. Aurora, IL. 60506 - Phone: (630) 301-5000 - Fax: (630) 844-5710
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