South Cook News

The Community Consolidated School District 146 board heard a report from business director Jeff Charleston, who shared an annual report on its five-year project finances during its monthly meeting on March 22.

The report, given every year to help the board gauge the health of the district's finances and plan for any big purchases or projects and to see what areas will need work over the next year. The majority of annual budget development occurs in the spring and summer, Charleston explained.

Most of the district's revenues (74%) come from its annual property tax levy, although that number, however, is decreasing as the district receives increased state funds. The increase from state funding comes from property tax relief grants the district has gained, such as receiving $1 million two years ago and $1.2 million more last year, Charleston stated. The $2.2 million will be given to the school every year, which will drastically increase its funding. He also made sure to show the forecasted Consumer Price Index projections, as inflation is a major factor in project funding, he added.

In short, Charleston said, the district faces deficits in the short-term, but "surpluses long term. So again, these are these are just projections," he added. We're the most confident about what's happening this year and next year. And then it gets slightly less confident the farther out you go. But the trend is up, and that's a good thing for the district."

The district's expenditures look to remain steady, although many will increase by predicted amounts, Charleston added. The cost of employee health insurance is going to rise about 10% this year, although the increases will level off over the next five years, he added. Staff salaries will increase by amounts agreed upon in contracts, expenses for the education fund and operations fund will increase 2-3% in the next coming years, and transportation costs will increase by up to 10%. That number might be less based on driver recruitment. The district also plans on spending $1.5 million for HVAC improvements, he added.