Sangamon Sun

Ball-Chatham Community Unified School District 5 Finance Committee met Sept. 24

Here are the minutes provided by the committee:

The Finance Committee met on September 24, 2024, to discuss various financial matters. The audit report will be presented at the October board meeting. We have not received an update as of today.

The tax levy for the upcoming year will be based on the December 2023 CPI amount of 3.4%. The district is also preparing for a bond issuance, with the resolution of intent and bond issue notification act hearing scheduled for the October board meeting. The original amount of the bond issuance was $1.63 million, but it has increased to $1.735 million due to market improvement. The district will be issuing the resolution of intent for $1.85 million to account for potential further market improvement.

Enrollment continues to decline, with the district down 143 students for the FY25 school year. The district currently employs 638 people, not including coaches, and there are 48 open positions. The year-to-date revenue overview shows that local sources are $676,490 less than last year, primarily due to the timing of tax levy extensions and a decrease in CPPRT funding. State funding is also lower due to delayed special education and transportation payments. Federal funding is lower due to the end of ESSER II, ESSER III, and Tutoring grants.

The year-to-date expense overview shows increases in salaries, purchase services, and capital outlay. The increase in purchase services is partly due to the district's new method of paying for officials, game workers, and ticket takers using Arbiter Sports. The district is currently allocating $1,777,658 for the purchase of buses.

https://go.boarddocs.com/il/cusd5/Board.nsf/Public