District 58 Adopts 2012-13 Budget

The school board approved its operating budget Monday night, which includes a deficit of about $544,000.

The Downers Grove Grade School District 58 Board of Education voted unanimously Monday to approve a deficit budget for the 2012-13 school year. The budget, which was reviewed and discussed at several public meetings this summer, includes $57.4 million in normal operating aggregate revenues and $57.9 million in normal operating aggregate expenditures, according to District 58 Controller James Popernik. The total budget deficit across all operating funds—Education, Operations and Maintenance, Transportation, Working Cash and IMRF—is about $544,000, which district officials said will be used to accommodate needs in other areas. The new budget reflects planned continuation of all district programs; the addition of 20 minutes to the schools day…

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DuPage Chairman Presents FY 2013 Budget

DuPage County Board Chairman Dan Cronin presents budget for fiscal year 2013.

DuPage County Board Chairman Dan Cronin on Tuesday presented a budget for fiscal year 2013, with a spending plan of about $431.8 million. The proposed budget is an $8.1 million reduction from FY 2012, and includes cuts in full-time personnel and $16.9 million appropriated for campus and county-wide improvements, including the Enterprise Resource Planning (ERP) system. Cronin said county savings from the Enterprise Resource Planning system (ERP) are around $800,000, and the budget reflects significant cost savings as a result of evaluating operations of the 24 independent agencies in the county. According to a press release, one of the largest challenges for the county is the cost of employee pensions, accounting for $30 million in the …

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D58 Expects to Pass Balanced Budget for 2012-2013

Tentative budget to be up for review and approval July 9.

From the D58 website: The District 58 Board of Education recently got its first look at the tentative spending plan for 2012-13. The district’s budget is expected to be in balance, or very close to it, again this year.   Conservative budgeting, careful monitoring of—and proactive responses to—economic conditions, and continued maintenance of fund balances has put District 58 in a solid financial position. The 2012-13 tentative budget includes nearly $60 million in normal operating aggregate revenues and just over $60 million in normal operating aggregate expenditures. This does not include the Medical Reserve Fund or the Life Safety Fund. The district is planning to complete $3 million in Life Safety projects this summer using the last of …

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House Speaker Michael Madigan Says He Was 'One of Many' Who Signed Off on Overspending

Legislator makes rare public address at Elmhurst College Government Forum.

Illinois House Speaker Michael Madigan said the state has a long way to go to get out of its current financial hole. However, he said legislators made a good start last year by cutting Gov. Pat Quinn’s proposed budget by $2 billion. Madigan made a rare public address to a forum at Elmhurst College and outlined some of the fiscal challenges facing the state, but he offered few election year remedies. Tuesday’s event was the fifth annual governmental forum held at Elmhurst College. Madigan used broad strokes to outline some of the economic concerns facing Illinois, including pension reform, state budget, workers compensation, unemployment and educational reform. Madigan, a Chicago Democrat, said addressing the state budget is the most …

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District 99 Tentative Budget Available for Public Viewing

A budget hearing will be held on Sept. 19 at 7:45 p.m.

District 99's proposed budget is available for public viewing both online and at the District 99 Administrative Center. A budget hearing will be held on Sept. 19 at 7:45 p.m. The District 99 Board of Education gave tentative approval to the $76 million spending plan on Aug. 15. The budget is a balanced one, according to District 99. The district ended 2010-2011 with a net increase of nearly $3 million to its operating funds. Revenues exceeded the budget by 3 percent while expenditures were 1 percent under budget. “We’ve been bracing ourselves and planning for cuts in state aid, but have continued to receive relatively stable levels of support,” said District 99 Controller Mark Staehlin in a district release. The district proposes using its…

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Republican Senators Tout Budget Proposal

Illinois politicians say plan will save the state up to $6.7 billion annually; plan has come under fire by Gov. Pat Quinn and some economists.

“Illinois is sick and it’s time we take our medicine.” That is how state Sen. Carole Pankau (R-23rd) described Illinois’ financial situation during a media event touting Republican budget proposals targeting $6.7 billion in budget cuts. Pankau, along with fellow Republican State Senators Kirk Dillard (R-24th), Ron Sandack (R-21st), John Millner (R-28th), Chris Lauzen (R-25th) and Tom Johnson (R-48th) said their planned cuts will put Illinois’ fiscal house back in order. Dillard said if the state continues to follow the fiscal course set by Gov. Pat Quinn, the state will run an annual deficit of billions of dollars. He said if only $5 billion of savings is realized, then the state can avoid a deficit of $22 billion in five years and that …

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John J

11:12 am on Saturday, March 26, 2011

Chad, Yes, yes, yes it's all the Dems fault. The Republicans are saints dressed in teflon armor . A pox on both their houses.   more ›

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Options for Closing Budget Shortfall

A response to Mayor Sandack's request for ideas on the budget.

The Village Council continues to move forward on the Fiscal Year 2011 budget.  At the Oct. 12 village council meeting, Mayor Ron Sandack repeated his request for ideas on the budget. This is the presentation I made to council on Oct. 19.  It is part of the podcast recording on the village website (starting at 33:24).  I presented some ideas that do not entail new taxes or new borrowing, but which might reduce the need to raise taxes moving forward by bridging the revenue gap—if they can be done. Option #1 The Ogden TIF preamble agreement The preamble agreement between the village and Grade School District 58 was written in 2001. From the language of the agreement, it appeared that DG staff anticipated another round of heavy borrowing …

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William Vollrath

2:11 pm on Monday, November 1, 2010

PS Most citizens have no idea what a huge bomb of exploding downtown TIF debt is about to hit them in the face. The Village, like too many households, borrowed money to buy something it wanted but couldn't really afford. Also, you didn't answer my question, when do we see the projected tax revenue increases to pay for the TIF debt?   more ›