Lemont Bromberek CSD 113 A Voluntary Employee Financial Meeting Thursday, January 20, :00 PM RV Multipurpose Room Dr. Tim Ricker Superintendent

Meeting Agenda: 1. Welcome 2. BOE -April 5 Referendum 3. Parallel Planning: a)State Financial Plan b)Staffing c)Transportation d)Central Issue 4. Other Things to Consider 5. Q & A

FY 11 Budget Approved by BOE – 8/16/10 Balanced Budget – Stability ◦ More Revenue than Expenditures ◦ Still Relies on Tax Anticipation Notes ◦ Will be reported Quarterly to BOE ◦ Second Step in Stabilizing the District Finances ◦ Amendment to the ISBE in March, 2011 ◦ Budget & Financial Plan on Web page

Referendum- April 5, 2011 Working Cash Bond -$20,000,000 Paid in 5 years Is second stabilization strategy for District according to State Financial Plan – Plan includes: Stability, Accountability & Priorities Stability: $8 M Annually- Addresses Cash Flow for District-No TAWS-money replenished with tax dollars Accountability: ◦ Policies on How Money is Spent ◦ Oversight by Audits and Reporting Priorities: Class size – Teachers – Programs ◦ Restoration: $12 M over 4 years ◦ Money Spent Down Through W/C Abatements Annually ◦ Go Back to Public after Year 4 for Approval of Continued Programs and Staffing-NO TAX INCREASE

Cost to the Tax Payer $20,000, Bond to Working Cash Fund $0.38 on tax levy-Paid off in 5 years Annual Cost to $300,000 home owner DuPageCook $357.00$ Automatically calculated by County Tax Payers Decide After Yr 4 to Extend at NO TAX INCREASE

Parallel Planning: State Plan: ◦ Yes- Amend Plan ◦ No- Cut $670,000 for FY 12 ◦ TAWs in July ($6.7 M) If TAWs not sold- Possible State Take Over Budget: FY 11, FY 12 & FY 13 ◦ Yes- Budget Adjustments with new money built into Plan for next 5 years ◦ No- Budget Adjustments with Continuation of State Financial Plan to build balances and not borrow for TAWs Staffing: March 21 - Notices Before Spring Break ◦ Yes- Implement Plan: Lowering Class Size, Teachers & Programs over 4 years ◦ No- Implement Financial Plan Transportation: Report/Recommendations Feb. 14 ◦ Yes- Implement Committee Recommendations ◦ No-Implement Committee Recommendations Central Issue: Report/Recommendations Feb 14 ◦ Yes- Keep open with possible new organization ◦ No-Possible Closing and Used as Rental Facility

Other Things to Consider Questions and Answers Get Involved & Stay Informed! me Call – Ext Will continue throughout the year with similar meetings Thanks in advance for all you have done and will do this school year!

Lemont Bromberek CSD 113 A Voluntary Employee Financial Meeting Thursday, January 20, :00 PM RV Multipurpose Room Dr. Tim Ricker Superintendent