The Danville District 118 School Board has passed the new budget for the current school year. The vote at Wednesday (Sept 23) evening’s meeting had five “yes” votes among board members. Christopher Easton voted “no” due to the borrowing of money through working cash bonds that might be needed, while Reggie Warfield abstained due to the working cash bonds possibility, citing a work conflict.
District 118 Director of Finance Todd Pence stated that due to some teacher salaries that are now covered by grants; the budget deficit, once projected to be around $7 million, is now down to around $1.3 million. Expenses are projected in the low $107 millions, while revenues are projected in the upper $105 millions.
Pence also stated that $5 million in working cash bonds will be made available in case needed once the district has its audit, and other factors are weighed in.
AUDIO: The five million would go towards more-less a rainy day fund, just in case we need it down the road. It wouldn’t affect taxes for about 15 years. But it would increase the time that we payback bonds about two-and-a-half years.
District 118 Board meeting highlights: (1st Picture) District Athletic Director Mark Bacys reviews Fly Over Film Studios from Rantoul recently coming to DHS to shoot scenes for a movie. (2nd Picture) The District 118 Crisis Plan Team provides an update. (3rd Picture) New District 118 Food Services Director Douglas Libbra is introduced.
Board member Easton stated that the big elephant in the room, which will in his eyes probably determine whether the $5 million in working cash bonds is needed; is going to be how much the cost of insurance goes up this coming January.
AUDIO: My position is we’re voting to borrow money, which means that we don’t have enough cash on hand to meet expenses. And I believe before we should vote to borrow money, we should cut more expenses.
Meanwhile, once it was recently announced that Danville Area Community College is for now not continuing their adult education program; Superintendent John Hart immediately went to work on establishing a GED program at District 118. In updating everyone on this during Wednesday evening’s meeting, Hart stated that a $316,000 grant from the Illinois Community College Board has already been applied for. And soon, the district will be applying for a follow-up grant from the ICCB that could be anywhere from $75,000 to $375,000. Hart says whether they get one or both grants will determine how quickly they get this going; but one way or another, GED classes will be coming to District 118.
AUDIO: We will get a program running relatively quickly. We talked about just, maybe starting with, 15 students. I have laptops that we already have in the district that we will utilize for those. So again, I would assume by middle of October, beginning of November, we will have the first group going. So, short time frame; but we’re up to it.
The next stop for the District 118 Board will be Thursday (Sept 24) evening’s visit to the Tilton Village Board meeting to discuss Tax Increment Financing (TIF) District issues. District 118’s next regular board meeting will be Wednesday, October 14th.
In other news from Wednesday’s meeting, Douglas Libbra was introduced as the new Director of Food Services; and it was announced that an auction of surplus District 118 property is scheduled for 9 AM; Saturday, October 17th, in the Danville High School Fieldhouse. Items up for auction will include pianos, scaffolding, stage lights, mowers, and more.
