At their meeting on July 12, 2023, Dr. Brian O’Keeffe, Assistant Superintendent for Business Services, presented the Board with the tentative FY24 (2023-24) Budget. The Board approved the tentative budget for community review and comment. Highlights of the FY24 budget include:
The FY24 operating budget (all funds except Debt Service and Capital Projects) is $210 million and is balanced.
The budget for high-priority capital projects (mechanical, roofing, flooring, paving, etc.) is $9.9 million and represents the Board’s continued commitment to making investments in our infrastructure providing our students with the best possible learning environments.
As noted in District 200’s Portrait of a Graduate, academics and learning are at the foundation of our work. An academically excellent student is someone who possesses mastery of core academic content and skills and recognizes the importance of being a life-long and self-directed learner. Toward that end, District 200 has invested to support learning acceleration and implementation of a new English language arts curriculum at the elementary level.
The District continues to be a responsible steward of public tax dollars.
At an operating expense amount of $16,879 per pupil in FY22, District 200’s operating expense per pupil has historically been below the State average and is the second lowest among our other benchmark districts.
The FY23 Fund Balance (savings) is estimated to be around 32%, within the range of the Board’s 25–40% fund balance policy. The final FY23 Fund Balance % will be available later this calendar when the FY23 audit is complete.
Standard & Poor’s maintained the District’s bond rating at AA+, the 2nd highest rating level possible.
The State Board of Education continues to designate the District in the Financial Recognition category, the highest possible, for the past seven years.
The FY24 budget marks 14 consecutive years of a balanced budget.
At their August 16, 2023 Board of Education Meeting, the Board will open a Public Hearing for community members who wish to provide public comment on the tentative budget. Questions and comments can also be directed to Dr. Brian O’Keeffe, Assistant Superintendent for Business Services, at 630-682-2025 or brian.okeeffe@cusd200.org.