Long-Term Financial Stability

 

Long-Term Savings

Long-term savings have been set aside to pay for significant upcoming expenditures. For more than a year, District 200 has been engaged in long-term planning to address a variety of facilities issues. The District also currently is engaged in strategic planning, which will establish a five-year plan for the District. Recommendations will emerge from these processes in the coming months, allowing the District to address with much greater specificity the costs of implementing recommended programs, facilities improvements, etc.

However, to answer community concerns about the District’s current total fund balance, we have attempted to provide  estimates for the expenditures that are expected to place a heavy burden on the District’s fund balances within the next few years. Please keep in mind that the figures provided here are only estimates and may change significantly. Please see below for the assumptions on which they are based:

  • Increased Enrollment - $29,133,000: Based on a detailed enrollment study of actual, current Oak Park and River Forest populations that was commissioned by District 200, the high school's enrollment is projected to grow by nearly 700 students by 2022. This will require additional certified teachers and support staff; reconfiguration of classrooms; and additional technology, equipment, and furniture.
  • Facility and Pool Updates - $50,000,000: The high school was built in 1907; the newest part of the building dates to 1967. Necessary updates to our vintage building include classroom reconfigurations to accommodate increased enrollment, science labs, pools, technology infrastructure, and safety and security improvements. The estimate provided here is based on comparable work done by Legat Architects, the District’s architecture consultant, on the Niles Township High School District pool and on the similarly vintage buildings of Glenbard Township High School District.
  • Pension Reform - $15,064,672: The State of Illinois has debated shifting pension costs to local school districts. The figure provided estimates the possible cost over the next ten years.
  • Collaboration for Early Childhood - $4,201,111: Research indicates that early-childhood intervention has learning benefits throughout a child’s life. On February 28, 2013, the Board of Education passed a resolution to develop an intergovernmental agreement with District 97 and the Village of Oak Park to help fund the Collaboration. The estimate provided is the cost over the next ten years.
  • Unfunded Amount - $46,836,168: The estimated costs of the items above exceed the District’s current long-term savings by $46,836,168, necessitating further decision-making about which projects to fund and how to fund them.

<- Back | Home ->