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The Examiner U-46 News Feed

Trends continue within proposed U-46 budget


By Seth Hancock
  The Board of Education in School District U-46 is set to vote at its Sept. 23 meeting on the Fiscal Year 2020 budget which increases spending by $36.2 million or 6.5 percent ($594.3 million from $558.1 million) despite continued projected enrollment declines, the district expecting a loss of 950 students from 38,394 to 37,444 for a 2.5 percent reduction.
  A resolution supporting the budget and a public hearing was held on Monday, Sept. 9. Board member Eva Porter was absent.
  There was no discussion by the board, and no public comments were made.
  Revenues in the budget are projected to rise 6.2 percent or $34.9 million to $596 million from $561.1 million.
  The budget is larger than a tentative budget presented in June and the projections made in the FY2019 budget. This budget sets spending at $14.7 million higher than the tentative $579.6 million set in June and $35.2 million higher than the $559.1 million set in FY2019, and revenue is $15 million higher than the $581 million set in June and $31.7 million set in FY2019.
  Salaries and benefits are the largest expense at $403.7 million ($14.4 million increase from last year). Salaries will have risen $49 million ($254 million to $303 million) since 2016 and benefits by $11 million ($90 million to $101 million) which combined is over $38 million faster than the rate of inflation according to the Bureau of Labor Statistics (BLS) inflation calculator.
  Local sources make up the largest revenue side which is expected to increase $9.3 million ($323.6 million to $332.9 million) including a $3.1 million increase in property tax revenue ($303.8 million to $306.9 million). U-46 plans to again raise its property tax levy by the maximum allowed under the law while also planning an abatement.
  Based on the district’s revenue projections for this year, U-46 could theoretically cut its property tax levy by over $30 million and still increase spending this year. If the levy were held flat, spending could increase by $33.1 million.
  Dale Burnidge, director of financial operations, said “looking forward, we’re projecting about $6 million a year” in additional property taxation with estimated levy of $324 million by 2022.
  In Kane County, where U-46 is based, property values have dropped by 29 percent but property taxes have risen by 4 percent since 2007 according to Illinois Department of Revenue and Federal Housing Finance Agency numbers.
  The district expects to receive $197 million from the state under the “evidence-based” funding formula, an increase of $22.5 million from last year.
  The spending increases coupled with enrollment declines has become a long-term trend that is expected to continue indefinitely.
  The projected loss of 950 students this year would be the fifth straight year of enrollment declines, but U-46 plans to increase staff by 84 full-time employees (FTE) for a total of 4,810. U-46 expects to only utilize 67 percent of its capacity.
  The number of FTEs will have risen by 576, an addition on average of 115.2 FTEs annually, since 2016 while enrollment has declined by over 2,000 students since then.
  From FY2012 to FY2019, enrollment has dropped 5.6 percent (2,293 fewer students) and spending has increased by $128.1 million (29.8 percent) which is over $80 million faster than the rate of inflation according to the BLS inflation calculator.
  Forecasted from 2018-2019 to 2022-2023, the district expects a loss of 3,449 total students, 862.3 annually, for a 9 percent decrease in enrollment (38,394 to 34,945). At the same time, spending is projected to rise 14 percent to $636.2 million total.
  Using budget information and Illinois State Board of Education data, if the district’s future forecasts become reality there will have been a 14.1 percent decline in enrollment from 40,687 students in 2012 while costs will have risen 48 percent from $430 million in FY2012.
  On the state revenue side, the district forecasts annual increases in funding despite evidence suggesting Illinois is in poor fiscal health, possibly the worst in the nation.
  Illinois is $161.2 billion in debt according to usdebtclock.org, population has continued to decline and it is ranked the worst in the nation for financial health according to George Mason University’s Mercatus Center’s annual report. Since 2010, Moody’s Investor Service has consistently rated Illinois as the worst state in the nation with a near junk-bond status and $234 billion in unfunded pension liabilities.
  U-46 CEO Tony Sanders said “a lot of work went into” the budget and board member John Devereux called it “the single most important thing” that the board approves on Sept. 9. It took less than one minute for the district to present the budget resolution.

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