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Meeting Date:
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3/12/2025 - 7:00 PM
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Category:
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Action Items
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Type:
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Action
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Subject:
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Approval to Post the Tentative Amended Budget & Set the Public Hearing on the Amended Fiscal Year 2025 Budget
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Vision 2026:
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Operational Excellence Strategies 2 Maintain strong fiscal health of the organization.
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Background
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Section 17-1 of the School Code requires boards of education to adopt an annual school district budget before or during the first quarter of each fiscal year (by September 30), and if amending the budget, follow the same procedure as for the budget's original adoption. Prior to adoption, the Board must make a tentative budget available for inspection by the public for at least 30 days. Additionally, a public hearing regarding the budget must be conducted.
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File Attachment:
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Summary:
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Administration is bringing an Amended Tentative Budget for FY25 to the Board of Education for consideration. The reason for the Amended Budget is to account for the revenues associated with the General Obligation School Bonds, Series 2025, Bond Issuance and the increase in expenditures related to the Middle School Capital Projects that will be due prior to June 30, 2025.
Staff will review the main highlights of the FY25 Amended Tentative Budget with the Board of Education. The Amended Tentative Budget presentation will be made available for inspection by the public at the School Service Center and also will be posted on the District website. The FY25 Amended Tentative Budget booklet will be available after the closing of the Series 2025 Bond Issuance and all transactions have been recorded in the financial system.
A public notice (attached) regarding the availability of the Amended Tentative Budget for inspection will be published in the Daily Herald newspaper, which has a circulation within the local communities. The Public Notice will also include the date of the Public Hearing for the Amended Tentative Budget, which will be held at 7:00 p.m. on Thursday, May 8, 2025 at The School Service Center, 130 West Park Avenue, Wheaton, Illinois 60189.
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Funding:
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Board Policy
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4:10 Fiscal and Business Management
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Recommendation:
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It is recommended that the Board of Education post the Amended Tentative Budget for Fiscal Year 2025, and set the Public Hearing for said Amended Budget on Thursday, May 8, 2025 at 7:00 pm at The School Service Center, 130 West Park Avenue, Wheaton, Illinois 60189.
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Approvals:
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Recommended By:
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Signed By:
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Brian O'Keeffe - Asst Superintendent Business Services
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Signed By:
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Jeff Schuler - Superintendent
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Vote Results:
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| Original Motion | | Member Dave Long Moved, Member Brad Paulsen seconded to approve the Original motion 'It is recommended that the Board of Education post the Amended Tentative Budget for Fiscal Year 2025, and set the Public Hearing for said Amended Budget on Thursday, May 8, 2025 at 7:00 pm at The School Service Center, 130 West Park Avenue, Wheaton, Illinois 60189.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion CARRIED 7 - 0 | | | | | Brad Paulsen | Yes | | Rob Hanlon | Yes | | Dave Long | Yes | | Angela Blatner | Yes | | Julie Kulovits | Yes | | Erik Hjerpe | Yes | | John Rutledge | Yes | |
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