At the October 10, 2016 Working Board/Finance Committee Meeting, the Committee discussed several items to be brought before the full Board for approval at the October 24, 2016 Joint District 65/202 meeting.
Bond Financial Advisor Approval - After using Speer Financial as the district's bond financial advisors for many years, the administration recommended the use of the William Blair Company moving forward. At the board's request, the administration researched other bond financial advisors. Elizabeth Hennessy, Managing Director at William Blair, was present at the meeting to address any questions and concerns. She shared that the firm has extensive experience working with many other school districts including ETHS District 202.
Long-Term Financial Sustainability Planning - The administration shared a plan to map out information that will be presented to the board so that it may make an informed decision on options to address the impending budget challenges and structural deficit. The process will include:
- Compiling previously-presented budget information into a clear narrative on District 65's fiscal challenges.
- Presenting options for consideration and their implications - including both budget reductions and seeking additional revenue via referendum.
The information will be shared with the public through district communication channels and focus groups with the community on budget narrative. The board packet includes an outline on next steps aligned to upcoming board meetings.
Staff, families, and community members are encouraged to attend upcoming meetings or watch online to stay informed on planning efforts.
