Recent activity at Oak Park Elementary School District 97
Meetings, budgets, and plans from this organization.
Dec 21, 2108·Board meeting
Finance Oversight and Review Committee Meeting Minutes
The committee postponed voting on the November 2018 minutes, pending the addition of information from a Raymond James presentation. Discussions included updates on Lincoln & Longfellow expansions, a revenue review highlighting discrepancies between forecasts and actual revenues, and the November treasurer's report. The group also addressed a community update on referendum spending, transportation expenses, the adoption of a new FORC charge, a staffing report, and the identification of comparable districts for future analysis.
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Finance Oversight and Review Committee Meeting Minutes
The Finance Oversight and Review Committee (FORC) meeting primarily focused on the Lincoln and Longfellow expansions. A presentation on funding options was given, indicating that all options under consideration could be funded within the existing $57.5 million referendum budget. Concerns were raised about using all available funds and the need to consider the 5-year operating projections. The committee agreed that the total cost for the expansions could reach $30 million, but strongly encouraged the Board to include costs for external spaces and identify offsets if exceeding that amount.
Jan 30, 2108·Board meeting
Finance Oversight and Review Committee Meeting Minutes
The committee reviewed the DSEB timeline and resolutions, discussing the impact of new federal tax laws and the timing of bond issuance. Options for managing funds and potential interest rate savings were explored. The committee also addressed updates on IMET, community partner agreements (including parking, crossing guards, bike share, and PING), and building usage partnerships. Discussions included reviewing existing agreements, negotiating new terms, and defining criteria for future partnerships.
Aug 29, 2107·Board meeting
Finance Oversight and Review Committee Meeting
The committee reviewed and approved minutes from previous meetings. Discussions included interviews for a new underwriting firm, audit updates revealing errors and requiring a balance restatement, and a preliminary budget review with a focus on creating a "Budget at a Glance" for public understanding. Forecast5 projections were presented and deemed troubling, prompting a dedicated discussion in the next meeting. Progress on a fraud policy, capitalization policy, bond policy, and transparency policy was also reviewed.
