McLean County Unit District No. 5 Board of Education Finance Committee met June 19.
Here is the minutes provided by the board:
1. 2019-2020 Budget
● Mr. Hickman presented to the Committee a high-level forecast of what the 2019-2020 budget may look like for the Educational Fund. There is a structural deicit in the fund that will continue to grow unless revenues are increased and/or expenditures are decreased.
● The reliability as well as the increase in State revenue from the past year has been beneficial, but has not offset the normal year-to-year increase in expenditures.
2. Funding Options
● The Committee discussed many possible funding options to alleviate the structural deicit in the Educational Fund. Most likely it could be a combination of multiple funding options to bring stability to the fund.
● The Committee also noted that it is crucial that these funding options and the District’s needs be effectively communicated to the public.
3. Future Meetings
● The Committee discussed the meeting schedule for 2019-2020.
The meeting adjourned at 6:26 PM.
https://v3.boardbook.org/Public/PublicItemDownload.aspx?mk=50335636&fn=minutes.pdf
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