What has happened to the monies from the referendum, and is the District’s financial status improving?
Monies from the referendum have been used as was promised. In nearly every category, actual increased expenditures have been held to the increase in the Consumer Price Index (CPI). Each controlled fund has been strengthened and Standard & Poors increased the District’s bond rating to AA+ earlier this year. This rating restores the District to the bond rating it held in the mid-1990s and equals the highest rating held by District 211. It is our intent to seek another upgrade in two years. The Board of Education is presently in the midst of developing a policy that will govern fund balances to ensure that reserves presently being accrued remain strong in the years to come. The Board also has authorized the use of $3 million per year for a three-year period for abatement of Bond and Interest monies. The effect of that action will be the levying of a lesser tax increase than is authorized by statute.
