Kane County Using Surplus Funds to Pay for Infrastructure, Pay Hikes

The court-security staff contract that was unresolved since 2008 finally settled, so the county has to pay $1.8 million in retroactive wages, the Daily Herald reports.

Remember the court-security staff strike that almost happened but was resolved at the 11th hour? Well, it's time to pay for the resulting pay increases—and for pensions, and for socking away some money for future infrastructure projects. The Kane County Board officials decided Wednesday what they'd do with about $7.8 million in surplus revenue, according to reports in the Daily Herald and Kane County Chronicle.  About $1.8 million of that eventually will go to the security staff union employees who had been working without a contract revision since November 2008. The good news is that conflict has been resolved and a strike averted. The bad news is that a new contract has yet to be negotiated, and the result likely will mean more dollars …

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How Much Debt Does Algonquin, LITH Have?

A Daily Herald analysis reveals how much municipal debt communities throughout the suburbs owe.

The amount of municipal debt the villages of Algonquin and Lake in the Hills owes is comparably lower than many other Chicago suburbs, according to a Daily Herald analysis.  The village of Algonquin owes $21,489,495 in total debt, which amounts to $715 per resident, and the village of Lake in the Hills owes $8,776,383 in total debt, which amounts to $303 per resident, according to a Daily Herald graphic detailing the amount owed in each community. Comparably speaking, the Daily Herald found Rosemont had the most debt — a total of $505,659,000, which amounts to $120,338 per resident. More financial information on Algonquin and Lake in the Hills can be found in each village's 2011 Comprehensive Annual report. The village of Algonquin and the…

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Anthony P.

10:19 pm on Thursday, October 4, 2012

Yes, I agree. Those are some fancy SUV's those police officers are driving around in. Not fiscally responsible.   more ›

District 300 Proposes Budget With Surplus as Contract Negotiations Continue

At this point, a $1.07 million surplus is projected.

The district's new chief financial officer Susan Harkins presented a tentative budget for 2012 with a $1.07 million surplus, according to a Northwest Herald article.  She said that budget is likely to change as contract negotiations continue with District 300 teachers, according to the article.  The Northwest Herald has more on this story.

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LITH Streets Slated for Resurfacing in 2012

The village board recently OK'd the 2012 budget for Lake in the Hills.

Will your street be resurfaced in 2012?  A motor fuel tax provided to Lake in the Hills by the state will help pay for several infrastructure projects, including $692,100 for the village's 2012 street resurfacing program and $140,000 to design a new bridge at Jesse Road and Hilltop Drive.  The following streets are slated for resurfacing in 2012:  Lake in the Hills Patch has more on the village's 2012 budget.

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Season of the Withering Wallet

Money issues have dominated the summer headlines. For many homeowners, the big story is a shrunken checking account.

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District 155 Looks at $1.5 Million in Cuts

The District 155 Finance Committee discussed the preliminary plans during a meeting Wednesday.

At a District 155 Finance Committee meeting Wednesday, members discussed preliminary plans to cut about $1.5 million from next year from the district's budget, The cuts could include $820,000 in reductions in spending, pay freezes and contracting with another school district for some special education services, according to the Northwest Herald. For more on this story, visit the Northwest Herald.

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District 300 School Board Votes to Cut Teaching Positions

More cuts expected in coming weeks.

The District 300 School Board voted Monday to cut several teaching positions as a way to deal with continuing budget woes within the district. According to a District 300 press release, the board had to vote on the release during Monday's meeting due to a legal obligation set up in which districts must give notice in a timely manner before the end of the school year. Some of those teachers may be called back to work if "funding becomes available this summer or if student enrollment exceed projections," according to the press release.  D300 school board voted to cut 31 teaching, administrative and counselor positions. The school board voted to cut the following positions during Monday's meeting: The following positions will be refilled or …

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District 158 Tasked With Tough Budget Decisions

The district's Committee of a Whole met Thursday to discuss a list of proposed cuts.

The District 158 school board has been tasked with making some tough decisions regarding budget cuts that have them grappling over what’s more important to a child’s education: Cutting staff or upgrading technology. The district’s Committee of a Whole met on Thursday where Chief Financial Officer Mark Altamayer outlined the following possible cuts as the district faces a $6.4 million deficit for fiscal year 2012: School officials said keeping the expenditures could result in the need to cut staff members, which could increase classroom sizes. Superintendent John Burkey said the board could consider cuts to non-teaching staff to save money as well. The board is scheduled to meet again on March 3. Refinancing Marlowe Middle School Debt The …

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District 158 School Board Looks to Slash Budget

The Committee of the Whole reviewed possible cuts to its budget during Thursday's meeting.

Consolidated School District 158 board members on Thursday night discussed postponing approximately $6 million in expenditures for 2012 in an effort to maintain a balanced budget and avoid future increases in classroom sizes. School board members and administrators reviewed the first draft of the Fiscal Year 2012 budget, which lists operating revenues at $74.9 million and operating expenditures at $81.4 million. If the district does not trim its budget it would face a $6.4 million deficit, Chief Financial Officer Mark Altmayer said. Altmayer provided the board with a list $6.5 million of expenditures to review. He said the board should consider the possibility of cutting the items or finding a way to decrease the amounts. The list includes…

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More Cuts Loom For School District 300

The D300 School Board recently passed the 2010-2011 budget with a $6.3 million deficit.

Despite coming off a hard year of cuts, Community Unit School District 300 is preparing for a dim financial forecast in 2010-2011. The CUD 300 School Board recently approved a $194 million operating budget for the 2010-2011 school year that carries a $6.3 million deficit. A federal jobs bill signed by President Barack Obama in August, which sends an additional $1 million to the district, which educates over 600 Lake in the Hills children, will lower that debt to $5.3 million. The school board will vote on allocating the $1 million at its meeting on Monday. School board members and administrators spent the past year slashing costs, cutting staff and eliminating programs – even turning school thermostats down -- in the hopes of minimizing …

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