Read 2004 Auditor’s Letter

District 200, like most Illinois school districts, continues its struggle to maintain and improve programming with current resources. But the decision to sell $16 million in working cash fund bonds last summer was lauded by the District’s independent auditors at the December 8 Board Meeting. Tim Cole, auditor with William F. Gurrie & Co., supported the Board’s intent to use the bonds to curtail program and staff reductions while a long-term financial solution is being developed. Mr. Cole also made the following observations:

• The school funding system used in Illinois creates financial problems for most Illinois school districts.
• Tax rate referendums are more commonplace now and can be expected in school districts as often as every five years due to the impact of the tax cap legislation.
• About 76 cents of every dollar spent to operate the District is directed to the salaries and benefits of its employees.
• About 72 cents of every dollar received in the main operating funds comes from local property taxes.
• It becomes increasingly difficult to balance increased employee costs with increases in property tax revenues without staff reductions.

Click here to read the auditor’s letter.

Click here to review the 2004 audit.

To view these documents, you need to have a copy of Acrobat Reader installed on your computer. You can obtain a free copy of Acrobat Reader by clicking on the icon below.