Strategic Objective Six:

Maintain Fiscal Responsibility that Reflects a Commitment to Student Learning and a Rich Variety of Programs and Services
 

The Board has created a goal to extend the original, 10-year referendum commitment made in 2007 by four years to 2020-21. The District must be cognizant of the factors that affect the financial health of District 64, while continuing to provide a variety of programs and services for all students.

Strategy

Desired Outcomes

Measures

A. Financial Stewardship
Use data to proactively manage District finances in a climate of changing funding patterns and increased mandates from local, state, and federal governments.

Maintain responsible approach to fiscal operations, ensuring cost efficiencies while maintaining high quality programs, services, and staff.


Utilize all revenue sources.


Understand local, state and federal legislative threats to funding through involvement in professional associations, ED-RED and FED-RED.

Assess the impact of salaries and benefits for all employee groups.


Utilize financial models to project impact of future increases in expenditures and changes in revenues.


Provide transparent, easy to access financial data to community.


Periodic updates to the Board of Education on legislative threats


Data displayed on financial dashboard.

Monthly financial reports and investment summaries

Annual long-term staffing projections based on future enrollment projections (UNDER DEVELOPMENT)

On demand long-term financial projections model (UNDER DEVELOPMENT)

Annual financial audit (Unqualified Auditor Opinion)

B. Finance Priority Projects
Finance priority projects identified in the Health Life Safety Survey and the Master Facilities Plan.

The Board of Education, staff, and community are aware of facility needs and financing options to make informed decisions about a project priority list.

District classrooms support 21st Century learning.

The Board adopts an annual  project priority list and determines financing

Rubric to assess how classrooms support 21st Century learning (UNDER DEVELOPMENT)

C. Fund Balance Policy
Adhere to the Board’s fund balance policy

Meet all of the District’s financial obligations and cash flow needs in a timely manner

Monitor days of cash on hand in the District’s operating funds on June 30 of each fiscal year against fund balance policy (120 days).

Report days cash on hand at close of each fiscal year

Track progress continuously in meeting the Board’s extended referendum goal of 2020-21 (UNDER DEVELOPMENT)

D. Finance Priority Programs
Collaborate with all District departments to ensure adequate funding is available for student programs and services

District departments will work together to understand the financial needs of the District to develop realistic and timely long-range budget priorities.

Long-term curriculum needs and state/federal initiatives considered when forecasting budget needs.

Fund priorities recommended by Program Review Committees

E. Plan for Future Challenges
Be prepared for the impact of future enrollment changes

Accurate enrollment trend data.

Review enrollment trends and conduct a boundary study to understand financial options to meet changing enrollment.

Provide adequate spaces to accommodate expected enrollments at all schools

F. Parent and Community Education

Engaging with parents and community members can inform, complement, reinforce, and accelerate educators' efforts.

District 64 provides information to parents, staff and community members about the alignment of resources to strategic initiatives.

Advisory committees include volunteers

Provide annual updates on investments in student learning and financial challenges

District Satisfaction Survey (UNDER DEVELOPMENT)

Website dashboard to communicate progress on all Strategic Plan metrics (UNDER DEVELOPMENT)

 

  • Parents
  • Students
  • Community
  • Staff

Parents

Students

Community

Staff