Community Finance Committee

The Education Finance Fact Book was originally created by the Community Finance Committee (CFC) in conjunction with District 64, primarily during the 2006-07 school year. It featured short chapters on property taxes, operating fund balance policy, ISBE financial profile, and other topics related to school finances. The Fact Book is currently unavailable.  For information about District 64 Finances, please contact Chief School Business Official Luann Kolstad, 847-318-4300.

The Community Finance Committee (CFC) is an independent advisory group of volunteers from the community and staff established by the Board of Education in 2004. The role of the CFC is:  to conduct analyses and provide advice on education finance issues as directed by the Board and Administration; to help build community consensus around these issues; and to provide a forum for community input.

The CFC is not currently active. Information about its prior activities is found below.

2013-14 Activities

  • Report to the Board of Education December 16, 2013 - Student Fees Study PDF (see also June 24, 2013 memo below)

2012-13 Activities

Reconvened in January 2012, the Community Finance Committee (CFC) has been at work on five studies that will be carried through the remainder of the 2011-12 school year and into much of the 2012-13 school year.  New volunteers are always welcome, and should contact Community Coordinators Ares Dalianis and Genie Taddeo, or via email to the Superintendent's Administrative Assistant Madelyn Wsol.

Draft reports have now been presented to the Board of Education (as noted below) on these five topics:  Taxpayer Education; 10-Year Financial Projections; Financial Transparency; Student Fees; and District Borrowing Options.

  • September 12, 2012 meeting (PDF of minutes)
  • November 1, 2012 meeting (PDF of minutes)
  • Report to Board of Education December 10, 2012  - District Borrowing Opportunities Study Group Report  (PDF)
  • January 8, 2013 meeting (PDF of minutes)
  • Report to Board of Education January 28, 2013  - Student Fees Study Group Report (PDF)
  • Report to Board of Education June 24, 2013 - Discussion of Student Fees Study Goals for 2013-14 (Proposal and Timeline) (PDF)

2011-12 Activities

2010-11 Activities  

2009-10 Activities

News Release

  • 2007 Referendum and Continuing Spend Management Help School District 64 Weather Current Economy (November 10, 2009) (PDF of news release)

Study Group Report

  • Financial Structure Study Group Report presented to the Board of Education Committee of the Whole on Finance November 9, 2009 on Fund Balance Outlook under Various CPI Scenarios (PDF of report)

Meetings of the full CFC:

2008-09 Activities

The CFC has adopted an ambitious schedule of projects for the year ahead.  Priorities were jointly established by the CFC and the District 64 administration, and were accepted by the Board of Education at its September 8, 2008 meeting. Priorities for 2008-09 Activities (PDF)

News Releases

  • Student Fees among this year's District 64 Community Finance Committee Topics (September 23, 2008) (PDF of news release)
  • School District 64 Community Finance Committee presents student fees study (February 10, 2009) (PDF of news release

Study Group Reports

  • Legislative Study Group Briefing Paper presented to the Board of Education October 27, 2008 on Constitutional Convention (PDF of report)
  • Spend Management Study Group report on student fees presented to the Board of Education February 9, 2009 (PDF of report)

Meetings of the full CFC:

2007-08 Activities

On July 14, 2008, the CFC reported to the Board of Education on its 2007-08 activities. (PDF of Powerpoint presentation)

Here are the key milestones in its work for the year:

In April 2007, the CFC offered an agenda for 2007 work and beyond. (PDF)

In Fall 2007, the CFC recruited volunteers for a new Legislative subcommittee, and to replace retiring members on its existing trio of study groups:  Financial Structure, Spend Management and Communications. (PDF) The CFC was officially reconvened in December, with many new volunteers among its ranks. (PDF)


CFC Subcommittee Cochairs Phil Eichman, Craig Elderkin and Diana Stapleton were named winners of the 2007 Award of Excellence -- the top honor -- in the "Those Who Excel" program sponsored by the Illinois State Board of Education. (PDF)

Prior CFC Activities

A trio of highly anticipated reports from the CFC, an independent advisory group, were presented to the Board of Education at the September 11, 2006 meeting. The CFC recommended that to restore its financial strength, District 64 should consider a tax rate referendum combined with new "spend management" techniques to pare down expenses while maintaining stepped up community outreach efforts. (PDF)

  • Communications Subcommittee 9-11-06 (PDF)
  • Spend Management Subcommittee 9-11-06 (PDF)
  • Financial Structure Subcommittee 9-11-06 (PDF)

In response to the Board's request, the CFC Financial Structure Subcommittee continued to enhance its financial model.

  • Financial Structure Subcommittee 9-25-06 (PDF)