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School Finances

Tuesday, March 26, 2013

Geneva Schools Earn 'Highest Financial Designation' in 2013 ISBE Profile

About 65 percent of school districts qualify for the ranking, but the scary part is that number is shrinking and the number of districts on financial watch is growing—and Batavia and St. Charles are under review.

It's not a rare achievement—after all, 65 percent of the school districts earn "Financial Recognition"—but it's nothing to be sneezed at either, considering the direction some other Illinois school districts are heading. And while Geneva made the "highest" financial grade, documents show St. Charles and Batavia school districts in the "Financial Review" category—a drop from the "Financial Recognition" designation they enjoyed the previous year. Geneva School District 304 has received the highest financial designation in the Illinois State Board of Education’s annual Financial Profile, School District 304 announced in a press release. The Financial Profile provides a snapshot in time that helps ISBE gauge school districts’ financial …

Monday, February 11, 2013

School Board Will Move $5 Million From Education Fund to Pay Down Debt

The average Geneva property tax bill still is likely to go up $340 this year, and annual increases could continue.

The Geneva School District 304 Board of Education will use almost $5 million from its Education Fund to pay down debt on bonds it issued in 2004. The seven-member School Board unanimously passed a resolution Monday night to transfer $4,990,000 from the Education Fund to the Debt Service Fund. According to a chart* provided by Assistant Superintendent for Finance Donna Oberg, that $4.99 million will be applied to the 2004A Bonds over three years: * SEE CHART BELOW What does that mean for you, Jane or Joe Taxpayer? It's hard to say. This year, the owner of a $315,000 home should expect a $340 property tax increase. That was the number calculated when the School Board passed its levy in November, and Oberg said Monday night that number still …

Mitch Dinges

11:14 pm on Tuesday, February 12, 2013

Geneva politics is a perpetual shell game and full of platitudes for the general unsuspecting public. Wake up.   more ›

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