Home / News / Palos District 118 wants voters to be allowed to change funding to cover costs

Palos District 118 wants voters to be allowed to change funding to cover costs


Palos Elementary District 118 asked voters to approve allowing $4.35 million for debt service to be used instead of operating the funds, providing cash flow without increasing taxes, Superintendent Anthony Scarsella said.

Springfield has increased the number of services public schools must offer; full day kindergarten Scarsella said this plan will be implemented by the 2027-2028 school year without increasing school funding. This has forced the 118th District and other districts to get creative in finding funding.

“Springfield is definitely not sending any more money to Palos 118,” he said. “They’re there right now, and I can tell you I’m sweating thinking about the additional mandates that could be passed this General Assembly.”

The $4.35 million comes from shifting funds from the debt service fund to the operating fund, a fiscal maneuver that requires voter approval. Scarsella said he was unaware of any organized opposition because this referendum did not raise taxes but simply diverted money from one bucket to another.

“In December, the school district will make its final payment on all outstanding debts, so we will be essentially debt-free in December,” he explained. “So we will no longer need the $4.35 million the school district is currently collecting for the debt because the debt will be paid off.”

Because interest rates have risen in recent years, Scarsella said this referendum would not cost taxpayers more money and could even save money because they would not be paying interest on their debt servicing funds.

Brock Stein, director of communications and public engagement, said taxes would not go down if the referendum fails because school costs have increased. If taxes drop by $4.35 million, the district will go into debt again to cover costs and, as a result, spending will increase due to rising interest rates.

“Without additional operating revenue, the school district will become even more dependent on short-term borrowing to maintain school facilities and cover daily expenses,” Stein said. “This will result in continued borrowing costs for taxpayers at a time when interest rates continue to rise.”



About yönetici

Check Also

Meet the 2023-24 Aurora-Elgin men’s basketball all-District team

[ad_1] Players from Waubonsie Valley, West Aurora, Oswego East and Class 1A state finalist Aurora …

Leave a Reply

Your email address will not be published. Required fields are marked *

Watch Dragon ball super