Board of Education adopts 2022–23 Budget

At their September 14, 2022 meeting, Dr. Brian O’Keeffe, Assistant Superintendent for Business Services, provided the Board with a final budget presentation with some updates to his initial presentation in July 2022. Following the presentation and discussion, the Board approved the 2022–23 Budget. We continue to strive to be operationally excellent, operating our district as efficiently and effectively as possible. Highlights of the FY23 Budget include:

• The FY23 operating budget (all funds except Debt Service and Capital Projects) is $197 million and is balanced.
• The budget for high-priority capital projects (mechanical, roofing, flooring, paving, etc.) is $7.8 million and represents the Board’s continued commitment to making investments in our infrastructure providing our students with the best possible learning environments.

The District continues to be a responsible steward of public tax dollars.

• At $14,446 per student (FY21), District 200’s operating expense per student has historically been below the State average and is the third lowest among our other benchmark districts.
• The FY22 Fund Balance (savings) is estimated to be around 31%, within the range of the Board’s 25–40% fund balance policy.
• Standard & Poor’s maintained the District’s bond rating at AA+, the 2nd highest rating level possible.
• The State Board of Education continues to designate the District in the Financial Recognition category, the highest possible, for the past six years.
• The FY23 budget marks 13 consecutive years of a balanced budget.

Questions regarding the FY23 Budget can be directed to Dr. Brian O’Keeffe, Assistant Superintendent for Business Services, at 630–682–2025 or brian.okeeffe@cusd200.org.