U-46's CFO heading to Plainfield

A southwest suburban school district has snapped up Elgin Area School District U-46's financial guru.

Plainfield Community Consolidated School District 202 board members Monday night approved a recommendation for John Prince to be named Chief Financial Officer. He will begin the role July 1.

In a written statement, Prince said that over the last six years, he has "been fortunate to be part of a team in a district that has made great strides academically, operationally, and financially. I think it is now time for fresh eyes and a new perspective."

Prince, of Sleepy Hollow, helped U-46 emerge from a $40.2 million hole officials found themselves in after the 2002-03 school year.

Cautionary spending has been a trademark of his tenure in the district.

For the 2008-09 school year, the district reduced $4.4 million in expenditures to help keep the books balanced.

Next year's $425 million spending plan - a mere 1.4 percent increase over this year's budget - also reflects an effort to conserve in uncertain economic times.

Plainfield, a 29,000-student district, has been searching for a chief financial officer for the past 18 months. The district is currently about $7 million in debt. Prince would receive a $178,000 salary in his first year, according to board reports. U-46 Superintendent Jose Torres said he is sad to see Prince leave. The search for a new financial officer will begin immediately, he said.