Opinion

Emergency cash shows foresight

Posted January 21, 2008 10:00 pm

When state school aid payments are delayed, it's up to individual districts to meet financial obligations until state funds are released. This creates a tremendous hardship for districts that don't have fund balances set aside for emergencies.

I'm happy to know that in spite of its ongoing growth in student population, District 158 has the necessary fund balances to see them through these funding gaps.

Growing school districts with fund balances are few and far between, and I'm happy to live in a district that won't have to take out expensive short-term loans in order to meet monthly obligations because of state delays.

I doubt District 158 could make it through this funding delay without budgetary reserves that are a direct result of the 2004 referendum. Having enough money in the bank to cover unforeseen financial crunches is just sound financial planning. The fact that those referendum proceeds are also earning the district interest is also a bonus. I view this situation as just one example of how District 158 is on the right track in spite of the efforts of two board members who insist that referendum was never needed.

Carolyn Bien

Huntley

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