District 211 to be debt-free in December 2017

Palatine-Schaumburg High School District 211 will make its final debt payment on its outstanding bonds in December 2017, and the district will then be debt-free.

The original debt proceeds were used to complete life and safety improvements to district facilities as required by the Illinois State Board of Education. The district will continue to make facility improvements in its buildings over the next several years and plans to fund them through the annual operating budget and existing reserves.

Facility improvement projects will include renovations to bathrooms and locker rooms, replacements of roofs and mechanical equipment, updates to outdoor facilities, and renovations to two cafeteria kitchens.

Upon paying the remaining debt and becoming debt-free, the district's strategic financial plan is to use yearly savings from its annual budget plan to pay for upcoming facility improvements.

The district's plan to use yearly operating funds to pay for facility improvements will provide tax relief to the community by avoiding the need for additional taxpayer funds to make debt payments.