Beecher Community Unit School District 200U Finance Committee met Aug. 1.
Here is the minutes provided by the committee:
The meeting was called to order at 6:03 pm with all committee members (Dousias, Hermen and Wcisel) present.
A review of the FY2019 finances was discussed. The approved budget was to put $442K in the bank, however the year ended only putting $282K in the bank. The fiscal year ended with $15.3M in reserves.
The preliminary budget for FY2020 reflects deficit spending for approximately $664K leaving $14.6M in the bank as of June 30, 2020.
Future financial planning was discussed. It was determined a 5-year plan needs to be developed.
The Superintendent will research the possible financial savings of paying off part of the District’s outstanding debt early.
The Village is discussing reducing or having a limited moratorium on impact fees. There was no support of this concept.
The meeting adjourned at 6:51 pm.
https://docs.google.com/file/d/1Yyju5kp0bnEkNWTvI65FvzRtRw526cwB/preview?rm=minimal
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