The new District 428 Board of Education is off to an impressive start. School board President Tom Matya, Vice President Tracy Williams, and former President Mike Verbic did not think it wise to set a precedent of spending one-time money on paying down any operational deficit.
According to the IL Capital Development Board the state issued a school construction grant to Dist 428 in October 2010. The state share ($21,156,874) was a matching percentage amount to the local share ($39,291,338). See page 16 on this PDF. It is likely that the local share was obtained from construction bonds authorized by the $110 million referendum.
Construction grants authorized by the Capital Development Board are governed by the Joint Committee of Administrative Rules – Section 71. That document appears to prohibit use of such grant money on any on-going operational costs (Section 40.130-b).
Matya asked board members to speak to community members and gather more ideas for discussion at the next school board meeting July 19.
So let’s discuss…
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