Hazel Crest School District 152 ½

1. BOARD OF EDUCATION Ms. LaKeya Webb, President Ms. Kimberly Chalmers, Vice President Mrs. Gertrude Rucker, Secretary Mr. Cecil Banks, Member Mr. Dean Barnett , Member Ms. Gloria Lymore , Member Mrs. Heldia Richardson , Member Hazel Crest School District 152 ½ 2009-2010 Budget

2. Table of Contents Historical Summary Fund Balances Notice of Public Hearing FY10 Budget Highlights ARRA Funds Debt Service

3. Notice of Public Hearing NOTICE IS HEREBY GIVEN by the Board of Education of School District Number 152 ½, in the County of Cook, State of Illinois, that the tentative budget for said School District for the fiscal year beginning July 1, 2009, will be on file and conveniently available for public at 1910 W. 170th Street, Hazel Crest, Illinois from and after 8 o’clock a.m., on the nineteenth day of August, 2009. Notice is further hereby given that a public hearing on said budget will be held at six o’clock p.m. on the twenty first day of September 2009, at the Hazel Crest School District 152 ½ Administrative Offices located at 1910 W. 170th Street, Hazel Crest, Illinois. Dated this seventeenth day of August, 2009. Gertrude Rucker Secretary, Board of Education

4. Historical Revenues vs. Expenses

5. Year End Fund Balances FY09 FY10 (estimated) Education $5,791,000 $5,844,000 Operations/Maintenance $ 449,000 $ 699,000 Bond & Interest $ 651,000 $ 620,000 Transportation $ 515,000$ 583,000 I.M.R.F. $ 88,000$ 612,000 Working Cash $ 294,000 $ 344,000 Tort $ 593,000 $ 501,000 Fire/Safety $ 75,000 $ 75,000 _________________________________________________ Total Balance $ 8,456,000 $9,278,000

6. Fund Balances

7. 2009-2010 Budget Highlights • Revenue • Tax revenue increase approximately 4% • Investments decrease 66% • General State Aid increases due to attendance • Grant revenue increases (at the federal level) due to ARRA • funds • Expenses • The budget reflects a 16% increase in the medical insurance • The budget reflects no increase in dental coverage • Risk management expenses increased significantly • All classrooms outfitted with Smart Technology • The budget reflects General State Aid allocations to the O&M, Transportation, and IMRF/Soc. Security Funds

8. The American Recovery and Reinvestment Act of 2009: Saving and Creating Jobs and Reforming Education In a global economy where the most valuable skill you can sell is your knowledge, a good education is no longer just a pathway to opportunity— it is a pre-requisite. The countries that out-teach us today will out-compete us tomorrow.—President Barack Obama, Feb. 24, 2009

9. The American Recovery and Reinvestment Act (ARRA) con’t ARRA Principles • Spend funds quickly to save and create jobs. • Improve student achievement through school improvement and reform. • Ensure transparency, reporting and accountability. • Invest one-time ARRA funds thoughtfully to minimize the "funding cliff." ARRA GSA $741,101 ARRA Title I $345,808 ARRA IDEA Preschool $ 14,583 ARRA IDEA Flow-thru $275,916 ARRA Other Funds $247,033 TOTAL $1,624,441

10. HAZEL CREST ELEMENTARY SCHOOL DISTRICT #152 1/2 FINANCIAL SUMMARY & CURRENT BUDGET (ALL FUNDS) FYE 6/30/99 - FYE 6/30/10

11. FY10 Tentative Budget Summary Revenue estimated at $14.7 million Expenditures growing steadily at $13.8 million

12. Debt Service Issue Date Issue Amount Payoff Year May 1997 $3,735,000 2009 September 1998 $1,895,000 2011 Emergency Loan $4,528,000 2013 November 1999A $1,465,000 2016 November 1999B $ 263,240 2016 October 2002 $1,174,792 2021 $13,000,000 Total outstanding debt as of July 2010 = $7.3 million *data retrieved from YE 2008 annual audit