Budget & Tax Levy: Building the 2011-2012 Budget

 September 19, 2011The Board of Education adopted the Final Budget for 2011-2012, with final figures on salaries and benefits coming in below earlier estimates due to completed contracts with New Trier’s faculty and Physical Plant Services staff. The Final Budget also reflected additional information regarding state revenues as well as corporate personal property replacement tax projections.  

August 30, 2011 – The Board of Education approved a new two-year contract with New Trier teachers during a special public meeting. The contract, which teachers also approved, applies to the 2011-2012 and 2012-2013 school years and includes base salary increases of 0.65 percent in the first year and 0.75 percent in the second year. The contract also permanently adds two instructional days to the school year, at an additional base salary cost to the District of 0.55 percent each year.   

Eligible teachers who have not yet reached the top of their career ladders would continue to receive step increases in addition to the base salary increases. The average value of step increases across all teachers is 2.3 percent in the first year and 2.2 percent in the second year. Step increases are commonly used by school districts throughout the state to recognize the experience and expertise teachers gain with each year in the classroom. The overall average cost to the District is 3.5 percent per year (base increase, including instructional day, + step increase), which represents the lowest percentage increase in New Trier teacher salaries in at least the last 20 years.   

A list detailing the changes to the previous faculty contract and the faculty salary schedule can be found in the link below. A copy of the full contract will be available by mid-September and will be posted here as well as on the main District Financial Information page.  

August 22, 2011 – The Board of Education held a public hearing on the Tentative Budget for the 2011-2012 school year and voted to delay adoption of the Final Budget until the next regular board meeting on Sept. 19, 2011. Links to the August budget presentation and the explanation for moving the final vote to September are below.

July 18, 2011 – The Board of Education approved the Tentative Budget for the 2011-2012 school year and put it on public display, including in the link below. The Board also set a Public Hearing date on the budget for August 22, 2011, during the next scheduled regular Board of Education meeting.

April 22, 2011 - The administration presented an update on its budget assumptions and parameters and indicated that the budget calendar may be pushed back by 1-2 months due to ongoing negotiations over the faculty contract. The administration also presented a list of Capital Projects for 2011-2012 and recommended Board approval of those over $50,000 so that materials and equipment could be ordered and projects completed during the summer before the 2011-2012 school year.  

March 21, 2011 - The Administration presented an update to Budget Assumptions and Parameters for the fiscal year 2012 budget.  The Administration reiterated the District’s commitment to develop a financial plan that will eliminate a small projected deficit and balance future budgets. In addition, the Administration answered a question about unfunded obligations, particularly for pension and other postemployment obligations. A detailed explanation can be found in the link below. 

January 18, 2011 - The Administration presented an update to Budget Assumptions and Parameters and an updated calendar for developing the fiscal year 2012 budget.  The assumptions were adjusted based on a number of factors, such as the recent release of the updated demographic study.  Although the current deficit for next year is projected at approximately $600,000, the Administration believes it can eliminate this deficit as the budget building process continues. 

December 13, 2010 - The Board of Education held a public hearing on Dec. 13, 2010, to explain the 2010 tax levy and state law governing the amount school districts and other taxing bodies may levy, as well as the District’s current and project Operating Fund revenues and expenditures. 
November 15, 2010 – Estimate of 2010 Proposed Levy – At the November 15, 2010 Board of Education meeting, the Administration presented information about the proposed tax levy for 2010.  The 2010 tax levy is primarily used to fund the 2011-2012 fiscal year budget.  At this Board of Education meeting, the Levy estimate was approved and a Public Hearing was set for December 13, 2010.