D204 Could Lose $30 Million of Revenue Due to COVID-19

D204 Could Lose $30 Million of Revenue Due to COVID-19

Indian Prairie School District 204 could see a potential $30 million loss of revenue over the next three years due to the COVID-19 pandemic. At last night’s board meeting, Jay Strang, District 204’s Chief School Business Official, presented an updated budget forecast to the board. The forecast predicted a loss of revenue at the local and state level over the next several years.

“Our local resources will be impacted by COVID-19 and the economy,” said Strang. “How? It’s to be determined, but this is our first blush at it and I’m telling you I really believe it’s going to change pretty regularly until we get to a draft budget in the spring time.”

In Strang’s latest budget forecast, the district will continually lose millions of dollars in revenue following fiscal year 2020, starting with a potential loss of $7,251,000 in 2021, $10,738,913 in 2022, and $12,167,497 in 2023.

To offset those losses, the district is curbing spending until they are certain of their revenue. In a difficult decision last night, school board members voted to reject several bids the would allow air conditioning units to be installed at their elementary school’s media centers.

“I really hate to do this,” said School Board Vice President Justin Karubas. “We were so close.”

Installing air conditioning in the elementary school’s media centers was the last phase of the district’s six-phase project. The decision was able to save around $3.5 million according to Strang.

The district said it is also evaluating their private contracts, healthcare plans, and other expenditures, such as staff.

“We looked at staffing and benefits immediately and decided we would not be hiring any new staff, but we would be filling existing positions,” said Strang.

The district has also suspended in-state and national travel.

Strang said the next budget forecast is likely to have more changes, due to the potential financial impact of COVID-19

Naperville News 17’s Christian Canizal reports.

 

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