The Oak Park and River Forest High School District 200 Board of Education recently approved a budget for the 2024-25 fiscal year that projects a much higher than normal 7.99% increase in operating expenditures.
But when certain expenditures that are considered unique to the current year are set aside the increase in operating expenditures is reduced to a 6.11%, officials said.
The budget was approved unanimously Sept. 26. Although he voted to approve the budget School Board president Tom Cofsky expressed concern about rate of increase in spending.
“I voiced concern about the rate of the expense growth and I will continue to carry that with me until my last minute because it is really about the long term financial health of the district,” Cofsky said in thanking the administration for making some changes since the tentative budget was presented in August.
The non-recurring expenses unique to the current year include the adoption of new textbooks for math, security camera improvements, vehicle purchases and equipment replacement that amount to nearly $1.6 million. The total operating expenses for the 2024-25 fiscal year are projected to be $91,147,681, up from $84,406,761.
OPRF will continue to run an operating surplus. Revenues, which mostly come from local property taxes, are projected to be $108,469,415 while operating expenses are projected to be $91,946,691. However because of the construction spending on Project 2 — the demolition and rebuilding of the southeast portion of the school — total expenditures will be $138,707,806. That includes nearly $45,2 million in construction and maintenance costs and $2 million in payments on the debt certificates issued this year to partially finance Project 2.
The rate of the increase in spending is expected to decline in the 2025-26 fiscal year to 4.1% and then fall further to the two to three percent range in the following three years, officials said.
“Obviously a lot of that is going to depend on employee contracts, how those are renegotiated, as well as other contracts such as transportation and some of these other things that run on a two- to three-year span,” said Brian Imhoff, the district’s director of finance.
In other Project 2 developments, District 200 recently sold $42,140,00 in 20 year debt certificates to help pay for the approximately $102 million plan, which will include a new swimming pool, new third floor gym and a number of other improvements to the rebuilt southeastern portion of OPRF. The debt certificates will carry an interest rate of 3.65756%.
The remainder of the cost of Project 2 will be paid for from accumulated cash reserves and private contributions. The Imagine Foundation which was established to raise money for Project 2 has increased its goal for private contributions to $15 million from its original goal of $12.5 million. Imagine Foundation Executive Director Heidi Ruehle told the OPRF school board at its Oct. 10 meeting that the Imagine Foundation already has already raised or has commitments for more than $10 million from approximately 100 donors.
After spending the last year or more focusing on major gifts, the Imagine Foundation has begun the more public phase of its fundraising campaign.
“We are open to all forms and sizes and kinds of donations,” Ruehle said.
Donors can give through the Imagine Foundation website.
“We are prepared to accept not only cash and check and credit, but donor advised funds, gifts of stock,” Ruehle said.
At its Oct. 24 meeting the School Board is expected to accept its first donation in exchange for naming rights in a $250,000 matching grant donation from the Imagine Foundation to name the new weight room that is part of Project 2 in honor of former OPRF football and wrestling coach Gary Olson who died in 1999. Imagine Foundation founder and board president Stephen Schuler will contribute $250,000, which the Imagine Foundation will match. The naming rights to the weight room will last for 10 years. Other naming rights are available.
Bob Skolnik is a freelance reporter for Pioneer Press.
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