Glenview District 34 board approves short-term tax warrants, appoints interim business officer

The Glenview CCSD 34 Board of Education on Tuesday approved a set of financial measures to cover near-term cash needs, including a transfer from the district's working-cash fund to the operations-and-maintenance fund and authorization to issue not-to-exceed $4,019,000 in tax anticipation warrants.

The board also approved a resignation agreement for an employee and unanimously approved a temporary contract for Dr. Michael Zelik to serve as interim assistant superintendent for business services for up to 120 days; the board then designated him treasurer of District 34.

The measures were presented as short-term steps to bridge a delay in county tax collections. Board members and district staff said Cook County’s slow processing of assessments and tax extensions has postponed anticipated tax receipts; the district has a bond and interest payment due Dec. 1 that staff said will require cash management until taxes arrive. The tax anticipation warrants are intended to be repaid immediately upon receipt of tax revenues.

Dr. Michael Zelik, who led the district's levy and budget presentation, said the district's operating funds currently show roughly a $1.7 million deficit at a high level. He told the board the district's fund-balance ratio is about 41 percent and "it's starting to go downhill," recommending measures to avoid further erosion.

Zelik described a proposed levy strategy that would aim to capture new construction growth and make limited increases across funds. He said the district is modeling a levy request that captures new property and estimates a consumer-price-index allowance of about 3.4 percent; the combined result would be roughly a 4.9 percent overall increase in the district's tax extension in the scenario presented.

Board members approved the working-cash transfer resolution and the tax-anticipation-warrant resolution by roll call. The board also approved the interim contract placing Dr. Zelik in the business office for up to 120 days and adopted a resolution to appoint him district treasurer.

Votes at a glance - Consent agenda (personnel report, payroll warrants, vendor warrants, renewal of facility-use contract for on-site counseling): approved by roll call (unanimous). Referenced as resolutions 20566'–20569; details in district files. - Resignation agreement for Eric Miller (resolution 25070): moved by Kemalovich, seconded by Pritzker; roll-call vote all ayes; outcome: approved. - Interim assistant superintendent for business services contract (resolution 25071): moved by Giulio, seconded by Dolan; roll-call vote all ayes; outcome: approved. Contract term: temporary, not to exceed 120 days. - Appointment of interim CSBO as treasurer (resolution number not specified in transcript): motion moved by Pritzker; roll-call vote all ayes; outcome: approved. - Resolution directing transfer from working cash fund to operations and maintenance (resolution 25073): moved by Kamalovich, seconded by Moon; roll-call vote all ayes; outcome: approved. - Resolution authorizing issuance of tax anticipation warrants in an amount not to exceed $4,019,000 (resolution 25074): moved by Dolan, seconded by Giulio; roll-call vote all ayes; outcome: approved.

What the board recorded District staff said the warrants would likely be issued in November and repaid promptly when tax receipts arrive. The district's financial advisers (PMA and Raymond James, referenced in the presentation) provided modeling that included assumptions about CPI, new-construction growth and collection rates; staff noted the county remains delayed in providing typically available assessment data.

Next steps District staff will publish timelines for the tax-anticipation-warrant sale and proceed with the levy-adoption calendar: intent to levy in November, public hearing to be established, and final levy approval in December. The board approved the resolutions to provide the district flexibility if tax receipts remain delayed.