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CUSD 300 launches public finance dashboard and highlights fund balances ahead of tax distributions
Summary
CUSD 300 unveiled a public finance dashboard built with Frontline Forecast5 to publish operating fund revenues, expenditures and fund balances; treasurer reported tax distributions due in late May will raise revenues already tracked in the new dashboard.
Jeffrey Ehart and finance staff demonstrated a newly launched public finance dashboard created with Frontline Forecast5 and said the tool will publish operating fund revenues, expenditures and fund balances monthly after financial reports are approved. Ehart and Doctor Williams said the district had roughly $158.5 million in cash on hand and a fund balance just shy of $147 million, and noted that May tax distributions from McHenry and Kane counties should cause a predictable revenue spike.
The dashboard will include quarterly snapshots, links to resources on school finance and the district’s prior meritorious budget award submissions for transparency; staff said the district will publish the dashboard updates after the corresponding financial reports are approved at board meetings. Board members praised the move as an improvement in transparency compared with typical district practice. "Most school districts don't have this level of transparency," one board member said, and staff said the tool will reduce repeated routine questions by making data easier to access.
Next steps: staff will publish the March financials on the dashboard after board approval at the May 19 board meeting and will continue to post monthly updates.
