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District advisers flag structural deficit; board hears life‑safety bond and alternative delivery options
Summary
Financial advisers told the board that expenses have outpaced revenues and presented options including amending the Life Safety Audit, issuing a life‑safety bond with no statutory cap, and using joint‑purchase/design‑build options (Omnia Partners, Aptera, Midwest Mechanical) to control costs.
The district's financial advisor, Mr. Grossi, reviewed a nine‑year historical financial summary and told the Board that revenue growth averaged about 3.5% while expenditures grew about 4.1% over that period. He said the most recent audit showed expenditures exceeded revenues for the first time since approximately 2017, signaling an emerging structural budget challenge.
Dr. Douglas Wildes, the district's chief school business official, explained options the District is exploring to respond to facility and life‑safety needs. He said the District can amend its Life Safety Audit and, if desired, issue a Life Safety Bond in an amount equal to the needs identified in the updated audit and that the presentation noted there is no statutory cap on that bond amount. Wildes also outlined alternatives to the traditional design‑bid‑build model under Illinois law effective Jan. 1, 2024, including use of governmental joint purchasing agreements and a design‑build model via the District's membership in Omnia Partners with pre‑negotiated vendors such as Aptera and Midwest Mechanical.
Board members asked questions during the presentation and received an overview of how these delivery options could shorten timelines and improve cost predictability for projects such as HVAC and other specialized work. The presentation emphasized that while some options are new to the District, they may offer greater price certainty and potential savings compared with the traditional process.
Next steps noted in the meeting record included continued evaluation of the delivery alternatives and options to amend the Life Safety Audit; staff were expected to return with additional information and cost estimates before any bond or project commitments.
