The Minooka Community High School District 111 Board of Education was briefed on the impact of COVID-19 to the fiscal year 2020 budget during its meeting on Wednesday. Assistant Superintendent of Business and General Counsel John Troy said the numbers reveal there is no impact to the budget so far.
“The revenues and expenses are on track and on budget,” he said.
Troy said the revenues for the final two months of the school district’s fiscal year 2020 budget will likely be less. Officials with Grundy, Kendall and Will counties, which fall within the boundaries of the school district, are considering waiving the penalties on the first installment of property taxes, which are due in June. Troy said the impact to the school district would be short term, if payments arrive later rather than sooner.
“Fortunately, we do have adequate resources and fund balances to carry us through that time,” he said.
Also at the meeting, the school board took time to review the idea of the city of Joliet establishing the Rock Run Crossings Tax Increment Financing District. A TIF District is a tool used by municipalities in accordance to state statue to spur redevelopment activity in a defined area.
The school district finds there are several shortcomings in the proposed Rock Run Crossings TIF District, according to school board documents. Troy has notified the city of its intent to vote no on the proposal as presented. The school district intends to take steps to attend additional meetings with the city with the intention of negotiating a better deal. Troy said he will provide more information to the school board as it becomes available.