Monthly review of Year to Date Revenue and Expenditures

Amy will provide an update on the Business Office's plan to transition to a Modified Accrual Basis of Accounting.

The EBC Board of Directors held their renewal meeting on March 17th. Districts were given the opportunity to attend virtually to discuss the final renewal projections and rates for the upcoming plan year. The rate sheet and overview have been attached for your review.

Following a conversation with our Workers' Compensation Insurance Broker on Thursday, the District would like to proceed with a renewal of coverage with its current provider (ICRMT) at no additional increase for the coming year. Annual projected premium for 2022-23 is $74,414.

The proposed NSSEO Budget for FY23 has been attached for discussion.  Member districts have participated in several Finance Committee meetings to discuss proposed increases in tuition and services based on actual usage.

A three-year bid for Snow Removal Services was awarded to Milieu Landscaping (Wheeling, IL) in 2019. The bid required vendors to submit flat rates for varying snow removal accumulations.  Snow removal services begin with 1" of accumulation and are completed no later than 6:00 a.m. Parking lots are to be treated after each plowing. The approximate annual cost of these services was $36,000. 

The District reserved the right to extend the contract for a fourth and fifth year at a mutually agreed cost.  The District has negotiated a one-year extension at no additional increase.  With the Committee's approval, action will be requested at the April Board meeting.

Bids were solicited for the removal of the existing whiteboards, chalkboards and tack boards, restoration of the base wall and repainting in preparation for the new whiteboards and projectors in all classrooms at both Betsy Ross & Anne Sullivan Schools.

Following a review of the base project and the alternate options, Capital Painting and Decorating, Inc. is being recommended to the Board for approval in the amount of $27,810.00.

In accordance with the ongoing Projector Replacement Project, work will continue this summer at Betsy Ross and Anne Sullivan Schools.  Bids were solicited for the purchase and installation of Claridge whiteboards as a part of this project. 

Following Committee approval, the Recommendation will be made to the Board to accept the bid from Interior Investments, LLC in the amount of $57,189.19

Bids were solicited for the 2022 Seal Coating, Striping, Crack Filling and Concrete Services throughout the District. Following Committee approval, the recommendation to award the bid in the amount of $41,189.89 to Patriot Pavement Services (DesPlaines, IL) will be made to the Board.

Bids were received and opened on Thursday (3/31/22) afternoon. Arcon is currently in the process of evaluating all submittals to make a recommendation to the Board at the April Board meeting.  I anticipate having a plan to share with the Finance Committee on Monday.

The purpose of the Joint Committee for Purposes of Construction Work Oversight is to oversee the authorization of construction payments required by the submission of a change order submitted by the architect, construction manager or any general contractor in order to secure the public trust in the integrity and credibility of the construction process.  We would like to form this committee for the start of the 2022 Construction Season and will need one volunteer from the Finance Committee.

Amy will bring the Committee up to speed on plans to utilize the non-discretionary furniture allocations this summer.  As we are seeing increasing costs and significant lead times, product proposals will be shared with the Committee on Monday, as they are still being finalized with the vendor.

Amy will share information with the Committee regarding a potential for delayed revenues coming during the 2023 fiscal year.  While there is no immediate cause for concern, she will bring the Committee up to date and steps the District is taking to monitor the situation.