Finance

Investing in Our Schools. Committed to Our Community.

The Sycamore Community Schools Board of Education and administration are committed to strong financial stewardship, balancing academic excellence with fiscal responsibility. We work actively within the legislative process at the state level and apply disciplined budget controls at home.

Sycamore’s residents continue to provide incredible support for our schools. In November 2016, voters approved a 6.5 mill operating levy with a Board commitment not to request additional operating funds for at least five years.

Our Commitments:

• Maintain responsible use of financial parameters to guide spending decisions

• Preserve Sycamore’s tradition of academic excellence

• Proactively invest in facility upkeep and modern technology

• Use cash reserves strategically to meet identified needs

Since 2005, the Board has used financial parameters to control expenditures and ensure long-term stability. Extended through 2021, these parameters included:

• Limiting General Operating Fund budget growth to an average of 2.5% (FY17–21)

• Capping the FY21 General Operating Fund budget at $82 million

• Maintaining a year-end General Fund cash balance of at least 25% of the operating budget

Sycamore Community Schools will continue to operate with transparency and accountability, ensuring financial decisions reflect our commitment to providing a high-quality education and strong return on the community’s investment.

Sycamore Community Schools releases a five-year forecast bi-annually to engage the Board and community in long-term planning and discussions of financial issues facing the school district. 

A forecast is akin to a painting of the future based on the current situation, but it will be adjusted over time. The further into the future the forecast extends, the more likely projections will deviate from actual experience due to various events such as state budgets, tax levies, salary increases, or changes in local businesses. The five-year forecast is a vital management tool that must be updated periodically. It helps district management teams to proactively address future financial challenges.