District 303 Banks $7.67 Million Windfall for Later

St. Charles Community Unit School District 303 leaders have decided for now to bank a nearly $7.67 million windfall representing money the state of Illinois has owed he district for about nine years.

Dr. Donald Schlomann, District 303’s superintendent, told the board of education earlier this week the money represents grant reimbursements from the state’s Capital Development Board for the district's construction of Corron Elementary School on the southeast corner of McDonald Road and Thornwood Way in South Elgin, Norton Creek Elementary School north of Smith Road in West Chicago, and for an addition to St. Charles East High School, southeast of Dunham Road and Fox Chase Boulevard.

Schlomann discussed the windfall during the superintendent’s report to the board, during which he told the board they would be asked to designate the funding for capital needs, operations, tax abatement or debt retirement purposes. Schlomann explained that he district does not have plans for using the money, and while there are existing needs, he told the board he would like to see its use set out in a plan. Specifically, he said, the district’s belt-tightening in recent years has curbed some needed facility maintenance, for example, and those needs should be considered carefully.

“There are plenty of places we could spend it on, but now is not the time,” he said.

The board supported Schlomann’s recommendation,

“It’s wonderful we are in such a wonderful fiscal position that we can put that into savings,” said school board member Corrine Pierog.

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