The Oswego SD308 Board of Education will consider approving a resolution on Monday night to again ask voters to decide on a tax referendum during the 2020 election cycle.
According to board documents, the school board will again discuss and will vote on the item, which would be placed on the March 17th, 2020 primary ballot.
Documents indicate if the referendum for a $0.30 tax rate increase is approved in March 2020, the district projects a balanced budget and an increase in the fund balance over the next several years.
At its September 23rd meeting, the board adopted what officials said was a surplus budget for Fiscal Year 2020, following four years of reductions. However, the projected surplus represents less than 1% of the district's operating expenses and officials say does little to increase fund balances, which is why the district will again ask voters for the sales tax increase.
Previously, the county-wide one cent sales tax was defeated overall in Oswego 308 precincts and in Kendall County, and last April, Oswego voters rejected a 30 cents increase.
In an October presentation, the board learned that a successful referendum may likely stop the sale of bonds and the issuance of tax anticipation warrants. Over time, the board would be able to build reserves to a safer level.
One major area of the board’s concern is adding more debt for facility maintenance, including structural and equipment repairs and replacement of aging infrastructure.
Just last week, a number of citizens spoke in favor of another referendum try at a school board public forum.
The referendum needs to be on file with county clerks by December 27th, if it is approved by the board on Monday.