Sycamore School District and Board Reverse Deficit Spending and Obtain a Balanced Budget Using Forecasting Model
Sycamore School District and Board Reverse Deficit Spending and Obtain a Balanced Budget Using Forecasting Model
1 PagesTHE SITUATION Located in the rural western suburbs of Illinois, Sycamore Community School District 427 serves over 3,500 students and maintains a comprehensive educational program run by a highly qualified and balanced staff. Nicole Stuckert, CFO/CSBO at Sycamore, and Jim Dombek, District 427 Board President, discovered the district was in a situation in which state funding was declining and cash reserves were dwindling. The district was heading towards a deep deficit and needed to take corrective measures immediately to avoid a loss of funds in five years. Stuckert and Dombek were looking for a tool that could allow them to accurately project their financial position over the upcoming five years in a manner that was understandable to stakeholders. THE SOLUTION In 2013, PMA Financi
