Illinois finances – Baymont Champaign http://baymontchampaign.com/ Mon, 03 May 2021 07:48:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://baymontchampaign.com/wp-content/uploads/2021/04/cropped-icon-32x32.png Illinois finances – Baymont Champaign http://baymontchampaign.com/ 32 32 The financial ranking of the districts climbs a little https://baymontchampaign.com/the-financial-ranking-of-the-districts-climbs-a-little/ https://baymontchampaign.com/the-financial-ranking-of-the-districts-climbs-a-little/#respond Sat, 01 May 2021 23:21:02 +0000 https://baymontchampaign.com/the-financial-ranking-of-the-districts-climbs-a-little/ Many school districts in the area have improved financially since last year, but many still have work to do before they are considered stable. The districts of Griggsville-Perry, Brown County, Franklin and Pleasant Hill all showed improvement in their financial categories. “It’s something we’ve been winning over the last few years,” said Kent Hawley, principal […]]]>


Many school districts in the area have improved financially since last year, but many still have work to do before they are considered stable.

The districts of Griggsville-Perry, Brown County, Franklin and Pleasant Hill all showed improvement in their financial categories.

“It’s something we’ve been winning over the last few years,” said Kent Hawley, principal of Griggsville-Perry schools. “The board has been financially responsible and raising that rating has been a goal for them.”

Griggsville-Perry moved from the early warning category to the review category.

The Illinois State Board of Education publishes an annual financial report for each district, ranking it by financial stability as a recognition district – highest ranking – examining district, early warning district, or surveillance district.

Rankings are based on a district’s fund-to-revenue ratio, expense-to-revenue ratio, cash days, percentage of short-term borrowing capacity remaining, and percentage of long-term borrowing capacity. remaining.

“We have been working on paying off our obligations,” Hawley said. “We had four or five bonds and we’re down to two.”

Decreasing debt has been a big factor in increasing Griggsville-Perry’s financial stability, Hawley said. One of the two remaining bonds will be repaid in three years and the other in four, he said, noting that the repayment of those bonds will also have an impact on the financial stability ranking of the district.

Another thing that has helped Griggsville-Perry is the increase in state payments through the Evidence-Based Funding Formula, which has allowed them to pay their bills and maintain a balanced budget.

“Evidence-based funding has helped the state pay its bills,” Hawley said.

The Pleasant Hill School District has also improved its ranking, but remains in a lower category after moving from surveillance to early warning.

Superintendent Ron Edwards said district finances are a work in progress.

“We are making progress,” Edwards said. “Early warning isn’t great, but it’s better than watching.”

The district has struggled with cuts in state funding for years on a pro rata basis, he said. The district was receiving about $ 1.2 million per year, but that amount was reduced to about $ 830,000 per year, he said.

With the recent funding increases resulting from the new evidence-based formula, the district has been able to make progress, said Edwards.

He is now focused on keeping a balanced budget and trying to find savings where he can, he said.

“We have determined what the wants are and what the needs are,” Edwards said. “There are certain things that we must have; you can’t stop driving buses. ”

The Virginia School District has not changed categories and remains in the exam category.

All other districts in the region were in the highest category, highest recognition, and showed no movement from the last school year.



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Millennial millionaire seeks to teach downtown youth financial literacy he calls the secret https://baymontchampaign.com/millennial-millionaire-seeks-to-teach-downtown-youth-financial-literacy-he-calls-the-secret/ https://baymontchampaign.com/millennial-millionaire-seeks-to-teach-downtown-youth-financial-literacy-he-calls-the-secret/#respond Fri, 30 Apr 2021 02:03:39 +0000 https://baymontchampaign.com/millennial-millionaire-seeks-to-teach-downtown-youth-financial-literacy-he-calls-the-secret/ Jeff Badu is 28, a licensed CPA and a millionaire. He reached the latter at age 25, despite having zero financial literacy education growing up. If he had heard about money at a younger age, he thinks it wouldn’t have taken him that long. So now Millennial, a Uptown resident and founder and CEO of […]]]>


Jeff Badu is 28, a licensed CPA and a millionaire.

He reached the latter at age 25, despite having zero financial literacy education growing up.

If he had heard about money at a younger age, he thinks it wouldn’t have taken him that long.

So now Millennial, a Uptown resident and founder and CEO of Badu Enterprises, LLC, a multinational corporation with a successful real estate arm – which started with the purchase of one unit in 2017 and now owns 118 units – wants helping young people like him achieve the same.

His year Badu Foundation accepts downtown applicants ages 6-18 for four-week financial literacy programs along with a $ 500 college scholarship.

“My family has always been entrepreneurs, mathematicians. We just have a love for business, ”said Badu, who attended McCutcheon Elementary and Uplift Community High School in Chicago Public Schools, where he enrolled in 2010 with an honorary GPA of 4.23.

The Ghanaian immigrant, whose parents emigrated to Chicago with their three children at the age of eight, went on to earn his bachelor’s and master’s degrees in accounting from the University of Illinois at Urbana-Champaign in 2014 and 2015. .

“To make a long story short, when I was younger I unfortunately surrounded myself with the wrong audience, which ultimately could have caused me some really big problems,” said Badu.

“I had no one to teach me about money and finances and to prepare me to live the best abundant life possible. With all the violence in Chicago with our young people, I guarantee you that if they had more financial education and empowerment, they could avoid trouble. They just want to support themselves and get out of poverty. “

Badu Investments, LLC, recently purchased this 39-unit 76th Street & amp;  South Shore Drive in the South Shore neighborhood.

Badu Investments, LLC, recently purchased this 39-unit apartment building at 76th Street & South Shore Drive in the South Shore neighborhood.
Provided

Her father is a real estate developer in Ghana, her mother a nurse. He is the only boy and child in the middle, with two sisters. Growing up in Uptown, it was at age 16, when he was down the wrong path, that his parents took him to visit their home country.

This visit and the poverty he witnessed changed his life. He came back determined not to waste his opportunities and, more importantly, to be able to help someday.

“To be honest, it was God. This trip really opened my eyes and allowed me to see the light and see my purpose in life, ”said the soft-spoken young man.

“I’ve seen people struggle. I wanted to be part of the solution, not the problem. I wanted to find resources to help people come out of this scarcity and live abundantly. It was a profound moment for me. From that point on, I worked 10 times harder and educated myself. “

In high school, he had been a part of the football team, group, and After School Matters programs.

In college, he was vice president of the school’s National Association of Black Accountants section and spent the summer of his junior and senior years interning at PricewaterhouseCoopers in Chicago, which hired him. after graduation.

Through his one-year-old Badu Foundation, 28-year-old millionaire Jeff Badu seeks to teach underprivileged Chicago youth the value of saving, budgeting, investing and starting a business. university savings accounts started with $ 500 scholarships from the foundation.  “I wish I had known some of these things a lot younger,” he says.

Through his one-year-old Badu Foundation, 28-year-old millionaire Jeff Badu seeks to teach underprivileged Chicago youth the value of saving, budgeting, investing and starting a business. university savings accounts started with $ 500 scholarships from the foundation. “I wish I had known some of these things a lot younger,” he says.
Provided

But Badu would only stay for a year. He had started his tax preparation business at the age of 18 and by the time he left PwC had built up a client base of 100 people, family and friends.

Badu Tax Services, LLC, was launched in September 2016; Badu Investments, LLC, in April 2017, and the 501c3 foundation in April 2020. During a pandemic, its inaugural program attracted only three students. The foundation has set a goal of serving 30 students this year.

Badu and his team teach young people the value of saving, budgeting, investing, and starting college savings accounts that are started with the foundation’s $ 500 scholarship.

“So we basically teach them the importance of applying for scholarships, provide them with resources to find and apply for scholarships, and then give them the first $ 500. Our students will be able to reapply each year, and each program they complete will earn an additional $ 500. When they enroll in college, all of these funds will go towards tuition, ”Badu said.

“I want to help our young people think differently. We only allow students residing in low income Chicago communities to apply. I wish I had known some of these things a lot younger, because I could have had more of a head start in life.



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Chicago city councilor linked to Daleys indicted for tax evasion https://baymontchampaign.com/chicago-city-councilor-linked-to-daleys-indicted-for-tax-evasion/ https://baymontchampaign.com/chicago-city-councilor-linked-to-daleys-indicted-for-tax-evasion/#respond Thu, 29 Apr 2021 23:17:04 +0000 https://baymontchampaign.com/chicago-city-councilor-linked-to-daleys-indicted-for-tax-evasion/ Chicago Ald. Patrick Daley Thompson, linked to the two Daleys mayors, faces federal charges that he filed false income tax returns and lied about $ 219,000 in payments from a neighborhood bank. More than 30 Chicago aldermen have been convicted or charged with corruption. The grandson of former Chicago Mayor Richard J. Daley and nephew […]]]>


Chicago Ald. Patrick Daley Thompson, linked to the two Daleys mayors, faces federal charges that he filed false income tax returns and lied about $ 219,000 in payments from a neighborhood bank. More than 30 Chicago aldermen have been convicted or charged with corruption.

The grandson of former Chicago Mayor Richard J. Daley and nephew of former Mayor Richard M. Daley was billed on April 29 for lying to federal bank regulators and for filing false income tax returns related to the $ 219,000 he received from a bank in his family’s neighborhood.

The indictment of seven counts against Chicago Ald. Patrick Daley Thompson, 11th arrondissement, stems from the disappearance of a bank in the family neighborhood of Bridgeport. Thompson, 51, owns his old grandfather house in the neighborhood and bears a strong resemblance to his grandfather.

The charges indicate that the money came from loans and other payments between 2011 and 2014 from the Washington Federal Bank for Savings, which was deemed insolvent and closed in 2017. There was a loan of $ 110,000, on which Thompson made one payment, then stopped, then two more payments that were never placed in the books of the bank or recorded as loans, charges state.

The five tax charges indicate that Thompson falsely claimed deductions for the interest he claimed to pay on bank loans. Two counts claim he lied to the FDIC in 2018 about loan repayments.

The bank had $ 66 million in bad debts when it went bankrupt.

His lawyer could not be reached by the Chicago Tribune. An indictment date had not been set.

Also on April 29, a federal grand jury indicted former Chicago Ald. Ricardo Munoz with fraud for using campaign funds for personal expenses. According to the charges, he spent funds on jewelry, clothing, cell phones, vacations, sports tickets, plane tickets and a relative’s school fees.

Chicago Ald. Ed Burke faces a 14-count bribery charge related to the property tax management by calling clients to his law firm in exchange for his interference in city affairs. Burke is a cigar-nibbler city councilor with a taste for pinstripe suits who served on city council for more than 50 years but lost power over the city’s finances following the election of Mayor Lori Lightfoot .

The Burke investigation revealed Ald. Danny solis has a postponement agreement with the US prosecutor and is cooperating with federal investigators.

More than 30 Chicago aldermen have been linked to corruption cases since the 1970s.

Chicago has been classified as the nation most corrupt city and Illinois is the second most corrupt State. This corruption comes at a cost: $ 550 million per year in lost economic opportunities.

State lawmakers have the opportunity to fight Illinois’ culture of corruption, at least at the Statehouse, by passing a group of ethical reforms. These include empowering the watchdog charged with holding lawmakers accountable for wrongdoing, improving transparency by improving financial disclosures by lawmakers, banning members of the General Assembly from working as lobbyists with executive agencies and local governments, and by requiring a cooling-off period before lawmakers can become lobbyists in the General Assembly after leaving office.



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Controller: Illinois’ Backlog of $ 16.7 Billion Now Manageable at $ 3.5 Billion | Government and Politics https://baymontchampaign.com/controller-illinois-backlog-of-16-7-billion-now-manageable-at-3-5-billion-government-and-politics/ https://baymontchampaign.com/controller-illinois-backlog-of-16-7-billion-now-manageable-at-3-5-billion-government-and-politics/#respond Thu, 29 Apr 2021 22:37:48 +0000 https://baymontchampaign.com/controller-illinois-backlog-of-16-7-billion-now-manageable-at-3-5-billion-government-and-politics/ According to the Comptroller’s Office, a backlog of bills of $ 3 billion on a state budget of $ 42 billion is acceptable debt in the private sector over a 30-day period. “I helped win business for the state of Illinois versus other states that offered a larger set of tax credits because we do […]]]>


According to the Comptroller’s Office, a backlog of bills of $ 3 billion on a state budget of $ 42 billion is acceptable debt in the private sector over a 30-day period.

“I helped win business for the state of Illinois versus other states that offered a larger set of tax credits because we do things in Illinois than other states don’t, ”Governor JB Pritzker said Wednesday, pointing to the state’s workforce. and the emphasis on clean energy.


“(This) achievement is the result of diligent day-to-day management of government cash flows by my office, supported by government agencies who now provide monthly updates on invoice counts and penalties. late interest interest they hold in their offices, ”Mendoza said. .

The Debt Transparency Act came into effect in January 2018, requiring state agencies to submit monthly debt reports to reduce surprises about new bills for the comptroller’s office.

Schuster said Illinois was able to pay off its bills largely thanks to $ 6 billion in bonds sold at the end of 2017. Now federal aid has been able to help the state short term as the state seeks to pay its bills for the end of the year. the fiscal year.

“We haven’t come out of the woods, there hasn’t been an underlying improvement in the state’s fiscal position,” Schuster said.

Mendoza also warns that navigation is not yet smooth for the state. The current backlog of bills does not reflect the additional $ 3.6 billion the state borrowed from the Federal Reserve to fight the COVID-19 pandemic last spring.

“I’ll say it as often as necessary: ​​Illinois needs to develop a balanced state budget for fiscal year 2022 without relying on one-off federal financial assistance the state has received,” she said. “Responsible budgeting is leading the fate of the backlog as we continue to make progress in our finances and show taxpayers and credit rating agencies that we are serious about restoring financial stability to Illinois.”



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Spotlight on Top Advisors: Christina Collins, Northwestern Mutual https://baymontchampaign.com/spotlight-on-top-advisors-christina-collins-northwestern-mutual/ https://baymontchampaign.com/spotlight-on-top-advisors-christina-collins-northwestern-mutual/#respond Thu, 29 Apr 2021 19:01:40 +0000 https://baymontchampaign.com/spotlight-on-top-advisors-christina-collins-northwestern-mutual/ Christina Collins, Financial Representative, Northwestern Mutual North-West Mutual Christina Collins is a financial representative at Northwestern Mutual NWE . His Chicago, Illinois-based team manages $ 898 million in retained assets. She was named Top Woman Advisor this year. Collins, 53, first became interested in the financial services profession when running a local meal program for […]]]>


Christina Collins is a financial representative at Northwestern Mutual

NWE
. His Chicago, Illinois-based team manages $ 898 million in retained assets. She was named Top Woman Advisor this year.

Collins, 53, first became interested in the financial services profession when running a local meal program for seniors. This experience gave him a better understanding of the financial situation of those who qualified. She realized that these people could use help managing their finances and returned to college to study economics before embarking on wealth management.

Working for a company focused on insurance:

Working for Northwestern Mutual means that many clients have a relationship with the company which also involves insurance. Collins says it added to his practice because discussing insurance creates a deep connection.

From the start of her career, Ms. Collins has focused on retirement planning, paying particular attention to “helping people make the transition to retirement and helping people succeed in retirement,” says it. “In particular, it means creating income strategies that help them have reliable, predictable, and as tax-efficient income as possible, so they can enjoy initial retirement without having to worry about what happens. will pass at the end. “

She says the five years to retirement are crucial, which is when she looks to develop a comprehensive plan that determines where, when and how income will be available.

“Statistically, the time when the risk is highest is the five years before and five years after retirement,” she adds. “And the effects of what happens during that time are magnified and can be very significant.”

His Chicago-based company:

Despite being licensed in nearly 40 states and practicing nationwide, Collins says most of her clientele lived in Chicago at one point, “that’s often the initial connection.”

Collins says lawyers and financial professionals are overrepresented in his business book as they are in Windy City. While it may seem counterintuitive for the latter group to need a counselor, their planning-oriented approach may be complementary to their own expertise. She also has unparalleled representation of clients in architecture and education as well as a special “self-made women” group.

With clients spread across the country, Collins has had the unique advantage of being married to a pilot. The couple own a plane that they use to visit clients and spend a short vacation from those visits to different corners of the country.

Being a woman in financial services:

Collins saw changes in women in the industry she started in 1993. Initially, she didn’t feel accepted, a problem that was less pronounced among clients than with “the broader attitudes of the business.” industry”.

Among clients, the problem was most evident when she was pregnant and had to “tactfully reassure” that she would return to work afterwards despite the stigma.

“Despite the challenges presented to me, I think this is a great career for women,” she adds. “I hope that as an industry we can continue to figure out how to make this a more attractive career choice for young women earlier, and get women more involved at the gate.”

Collins points out that for many married clients, the woman is statistically likely to be younger and live longer.

“It’s a very important perspective on financial security to bring to the relationship,” Collins says. “One more reason why we need more women.”



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Darien School Group fights for money https://baymontchampaign.com/darien-school-group-fights-for-money/ https://baymontchampaign.com/darien-school-group-fights-for-money/#respond Thu, 29 Apr 2021 16:56:08 +0000 https://baymontchampaign.com/darien-school-group-fights-for-money/ DARIEN, IL – Students in the group at Eisenhower Junior High in Darien had planned to take a trip to Atlanta last year, but authorities canceled it due to the pandemic. Prior to the cancellation, the school and its group boosters had paid the tour operator $ 17,400. This money has not been returned. The […]]]>


DARIEN, IL – Students in the group at Eisenhower Junior High in Darien had planned to take a trip to Atlanta last year, but authorities canceled it due to the pandemic.

Prior to the cancellation, the school and its group boosters had paid the tour operator $ 17,400. This money has not been returned. The trip was scheduled for April 2020.

The travel company, Lisle-based Vanguard Tours, said it would refund much of the money when suppliers returned the amounts the company had already paid.

In an email to Patch last week, Eisenhower principal Jacob Buck said the school didn’t know how much money it was going to get back.

“The district will continue to work with the Band Boosters and the vendor to come to a fair resolution,” Buck said. “The district is committed to creating the best experience for our students involved in the group and to working with Group Boosters to ensure that any loss of money does not affect the lineup, offers or opportunities put up. available to students. “

Recently, Patch filed a request in the Darien School District 61 public records for documents related to the efforts to recover the money. The district provided a number of records.

In a July 7 email, Eisenhower group director Danny Tedeschi asked Vanguard Tours about the state of the money. He said he knew things were on hold due to the closure of businesses and cities, but believed he would hold hands again as many places reopened.

“I know the last time we met you said refunds would be given because of something beyond our control,” Tedeschi said. “I told my principal and the school has already made progress in reimbursing family expenses because of it.”

In a response two days later, Bob Reich, owner of Vanguard Tours, said he was trying to get money he had already paid to contractors in Atlanta.

“Atlanta has been a mess. First, most places (museums, aquarium, etc.) remain closed and their group divisions were not functioning, then all the unrest and protests have helped nothing to return to some semblance of normalcy. ! ” he said.

Tedeschi contacted a few weeks later to again request the status of the money.

Reich replied that the pandemic had severely affected tourism activities, which had no income. Some large companies, he said, have closed or filed for bankruptcy. He described Vanguard, which specializes in school trips, as struggling.

In other cases, Reich said, Vanguard was able to reimburse customers 60-70%. But he said the company’s operating costs could not be recovered.

“Eisenhower is in a separate situation,” he said. “Less than 35 percent of the cost of the tour had been paid to Vanguard prior to the cancellation. It will take some time to resolve this issue.”

In a subsequent email, Band Boosters member Karen McPherson thanked Tedeschi for his “persistence” in contacting Vanguard. But she said she was worried and suggested possible legal action.

“I know this is a hardship for all small businesses, but our organization cannot take another blow to our finances,” she said. “The fact that we paid only 35% of our total cost compared to other organizations paying a larger (percentage) of their travel is irrelevant to our organization. If Vanguard is creditworthy, they should pay us back immediately.

In a recent interview, Reich told Patch he was working with vendors to get the money paid before the pandemic.

“It was very difficult for travel, especially student travel,” said Reich. “We are not seen as an essential entity. We have not been able to secure outside help with the government.”

He said that as a former group director he would do whatever he could to make sure that money was returned that did not belong to Vanguard.

“We are a business and we have to stay solvent. We have costs,” Reich said.



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COVID tax extensions put St. Clair County schools under scrutiny https://baymontchampaign.com/covid-tax-extensions-put-st-clair-county-schools-under-scrutiny/ https://baymontchampaign.com/covid-tax-extensions-put-st-clair-county-schools-under-scrutiny/#respond Thu, 29 Apr 2021 10:00:00 +0000 https://baymontchampaign.com/covid-tax-extensions-put-st-clair-county-schools-under-scrutiny/ Three of the six Illinois school districts to receive the lowest designation for their state financial profiles this year are in St. Clair County. Delays in receiving property tax payments due to the COVID-19 pandemic explain the low rating, superintendents say. Lebanon’s School District 9, School District 90 O’Fallon Consolidated, and Whiteside School District 115 […]]]>

Three of the six Illinois school districts to receive the lowest designation for their state financial profiles this year are in St. Clair County.

Delays in receiving property tax payments due to the COVID-19 pandemic explain the low rating, superintendents say.

Lebanon’s School District 9, School District 90 O’Fallon Consolidated, and Whiteside School District 115 were designated as “financial oversight” in 2021. Financial oversight is the lowest of the four designations for the school district’s financial profile. .

Last summer, St. Clair County pushed back its property tax collection schedule by one month to provide financial assistance to those struggling with COVID-19. The bulk of property taxes go to public schools.

Whiteside Superintendent Mark Heuring said the district needs to take out a line of credit for short-term funding in order to “bridge the gap.”

“It was an unfortunate moment,” he said.

Last year, Whiteside received the second highest designation, “financial review”, as did O’Fallon 90. Lebanon 9 was designated “early warning,” a level above financial oversight.

Between 15% and 20% of Lebanon 9’s budgeted money arrived three months later than expected, Superintendent Patrick Keeney said. The district made up the difference with a loan from its working capital and local loans.

“We literally borrowed the money for 30 to 45 days before we paid it back,” he said.

Superintendent O’Fallon 90, Carrie Hruby, said in an email that her district was also affected by the delay.

Of the 27 school districts in St. Clair County, 11 saw their designation drop by at least one level between 2019 and 2020. Three increased their rankings: Grant Consolidated Community School District 110, New Athens Community Unit School District 60 and O’Fallon Township School District 203.

This trend was unusual compared to other counties in Illinois, most of which have seen school districts maintain or improve their financial designations.

The three school districts that are not in St. Clair County on the Financial Watch List are Calhoun Community Unit School District 40, Tri Point Community Unit School District, and School District 34 of the North Mac Community Unit.

Most counties in Illinois were eligible to grant residents an extension of their property taxes under public law, including Livingston County, where Tri Point CUSD is located.

For comparison, Madison County has granted a two-month extension to allow residents to pay their first property tax deposit, and is one of only two counties in Illinois to divide property taxes into four installments instead of two.

St. Clair County collected almost 99% of its property taxes in 2020 and even increased its rate slightly from the previous year. Although the districts experienced delays in some funding, they were eventually paid close to the total amount collected.

“We had one of our best collections in recent memory,” said Andrew Lopinot, St. Clair County Treasurer. “Typically, we could see around 5,000 properties going for tax sale, and it was closer to less than 4,000 properties in our tax sales. We had a high collection rate this year. ”

Lopinot said a handful of other county treasurers had offered tax extensions or delays, but not all.

School districts received federal funds to help with the transition to distance learning in the fall, but many districts needed the funds to purchase devices like Chromebooks and Wi-Fi hotspots. for students.

The School District Financial Profile aims to monitor school district finances and identify those who are heading into financial difficulty.

The government uses five indicators: the ratio of fund balance to revenue, expenditure to revenue ratio, cash days, percentage of short-term borrowing capacity remaining and percentage of long-term debt margin remaining. .

School districts put under financial supervision are more closely monitored by the Illinois State Board of Education and will be reviewed to determine if they meet the criteria to qualify for a state-appointed financial oversight committee, such as the one implemented in East St. Louis School District 189.

This story was updated at 12:20 p.m. on Thursday April 29 to include information from O’Fallon 90.

Help us cover your community through BND’s partnership with Report For America. Contribute now to help fund reporting on East St. Louis and surrounding communities and education in the Metro East region, and to support new reporters.

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District 87 relies on COVID relief grants to reduce deficit https://baymontchampaign.com/district-87-relies-on-covid-relief-grants-to-reduce-deficit/ https://baymontchampaign.com/district-87-relies-on-covid-relief-grants-to-reduce-deficit/#respond Thu, 29 Apr 2021 02:42:46 +0000 https://baymontchampaign.com/district-87-relies-on-covid-relief-grants-to-reduce-deficit/ District 87’s finance chief told the school board on Wednesday that while the district projects a structural deficit of nearly $ 3 million in its current budget, he hopes reimbursement for COVID relief will arrive in time to reduce that amount to less than $ 1 million. At the start of the school year, it […]]]>


District 87’s finance chief told the school board on Wednesday that while the district projects a structural deficit of nearly $ 3 million in its current budget, he hopes reimbursement for COVID relief will arrive in time to reduce that amount to less than $ 1 million.

At the start of the school year, it was unclear what kind of negative impact the pandemic crisis would have on the finances of the district. In recent years, District 87 has recorded surpluses, Colin Manahan said.

The district has requested about $ 2 million in federal reimbursements for COVID relief – $ 1.3 million to cover food service personnel and about $ 700,000 to cover personal protective equipment. If these grants arrive before July, it will mean that the district budget will see the deficit lower by $ 1 million.

While that number remains high, it is far better than district leaders expected, Manahan said.

Also at Wednesday’s meeting, the board approved a minor funding adjustment to this year’s budget. Manahan said the budget of about $ 75 million will not change overall. This decision adds $ 100,000 to a pension fund, taking that amount from a fire prevention fund.

The board adopted the fiscal year 21 budget on September 23. The board should adopt the amended version, following a hearing on June 9.

Manahan said adjustments were needed every year, given the nine-month gap between the adoption of the budget and the final tally. But he said this year has been complicated by the pandemic.

“In the tough times we’re going through, I think it’s pretty good that we don’t have to make any major changes,” he told the board.

The finance chief also told the board he expects tuition fees to remain stable for next year. One unknown, however, is the cost of meals. The district will not be able to determine this until the federal government releases its calculations, he said. Manahan said he would be surprised if they increased, however, given the continuing economic difficulties surrounding the pandemic.

Finalized graduation plan

Plans are in place for Bloomington High School to hold an outdoor graduation ceremony, District 87 Superintendent Barry Reilly told the council.

If bad weather interferes, the school will hold a drive-through ceremony like it did last year, he added. Either way, the celebration will take place at 3 p.m. on May 30. The Grossinger Motors Arena is not available as it is used for the McLean County Department of Health COVID-19 vaccination clinics.

Fitzgerald, others seated

Also at Wednesday’s meeting, the board seated new member Samedy Fitzgerald and those re-elected to a second term in the April 6 election: Elizabeth Fox Anvick, Brigette Gibson and Chuck Irwin. The four terms run until 2025. Fitzgerald replaces Kiasha Henry, who was appointed in 2019 but did not stand for election this spring.

The seven-member board of directors also includes James Almeda, Tammy Houtzel and Mark Wylie.

Members elected Wylie Chairman of the Board and Fox Anvick Vice Chairman. They appointed Wilma Gleason secretary of the board and Manahan, treasurer of the board. These positions generally last one year. However, with Manahan’s retirement in June, the board also voted on Wednesday that his successor would be board treasurer from July.

New CFO and Facilities Manager Michael Cornale begins his three-year contract on July 1, with an annual salary of $ 120,000. He comes to Bloomington via the Gardner School District in Grundy County. Reilly said Cornale had studied facilities management, so it would be a great fit for the dual responsibility of managing the finances and buildings in the neighborhood. He also heads finance and facilities in the Gardner district.

Manahan worked for almost 25 years in District 87. His departure will be followed a year later by Reilly’s retirement in 2022.

COVID vaccination clinic

After the meeting, Reilly said about 75 students, parents, teachers and staff signed up for a COVID vaccination clinic at Bloomington High School on Thursday. Students aged 16 and over are eligible for the vaccine. But those under 18 need parental permission, he said.

Wednesday’s board meeting was held at the District Education Services Center, 300 E. Monroe Street, Bloomington. The next council meeting will be on May 12th.

Community support is the largest source of funding for the WGLT. Thanks to donations from listeners and readers, local news is accessible to all as a public service. Join the village that feeds the public media with your contribution.

Copyright 2021 WGLT. To learn more, visit WGLT.



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Vidette looks to the future of journalism with redesign of the Learning Lab – News https://baymontchampaign.com/vidette-looks-to-the-future-of-journalism-with-redesign-of-the-learning-lab-news/ https://baymontchampaign.com/vidette-looks-to-the-future-of-journalism-with-redesign-of-the-learning-lab-news/#respond Wed, 28 Apr 2021 12:52:40 +0000 https://baymontchampaign.com/vidette-looks-to-the-future-of-journalism-with-redesign-of-the-learning-lab-news/ La Vidette will start the fall semester 2021 in a new direction after a reorganization that will bring student media closer to Illinois State University’s school of communication and better prepare students for the journalism of the future. For most of its 133-year history, The Vidette has been an independent, student-run medium. Beginning this fall, […]]]>


La Vidette will start the fall semester 2021 in a new direction after a reorganization that will bring student media closer to Illinois State University’s school of communication and better prepare students for the journalism of the future.

For most of its 133-year history, The Vidette has been an independent, student-run medium. Beginning this fall, The Vidette will double its role as a journalism learning laboratory by linking its work more closely to the School of Communication’s curriculum, particularly its journalism program. Vidette journalists will continue to be able to gain real-world experience while earning course credit towards their graduation.

Vidette journalists will retain their editorial independence while being guided by an educational advisor, with additional support from other professors from the School of Communication. The Vidette Publishing Board will continue to play a key role in overseeing the publication.

“There is no doubt that the journalism industry is all about change, and the staff at The Vidette are navigating this situation and will be better positioned as a leader in digital journalism,” said Dr Steve Hunt, executive director of the School of Communication. “Our staff took this moment as an opportunity to improve operations and opportunities for our students. With a new funding and program model, The Vidette is well positioned to be successful going forward.

The transition will also align The Vidette more closely with WGLT, Bloomington-Normal’s professionally staffed NPR member station. WGLT staff and studios will be relocating from the former Union Building to the Vidette Building, 500 W. Locust St., in the coming months. While The Vidette and WGLT will remain separate organizations with separate newsrooms, both staff will benefit from the ISU Journalism Learning Lab and Community Media in the same physical space. Students have worked and will continue to work for both outlets, and the two staff will have the opportunity to team up on special report projects.

The Vidette Educational Advisor will report to the WGLT Director General, RC McBride. The commercial and advertising activities of the Vidette will be absorbed by the existing staff of the WGLT in the interest of economic efficiency. Organizations will maintain separate finances and private donations to either will continue to be reserved only for that organization.

“WGLT is committed to training and preparing the journalists of the future. WGLT, both alone and through NPR, can offer the work of Vidette students a chance to reach a different audience and gain valuable experience, not to mention CV material, ”said McBride. “And in addition to the access to mentorship that Vidette students already have with faculty and the board, award-winning WGLT journalists will now be more accessible.”

This is just the latest evolution in the long history of The Vidette, which was founded in 1888 and first printed in booklet form. After decades as a primarily print publication, The Vidette will focus on fully digital publishing in the fall of 2021. Vidette students will also have access to the WGLT recording studios if they wish to embark on any projects. of audio journalism.

La Vidette, like so many American newspapers, has faced serious financial challenges in recent years as traditional advertising revenue has disappeared. Starting in July 2020, the Vidette transition committee explored many options to transform La Vidette into an agile, ambitious and sustainable type of digital news publication that could be the future of the journalism industry. The work was carried out in part by Vidette alumni and the ISU journalism faculty, including Vidette chief executive John Plevka. They ultimately opted for the model that will go into effect in the fall of 2021.

“As a student-run organization, The Vidette has been invented and reinvented many times over the past 133 years,” said Plevka. “The withdrawal of a proud print tradition represents another such reinvention. Shifting exclusively and aggressively to a digital format and aligning it with the School of Communication’s curriculum is a reinvention that should strengthen the overall student experience at The Vidette.

The School of Communication is a national leader in providing cutting-edge communication education. Through its undergraduate and graduate programs, the school prepares students for the most significant challenges facing the discipline and its professions in the 21st century. The School of Communication offers many opportunities for students to gain work experience, including with TV-10, WZND and The Vidette.



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FirstFT: the best stories of the day | Financial Times https://baymontchampaign.com/firstft-the-best-stories-of-the-day-financial-times/ https://baymontchampaign.com/firstft-the-best-stories-of-the-day-financial-times/#respond Wed, 28 Apr 2021 11:24:57 +0000 https://baymontchampaign.com/firstft-the-best-stories-of-the-day-financial-times/ Hello. Has this newsletter been sent to you? Click on here to receive FirstFT Americas in your inbox every morning of the week. Joe Biden is set to announce a $ 1.8 billion plan to expand America’s social safety net, which will be funded by steep tax hikes on the wealthiest households, senior officials said. […]]]>


Hello. Has this newsletter been sent to you? Click on here to receive FirstFT Americas in your inbox every morning of the week.

Joe Biden is set to announce a $ 1.8 billion plan to expand America’s social safety net, which will be funded by steep tax hikes on the wealthiest households, senior officials said. administration.

The proposal, which spans a decade and covers areas such as child care, paid vacation, education and health care, marks the third step in the US president’s multibillion-dollar economic program and should be the focus of his first speech in a joint session. Congress Wednesday night on the eve of his 100th day in office.

The scale of the latest plan – called the “American Families Plan” – is greater than expected just a few weeks ago, and reflects Biden’s ambition to rebuild the U.S. economy with greater government support for the United States. households in difficulty far beyond the immediate assistance provided during the pandemic.

Tax lobbyists warn the president faces a tough climb in turning the plan into legislation, which is likely to be watered down as lawmakers grapple with him in the months to come. Democrats in affluent neighborhoods, including suburbs of New York, New Jersey, California and Illinois, in addition to the predictable Republican opposition, will likely be a stumbling block.

The Biden administration has bet that tax hikes on the very rich won’t be as politically toxic as feared, and may even prove popular following big stock market gains during the coronavirus pandemic. .

If you want to learn more about the intersection of money and power in American politics Register now at Marsh Notes, a bi-weekly newsletter written by FT columnists Rana foroohar and Edward Luce.

Coronavirus digestion

  • the we The CDC revised its guidelines for wearing masks outdoors, saying it was safe for fully vaccinated people to exercise or attend small outdoor gatherings. The sudden slowdown in vaccinations revealed Joe biden’s next challenge: persuade reluctant Americans take the hits. This is the second in a series on the first 100 days of the President’s tenure.

  • A single vaccine dose may halve the risk of passing Covid-19 to household members, according to in-depth real-world study.

  • India deployed soldiers and built field hospitals to bolster its fight against a devastating second wave. A critical oxygen shortage underlined the gravity of the crisis. Read the experience of a New York Times reporter at life during the surge.

  • The economic damage caused to professional sport Japan by Covid-19 has forced the government to consider deregulating betting on football and baseball, a market estimated to be worth $ 65 billion a year.

  • JP Morgan chase away told all of his U.S. bankers that they should make arrangements to be back in the office on a rotational basis in early July. (FT, NYT)

Are you ready to return to the office? Take our survey.

Follow the news of our live blog and Register now for our Coronavirus Business Update newsletter.

In the news

Global IPOs start 2021 at a breakneck pace Stock quotes around the world are run at a record pace, with numbers and transaction values ​​at their highest level for the start of each year in at least two decades. The deluge of announcements took IPO proceeds to a record $ 230 billion this year, according to Dealogic, well above the previous high of $ 80 billion set in 2000.

Column chart of the number of IPOs, by type showing the number of IPOs has skyrocketed

Google profits hit record Alphabet, the parent of the tech giant, announced record first quarter results as homebound users watched videos and clicked web ads served by the company, which also announced a buyback program for the company. ‘$ 50 billion shares. Microsoft has exceeded expectations with growing demand for PCs and game consoles as well as cloud services. For the latest news from the tech industry Register now to our #techFT newsletter.

EU to accuse Apple of anti-competitive behavior EU competition chief Margrethe Vestager this week will accuse the iPhone maker of anti-competitive behavior over concerns raised by Spotify that App Store rules for developers violate EU law. Ten months after Apple promised “enhanced privacy features” for iPhones, the changes have finally arrived. Here’s how they’re shaking up the app economy.

Biden signs order to raise federal minimum wage The US president on Tuesday signed an executive order requiring federal contractors to pay a minimum wage of $ 15 an hour as he increased pressure on businesses and Congress to raise workers’ wages.

Saudi crown prince says he wants to mend disputes with Iran Mohammed bin Salman said in an interview with Saudi TV that Riyadh is keen to resolve its differences with rival Iran, a marked change in tone following the election of US President Joe Biden.

MEPs approve Brexit trade deal Britain’s post-Brexit trade deal with the EU passed its latest political hurdle on Wednesday, after the European Parliament overwhelmingly approved it, despite calling it ” historical error ”. register here for our Europe Express newsletter, your essential guide to what matters in Europe today, every morning of the week.

Canada hails ‘watershed moment’ in taxation Chrystia Freeland, Canada’s finance minister, called the US proposal for a global minimum corporate levy a “watershed” in an interview with the Financial Times. On Tuesday, the finance ministers of France and Germany said they would support the 21 percent minimum corporate tax rate proposed by Washington.

China set to report first population decline in 5 decades China’s latest census, which was completed in December but has yet to be released, is expected to put the country’s total population below 1.4 billion, its first drop since Mao Zedong’s disastrous Great Leap Forward. , despite the relaxation of strict family planning. policies in 2015.

Population column chart (in millions) showing that China's population fell last year

Samsung heirs reveal legacy plan The family of late Samsung patriarch Lee Kun-hee pledged billions of dollars in health spending and art donations and pledged to pay $ 11 billion in one of the biggest inheritance tax bills in the world. After Lee’s death in October, South Korea’s most powerful family had six months to tell tax officials how they were going to handle the estate of the country’s richest man.

The day ahead

Fed meeting Investors will follow the Federal Reserve’s post-meeting press conference today for any indication from President Jay Powell on the US central bank’s thinking on inflation.

Earnings It’s another big day for income: Apple is expected to post exceptional quarterly results with revenues of $ 76.6 billion, while other reporting tech, e-commerce and social media companies include Facebook, eBay, Shopify, and Spotify.

What else do we read

China is wrong to think that the United States faces inevitable decline While America might falter, that would be its choice and not its fate, writes Martin Wolf. Its economic advantages are too important. This was the basis of its global power and influence. So what does its power of innovation look like today? The answer is: pretty good, despite competition from China.

Martin Wolf: “Without Saudi oil, the five most valuable companies in the world would be American tech giants: Apple, Microsoft, Amazon, Alphabet and Facebook. China has two valuable technology companies: Tencent (seventh) and Alibaba (ninth) ”© James Ferguson

Watch out for Wall Street: SEC Gensler carries a big stick The last time Gary Gensler ran a US financial regulator, he was tasked with cleaning up the mess left by the 2008 crash. Now the new chairman of the US Securities and Exchange Commission is under pressure to crack down and deflate all bubbles. before they burst, writes Brooke Masters.

Credit Suisse: Preparing for a Return After ‘Costly Mistakes’ The two failures of Greensill Capital and Archegos have put Credit Suisse in the limelight for all the wrong reasons, raising doubts about the very existence of the 165-year-old bank and whether it will be dismantled or survive in a troubled European banking market. pressure to consolidate.

The new wave of crypto users A growing number of Latin Americans are using cryptocurrency send funds from the United States to the family at home. While technological barriers still exist, crypto allows migrant workers to avoid high commission fees and has grown in popularity amid problems with currency devaluation. (Rest of the world)

Creating better jobs for young people What do young people expect from the world of work? Tired tropes about “job applicants” looking for “meaning” are a distraction. Most young people want what their parents and grandparents wanted: a decent income, a chance to grow, and enough security to build a life. The problem is, too few understand it.

Have you recently graduated? As part of a reporting project, we want to know what the past year has been like for you. Please share your stories and thoughts in our investigation.

In the UK, people under 35 account for over 80% of the drop in the number of employees since February

In the United Kingdom, those under 35 account for more than 80% of the drop in the number of employees since last February © FT montage / Getty

Podcast of the day

The finances of moving abroad After months of deadlock, Viktoria, a 31-year-old financial professional, is considering moving abroad. She talks to Claer Barrett about her desire to escape corporate life in London and her worries about the fate of her property, pensions and investments.

Thanks for the reading. Send your recommendations and comments to firstft@ft.com



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