Kaneland School District notes

By on April 9, 2009

by Lynn Meredith

Garland hired as Stewart assistant principal
The Kaneland School Board approved the hiring of Laura Garland for the position of assistant principal at John Stewart Elementary. Garland has served as a kindergarten and first grade teacher at John Shields and Blackberry Creek. She is currently a reading specialist at John Shields Elementary.

District reduces benefit funds to meet recommended balance
The Kaneland Employee Benefit Trust Fund will be reduced by $1.2 million dollars to bring it down to the recommended fund balance. Currently it has a balance of more than $2.5 million dollars or 10 to 12 months of claims. The industry standard is four months.

“That’s too much money to tie up. It’s restricted and unavailable for use for anything else,” Assistant Superintendent of Business Tom Runty said.

The School Board voted to move the money into Wellness Committee activities, such as the blood draw analysis and flu shots, and to provide seed money for others. In addition, it will provide a month holiday from paying premiums which saves employees a total of $53,308. The money will also be used to offset increases in premiums for staff and the board.

District’s bond rating improves
The district’s long-term financial rating on its bonds has been elevated from an “A” to an “AA” by Standard and Poor Rating Services. The rating reflects Standard and Poor’s opinion that the district has very strong income and extremely strong wealth levels and that it is improving financial operations and has good reserve levels.