If you pick up a newspaper or listen to the news you undoubtedly have noticed reports about the crisis in school funding. First and foremost, let me assure you that the Lake Forest public schools are currently in good financial standing. This is due to prudent long-range planning by our Board of Education, Finance Committee and Administration.

However, we are not without our economic challenges. With the sharp decline in interest income, impact fees, and State funding, our five-year forecast projects that we will be challenged over the next few years. As a result, we will be forced to utilize a portion of our accumulated Fund Balance and reduce expenditures.

I have asked our administrative team to continue to analyze our budget and economize wherever possible without compromising teaching and learning. Our teachers and staff are
also assisting with identifying areas for cost savings today and in the future. We are confident that these modifications will not impact our educational program overall.

Long-term, I am confident that we have a plan that protects the classroom while streamlining operations. Please be assured that the district's leadership and staff are committed to reducing expenses and doing all we can to protect our educational program. We have an outstanding team and I have great confidence in the talented individuals who bring your child's
education to life.