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Motion to Grant Petition for Emergency Financial Assistance and the Establishment of a Financial Oversight Panel for Venice Community Unit School District 3

Whereas, pursuant to Section 1B-4 of the School Code (105 ILCS 5/1B-4), Venice Community Unit School District #3, has petitioned the State Board of Education for emergency financial assistance and the establishment of a Financial Oversight Panel by affirmative vote of a majority of the board of Venice Community Unit School District #3 on June 18, 2003; and,

Whereas, Venice Community Unit School District #3 has presented clear and convincing documentation of its past, present and future financial condition that warrants the immediate Certification by the State Board of Education as being in financial difficulty pursuant to Section 1A-8 of the School Code by Board; and,

Whereas, the State Board has reviewed the current financial condition of the School District and the Petition for Emergency Financial Assistance and the Establishment of a Financial Oversight Panel (Petition); and

Whereas, the State Superintendent has recommended that the clear and convincing financial documentation of the Venice Community Unit School District #3 warrants the immediate Certification by the State Board as a School District in financial need and that the Petition be granted; and

Whereas, pursuant to Section 1B-4 of the School Code (105 ILCS 5/1B-4), the State Board, in arriving at their decision on whether or not to approve the School District’s Petition, considered the following relevant factors:

  1. Whether the petition is in the best educational interests of the pupils of the School District;
  2. Whether the petition is in the near and long term best financial interests of the School District;
  3. Whether the School District has sufficient pupil enrollment to provide and maintain recognized schools;
  4. Whether the petition is in the best interests of the other schools of the area and the educational welfare of all the pupils therein;
  5. Whether the board of education has complied with the requirements of Section 1A-8 of the School Code regarding districts certified to be in financial difficulty. (105 ILCS 5/1A-8).

Therefore, the State Board of Education, having considered the aforementioned factors in arriving at its decision, Certifies that Venice Community Unit School District #3 is in financial difficulty and thereby grants the Petition for Emergency Financial Assistance and the Establishment of a Financial Oversight Panel for Venice Community Unit School District #3.

Illinois State Board of Education
100 North First Street
Springfield, IL 62777