
Attrition program, cost-cutting measures debated as Kane County Board grapples with impending budget shortfall
At a special Finance Committee meeting last week, board members floated suggestions for cost-cutting measures as the county approaches having to dip into its required 90-day reserve funds, and returned again to the idea of a county-wide hiring freeze.
'We have not done our jobs,' Kane County Board member Leslie Juby said at Thursday's meeting about the board's impending budget crisis.
County officials have been sounding the alarm on looming budget problems for more than a year, warning of an impending shortfall as other options were used up or made unavailable, according to past reporting.
In recent years, the county had been using federal pandemic relief money for both capital projects and paying for salaries and benefits, but all of that funding had to be allocated by the end of 2024. COVID-19 money enabled the county to build up its reserve funds, but those too have been spent down to balance the budget each year since 2023, according to past reporting.
The county is on pace to dip below the required 90-day reserves in 2027 if revenue and spending remains level, county officials have said.
One solution was an additional revenue stream, most notably a proposed 0.75% sales tax touted by some as a viable solution to the budget gap. But, in April, voters overwhelmingly shot down the measure.
County officials have previously noted that Kane County had been delaying the start of its budgeting process to wait for the results of the referendum.
But now, with the failed sales tax referendum and limited revenue options, the county is facing tough choices and weighing cost-cutting options over the next few months. The board must approve a budget by Dec. 1, the first day of the county's new fiscal year.
One solution that has been on the table for the board is an employee attrition program. In March, it was proposed to the Kane County Board Finance Committee as a hiring freeze for county departments, as well as establishing an evaluation panel to determine on a case-by-case basis how to accommodate vacancies that arise in the county without directly hiring employees.
The county's executive director of human resources Jamie Lobrillo noted at the March meeting that the county is already under a sort of hiring freeze, but the current policy has no uniform process across departments for evaluating vacancies and approving hires when needed.
A key part of the proposal is establishing an evaluation panel — made up of the executive directors of the county's finance and human resources departments, the county board's vice chair and another board member — who would determine how a vacancy can be remedied and when a new hire is necessary.
'I think the idea of never replacing any positions isn't realistic,' Lobrillo told the board's Finance Committee in March. 'We have business we have to … get done.'
The proposed resolution generated concern among Finance Committee members.
Juby, for example, said the proposed plan's evaluation panel effectively puts finance and human resource department heads over other department heads in the county. Board member Verner Tepe and County Board Chair Corinne Pierog said evaluating hiring should be a board process.
The Finance Committee ultimately voted to send the resolution to the Human Services Committee, which discussed it at its April 9 meeting. The resolution pitched to the Human Services Committee in April also included a voluntary separation incentive plan for county employees willing to resign. The make-up of the proposed evaluation panel again led to pushback from the board.
In addition to the employee attrition program, board members at last week's special meeting began floating other ideas to reduce costs.
Juby, for example, suggested fixes like transferring expenses to special funds to free up other money, ensuring the county purchases commodities at the most affordable price and considering fee increases in the county.
Tepe said the county could reallocate Regional Transportation Authority funds and replace them via increasing the county's gas tax, or make reductions in IT and maintenance.
He also noted that the majority of the county's general fund goes toward public safety, the leaders of which have staff of their own responsible for budgeting.
'We should be sitting with them at this table,' Tepe noted.
Board member Bill Roth suggested fixes and policies ranging from reducing items in storage to outsourcing services like payroll. He also noted procedural changes like more thorough grant reporting and the idea of departments forming five-year budgets.
Pierog also noted grant accountability to ensure that general funds don't end up paying for programs and services after the grant money for them expires.
On Thursday, Bates suggested the idea of cuts to services and programs occurring over a three-year period so that the effects are felt by the county less intensely.
Not all board members agreed.
Board member Ted Penesis suggested the board aim to cut what needs to be cut — which Pierog said Thursday was in the range of $25 million to $29 million — in next year's budget.
'We have a statute that we have to balance our budget for (2026),' board member Bill Lenert said. 'So it's not an option to phase in,' he said, saying that using reserves to phase cuts in over multiple years is pushing the problem down the road.
The county's potential attrition program is set to be discussed at a future committee meeting later this month.
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and competitive developments. A further description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in its subsequent reports on Form 10-Q, including in the sections thereof captioned "Risk Factors" and "Forward-Looking Information and Factors That May Affect Future Results", as well as in its subsequent reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at and About BioNTechBiopharmaceutical New Technologies (BioNTech) is a global next generation immunotherapy company pioneering novel investigative therapies for cancer and other serious diseases. BioNTech exploits a wide array of computational discovery and therapeutic modalities with the intent of rapid development of novel biopharmaceuticals. Its diversified portfolio of oncology product candidates aiming to address the full continuum of cancer includes mRNA cancer immunotherapies, next-generation immunomodulators and targeted therapies such as antibody-drug conjugates (ADCs) and innovative chimeric antigen receptor (CAR) T cell therapies. Based on its deep expertise in mRNA development and in-house manufacturing capabilities, BioNTech and its collaborators are researching and developing multiple mRNA vaccine candidates for a range of infectious diseases alongside its diverse oncology pipeline. 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In some cases, forward-looking statements can be identified by terminology such as "will," "may," "should," "expects," "intends," "plans," "aims," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond BioNTech's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with preclinical and clinical data, including the data discussed in this release, and including the possibility of unfavorable new preclinical, clinical or safety data and further analyses of existing preclinical, clinical or safety data; the nature of the clinical data, which is subject to ongoing peer review, regulatory review and market interpretation; BioNTech's pricing and coverage negotiations with governmental authorities, private health insurers and other third-party payors after BioNTech's initial sales to national governments; the future commercial demand and medical need for initial or booster doses of a COVID-19 vaccine; the impact of tariffs and escalations in trade policy; the availability of raw materials to manufacture a vaccine; our vaccine's formulation, dosing schedule and attendant storage, distribution and administration requirements, including risks related to storage and handling after delivery; competition from other COVID-19 vaccines or related to BioNTech's other product candidates, including those with different mechanisms of action and different manufacturing and distribution constraints, on the basis of, among other things, efficacy, cost, convenience of storage and distribution, breadth of approved use, side-effect profile and durability of immune response; the ability to obtain recommendations from vaccine advisory or technical committees and other public health authorities and uncertainties regarding the commercial impact of any such recommendations; the timing of and BioNTech's ability to obtain and maintain regulatory approval for BioNTech's product candidates; the ability of BioNTech's COVID-19 vaccines to prevent COVID-19 caused by emerging virus variants; BioNTech's and its counterparties' ability to manage and source necessary energy resources; BioNTech's ability to identify research opportunities and discover and develop investigational medicines; the ability and willingness of BioNTech's third-party collaborators to continue research and development activities relating to BioNTech's development candidates and investigational medicines; the impact of COVID-19 on BioNTech's development programs, supply chain, collaborators and financial performance; unforeseen safety issues and potential claims that are alleged to arise from the use of BioNTech's COVID-19 vaccine and other products and product candidates developed or manufactured by BioNTech; BioNTech's and its collaborators' ability to commercialize and market BioNTech's COVID-19 vaccine and, if approved, its product candidates; BioNTech's ability to manage its development and related expenses; regulatory developments in the United States and other countries; BioNTech's ability to effectively scale BioNTech's production capabilities and manufacture BioNTech's products, including BioNTech's target COVID-19 vaccine production levels, and BioNTech's product candidates; risks relating to the global financial system and markets; and other factors not known to BioNTech at this time. You should review the risks and uncertainties described under the heading "Risk Factors" in BioNTech's Report on Form 6-K for the period ended March 31, 2025, and in subsequent filings made by BioNTech with the SEC, which are available on the SEC's website at These forward-looking statements speak only as of the date hereof. Except as required by law, BioNTech disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. [Category: Vaccines] 1 Vaccines and Related Biological Products Advisory Committee. 22 May 2025. Meeting Presentation- 2025-2026 COVID-19 Vaccine Formula: Pfizer/BioNTech Supportive Data. Available at: Accessed 13 June 2025.2 European Medicines Agency (EMA) ETF recommends updating COVID-19 vaccines to target new LP.8.1. 16 May 2025. Available at: Accessed 13 June 2025. View source version on Contacts Pfizer: Media Relations+1 (212) 733-1226PfizerMediaRelations@ Investor Relations+1 (212) 733-4848IR@ BioNTech: Media RelationsJasmina Alatovic+49 (0)6131 9084 1513Media@ Investor RelationsVictoria Meissner, M.D.+1 (617) 528-8293Investors@


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Bank of America's Curtis Nagle believes that several potentially positive catalysts are not currently reflected in the shares' price, and he maintains a Buy rating with a $9.50 price target. Meanwhile, Susan Anderson from Canaccord Genuity recently reiterated a Buy rating on the shares with a price target of $10, noting the company's launch of a new marketplace for refurbished equipment that aims to tap into the second-hand market. This could provide a new revenue channel while encouraging existing users to upgrade their equipment. PTON Lacks Pace in a Crowded Field While Peloton's cost-cutting efforts have had a positive impact, operational improvements alone cannot overcome structural market challenges. Revenue decline has resumed, subscriber growth has stalled, and competitive pressures continue to mount, with no clear differentiation strategies in place.


New York Post
4 hours ago
- New York Post
George Santos bids dramatic farewell to supporters, critics before he begins 87-month prison sentence: ‘The curtain falls'
Former Rep. George Santos posted a theatrical farewell on social media Thursday night, just hours before he was to begin serving a federal prison sentence for fraud and identity theft. 'Well, darlings… The curtain falls, the spotlight dims, and the rhinestones are packed,' Santos wrote on X. 'From the halls of Congress to the chaos of cable news what a ride it's been! Was it messy? Always. Glamorous? Occasionally. Honest? I tried… most days. To my supporters: You made this wild political cabaret worth it. To my critics: Thanks for the free press.' The former New York congressman is expected to report to federal custody Friday to begin serving an 87-month sentence, just over seven years, after pleading guilty in 2024 to wire fraud and aggravated identity theft. Santos was assessed the maximum sentence in April by US District Judge Joanna Seybert. He was also ordered to pay nearly $374,000 in restitution and forfeit more than $205,000 in fraud proceeds. His guilty plea followed a sweeping investigation into campaign finance fraud, donor identity theft and false COVID-era unemployment claims. 5 Former Rep. George Santos leaves Federal Court after his sentencing in Islip, NY on April 25, 2025. PETER FOLEY/EPA-EFE/Shutterstock 5 Santos blows a kiss to the cameras as he leaves a federal courthouse in Islip, NY on Oct. 27, 2023. REUTERS 'This prosecution speaks to the truth that my office is committed to aggressively rooting out public corruption,' said US Attorney John J. Durham, who called the sentence 'judgment day' for Santos and justice for his victims. Nassau County District Attorney Anne T. Donnelly said Santos 'traded in his integrity for designer clothes and a luxury lifestyle.' Prosecutors shared how Santos and his campaign treasurer, Nancy Marks, doctored donor reports to qualify for national Republican party funding. They fabricated contributions from Santos' family and falsely reported a $500,000 loan from Santos, though he had under $8,000 in his accounts. Well, darlings… The curtain falls, the spotlight dims, and the rhinestones are packed. From the halls of Congress to the chaos of cable news what a ride it's been! Was it messy? Always. Glamorous? Occasionally. Honest? I tried… most days. To my supporters: You made this wild… — George Santos (@MrSantosNY) July 24, 2025 He also stole credit card information from donors, including 'victims he knew were elderly persons suffering from cognitive impairment or decline' and made unauthorized charges to fund both campaign and personal expenses, according to the DOJ. Santos also used a fake political fundraising company to solicit tens of thousands of dollars which he spent on 'designer clothing.' During the pandemic, Santos fraudulently claimed over $24,000 in unemployment benefits while employed at an investment firm. He also submitted false congressional financial disclosures to the House. 5 Former Rep. George Santos arrives at federal court for his sentencing on April 25, 2025. AP 5 Former Rep. George Santos leaves federal court on Aug. 13, 2024. Bloomberg via Getty Images 5 Santos appears in a social media post in June 2025. George Santos/ X Santos was elected in 2022 after flipping New York's 3rd District for the GOP. His résumé was easily debunked. He falsely claimed academic degrees, Wall Street jobs and family ties to the Holocaust and 9/11. He was expelled from Congress in December 2023 after a scathing ethics report, becoming just the sixth member ever removed from the People's House. Santos has remained publicly active after his sentencing, selling video messages on Cameo and making social media posts. His tweet concluded, 'I may be leaving the stage (for now), but trust me legends never truly exit.' Unless pardoned, Santos is expected to remain incarcerated until at least early 2032. He has reportedly appealed to President Donald Trump for clemency. The White House and Santos did not immediately respond to Fox News Digital's request for comment.