logo
West Aurora School District renews food service contract with OrganicLife

West Aurora School District renews food service contract with OrganicLife

Chicago Tribune26-05-2025

The West Aurora School District 129 board recently voted unanimously to renew the district's food service contract with Chicago-based OrganicLife for the 2025-26 school year.
OrganicLife has been the district's food service provider for the past six years.
The new contract with OrganicLife has an increase in cost of 3.6% based on the Consumer Price Index, West Aurora School District Associate Superintendent Angie Smith said.
West Aurora students do receive free breakfast and lunch. However, they do pay for a la cart items in the cafeteria. Those prices are not going up, Smith said.
'All students in our district receive a free breakfast and lunch daily as we are covered by the Community Eligibility Provision of the National School Lunch Program. Students only pay for a la carte items or second meals and we are not increasing those prices,' Smith said.
The district overall is pleased with its food service provider, she said.
'OrganicLife is an amazing partner who continues to look for ways to better support our students. As an example, this year we met with student groups and got some feedback on increasing awareness and availability of plant-based options. At the elementary level, we have tested offering hot breakfast items as part of our menu and will roll that out to all buildings next year,' Smith said.
'We welcome feedback and OrganicLife has always been responsive and provided options and solutions for our students,' she said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lack of documentation can be fatal when claiming expenses on taxes
Lack of documentation can be fatal when claiming expenses on taxes

Yahoo

time21 minutes ago

  • Yahoo

Lack of documentation can be fatal when claiming expenses on taxes

One of the practical pieces of tax advice that I continuously dole out to clients, friends and family members each year is the critical importance of keeping receipts for any deductions or credits you plan to claim on your tax return. While this goes without saying for obvious items such as charitable donations and eligible medical expenses, it's perhaps even more important to keep receipts of other expenses, such as employment or business expenses, that you plan to deduct on your return to lower your final tax bill. Depending on your tax bracket, those receipts can be worth more than 50 cents on the dollar. Consider the self-employed, high-income earning Vancouver-based IT consultant who spent $1,000 in airfare to visit a client in 2025. At her top marginal tax rate of 53.5 per cent, hanging on to that receipt could save her $535 in real hard cash taxes that she otherwise would have to remit to the Canada Revenue Agency by April 30, 2026. That's why I encourage anyone who claims employment or business expenses to carefully track them and keep those receipts. That can be done 'old school,' by physically hanging on to the relevant receipts and filing them in a paper folder for tax season. Alternatively, many of us are now in the habit of taking a picture of the receipt (or scanning it) and saving the receipts in an online 'tax folder', by year, stored virtually in the cloud, so that these receipts are all together in one place come tax time. If you incur substantial business or employment expenses each year, I would go so far as to recommend a separate credit card so that you can easily segregate your work expenses from your personal expenses, especially when it comes to some retail purchases that could be either. For example, was that recent Staples purchase tax-deductible office supplies or a large back-to-school stock-up for the kids? The importance of keeping receipts to justify your expenses came up yet again in a recent decision of the Federal Court of Appeal released late last month. The issue before the appellate court was whether the lower Tax Court erred in disallowing additional deductions for motor vehicle expenses incurred by the taxpayer in connection with his employment. While it was clear that the taxpayer travelled for work and qualified for various employment expense deductions permitted under the Income Tax Act, the Tax Court concluded that the deductions should not be allowed because the taxpayer did not provide sufficient evidence to demonstrate the amount that should be deductible. I first wrote about this case last year, so before reviewing the decision of the appellate court, here's a brief summary of the facts. The taxpayer was appealing reassessments of his 2015, 2016, 2017 and 2018 taxation years in which the CRA reduced or denied certain expenses claimed in each of those years. The taxpayer, a visiting registered nurse, was simultaneously employed by four separate employers in 2015 and three separate employers in 2016, 2017 and 2018. His job was to provide nursing services to individuals in their own homes or in a retirement or nursing home. During the tax years under review, he provided nursing services six days one week and four days the next week on a rotating basis. Each week included two or three seven-hour night shifts during which he was on standby for patients who required urgent care. The night before each workday, his employers would provide a schedule of the patients he was to visit the following day. The taxpayer estimated he visited between 10 and 30 patients during a day shift, and he worked an average of 40 to 45 hours per week, plus the two to three seven-hour night shifts. Each employer paid the taxpayer a fixed amount for each patient visit, regardless of the nursing services provided. He travelled daily from his south-central Ontario community to visit patients in the Greater Toronto Area. The taxpayer deducted various automobile expenses in each year, which were denied. Under the Income Tax Act, to be able to deduct vehicle expenses as an employee, you must normally be required to work away from your employer's place of business or in different places, and you must be required to pay your own automobile expenses, as certified on Form T2200, Declaration of Conditions of Employment. In addition, you must not be the recipient of a 'non-taxable' allowance for motor vehicle expenses. An allowance is considered non-taxable when it is solely based on a 'reasonable' per-kilometre rate. The taxpayer may have been entitled to claim some of these as valid expenses, but he was unable to supply any evidence to back up the expenses he had claimed. He testified he had previously provided the records to the CRA by registered mail, but the CRA never received them, and he was unable to provide any backup documentation in court. This proved to be fatal for the taxpayer's claim in Tax Court. 'Maintaining books and records is an ongoing obligation in a self-assessing system and the taxpayer's failure to do so … made it impossible for him to meet the evidentiary burden … to demolish the (CRA's) assumptions' about the denied expenses,' the lower court judge wrote, citing a prior case. The taxpayer appealed the Tax Court's decision to the Federal Court of Appeal, which heard the case at the end of May. The three-judge panel of the appellate court considered whether the taxpayer had provided sufficient evidence as to the amount of his expenses to justify a deduction on his return. The taxpayer tried to argue that, notwithstanding having any receipts or backup documentation, he was found to be a 'credible witness' by the Tax Court judge, and thus his testimony as to the amount of expenses he had incurred and claimed on his tax returns should simply be believed. The appellate court disagreed, writing, 'it was not a matter of disbelieving him; it was a matter of the (taxpayer) failing to present sufficient evidence to demonstrate that the amounts claimed were in fact deductible.' How spousal RRSPs can reduce taxes without getting you in trouble Have you made a mistake or need to change your tax return? Here's how Bottom line – you could be the most honest, believable and trustworthy taxpayer, with a perfect record of tax compliance stretching back decades. But, if you are unable to back up your tax deductions with hard evidence, you are unlikely to be successful in the face of a CRA review. Jamie Golombek, FCPA, FCA, CFP, CLU, TEP, is the managing director, Tax & Estate Planning with CIBC Private Wealth in Toronto. If you liked this story, in the FP Investor newsletter.

Stablecoin bigwig Circle set to make its debut on the New York Stock Exchange
Stablecoin bigwig Circle set to make its debut on the New York Stock Exchange

Boston Globe

time25 minutes ago

  • Boston Globe

Stablecoin bigwig Circle set to make its debut on the New York Stock Exchange

Interest in Circle's initial public offering is high. The company's underwriters priced the offering at $31 per share Wednesday, up from an expected price of $27 to $28. The number of shares being sold was raised to 34 million from 32 million. Circle will trade on the NYSE under the symbol 'CRCL.' The shares had not opened for trading as of midday. A view outside the New York Stock Exchange on June 5. Richard Drew/Associated Press Advertisement The dominant player in the stablecoin field is El Salvador-based Tether, which has the stablecoin known as USDT that currently has about $150 billion in circulation. USDC is the second most popular stablecoin market cap, with about $60 billion in circulation. Circle said in a regulatory filing that USDC has been used for more than '$25 trillion in onchain transactions' since its launch in 2018. Revenue-wise the company has seen tremendous growth, going from just $15 million in 2020 to $1.7 billion in 2024. Stablecoin issuers make profits by collecting the interest on the assets they hold in reserve to back their stablecoins. Circle said USDC is backed by 'cash, short-dated US Treasuries and overnight US Treasury repurchase agreements with leading global banks.' Advertisement Circle's IPO comes amid a push by the Trump administration and the crypto industry to pass legislation that would regulate how stablecoin issuers operate in the US. A Senate bill There is also growing competition in the stablecoin field. A crypto enterprise partly owned by the Trump family just launched its own stablecoin, USD1. Circle said its long track record and values – the company says its mission statement is 'to raise global economic prosperity through the frictionless exchange of value' – will help it stand apart in the field.

Mortgage lenders raise rates amid uncertainty over BoE interest rate cuts
Mortgage lenders raise rates amid uncertainty over BoE interest rate cuts

Yahoo

time27 minutes ago

  • Yahoo

Mortgage lenders raise rates amid uncertainty over BoE interest rate cuts

Many of the major lenders raised their mortgage rates this week, amid uncertainty over the pace of future interest rate cuts by the Bank of England. The average rate for a two-year fixed mortgage stands at 4.89%, while five-year fixed deals average 5.09%, according to data from Uswitch. Comments by Bank of England governor Andrew Bailey at a cross-party Treasury select committee session on Tuesday over the impact of US president Donald Trump's tariffs on policymaking cast more doubt over the central bank's pace of rate cuts. Bailey said that while the interest rate "path remains downwards, but how far and how quickly is now shrouded in a lot more uncertainty, frankly.' The Bank of England has cut interest rates from 4.5% to 4.25% in early May, meaning the average homeowner on a tracker mortgage will see their monthly repayments fall by nearly £29, after the quarter-point snip to the base rate. However, the primary inflation measure, the Consumer Price Index (CPI), stood at 3.5% in the 12 months to April, a higher-than-expected increase from the previous month. That means price increases are moving away from the BoE's 2% target. This week, no major lender cut rates, with the majority hiking mortgages for first-time buyers as the market moves away from the mini price war that pushed deals deep into under-4% territory. HSBC (HSBA.L) has a 4.01% rate for a five-year deal, which is up from the previous week. For those with a Premier Standard account with the lender, this rate is 3.98%. Looking at the two-year options, the lowest rate is 3.96% on a Premier Standard account with a £999 fee, slightly higher from the previous week. Both cases assume a 60% loan-to-value (LTV) mortgage, meaning buyers need to have at least 40% for a deposit. HSBC offers 95% LTV deals, meaning you only need to save for a 5% deposit. However, the rates are much higher, with a two-year fix at 5.05% or 4.89% for a five-year fix. This is because their financial situation and deposit size determine the rate someone can get. The larger the deposit, the lower the LTV, allowing buyers to access better deals because lenders consider them less risky. NatWest's (NWG.L) five-year deal is 3.99% with a £1,495 fee, which is unchanged from last week. The cheapest two-year fix deal is 3.94%, which is also unchanged from last week. You'll need at least a 40% deposit to qualify for the rates in both cases. At Santander (BNC.L), a five-year fix is 4.08% for first-time buyers, higher than the previous 3.93%. It has a £999 fee, assuming a 40% deposit. Read more: Average first-time buyers in London need almost £140,000 for a deposit For a two-year deal, customers can also secure a 4.01% offer, with the same £999 fee, higher than the previous 3.90%. Barclays (BARC.L) was the first among major lenders to bring back under-4% deals and currently has a five-year fix at 3.99%, which is slightly higher than 3.89% last week. For "premier" clients, this rate dips to 3.98%. The lowest for two-year mortgage deals is 3.97%, which is also up on 3.87% last week. Barclays has launched a mortgage proposition to help new and existing customers access larger loans when purchasing a home. The initiative, known as Mortgage Boost, enables family members or friends to effectively "boost" the amount that can be borrowed toward a property without needing to lend or gift money directly or provide a larger deposit. Read more: Best credit card deals of the week Under the scheme, a borrower's eligibility for a mortgage can increase significantly by including a family member or friend on the application. For example, an individual with a £37,500 annual income and a £30,000 deposit might traditionally be able to borrow up to £168,375, enabling them to purchase a home priced at around £198,375. However, with Mortgage Boost, the total borrowing potential can rise substantially if a second person, such as a parent, joins the application. In this case, if the second applicant also earns £37,500 a year, the combined income could push the borrowing limit to £270,000, enabling the buyer to afford a home worth up to £300,000. Nationwide (NBS.L) offers a five-year fix at 4.24%, with a £999 fee and a 40% deposit and was down from 4.34% last week. Nationwide offers a two-year fixed rate for home purchase at 4.04% with a £999 fee — also for borrowers with a 40% deposit. Again, down from 4.34% in the previous week. The lender has announced it is changing the eligibility criteria for its mortgage scheme, which allows people to borrow up to six times their income. The minimum income required to take out a Helping Hand mortgage has been reduced to £35,000 — meaning more people will be eligible for the scheme. The minimum income requirement for joint applications will remain at £55,000. Helping Hand mortgages enable people to borrow up to six times their income, meaning potential homeowners can borrow 33% more compared to Nationwide's standard lending at 4.5 times income. Halifax, the UK's biggest mortgage lender, offers a five-year rate of 4.03% (also 60% LTV). The lender, owned by Lloyds (LLOY.L), offers a two-year fixed rate deal at 4%, with a £999 fee for first-time buyers. Read more: How to negotiate house prices It also offers a 10-year deal with a mortgage rate of 4.78%. The lender has announced the launch of a new 1.5-year fixed-rate remortgage product in response to growing demand among borrowers for shorter-term deals. Shorter-term fixes offer certainty over monthly payments while allowing households to switch to a new deal sooner to take advantage of lower rates. As providers start hiking rates, prospective homeowners are quickly running out of good options. HSBC's (HSBA.L) 3.98% is currently the cheapest deal for five-year fixes and for two-year fixes at 3.96%, though access requires a hefty 40% deposit. The average UK house price is £273,427, so a 40% deposit equals about £120,000. A growing number of homeowners in the UK are opting for 35-year or longer mortgage terms, with a significant rise in older borrowers stretching their repayment periods well into their 70s. Read more: UK house prices rise in May as higher wages, low unemployment boost market Lender April Mortgages offers buyers the chance to borrow up to seven times their income on loans fixed for five to 15 years. Both those buying alone and those buying with others can apply for the mortgage. As part of the independent Dutch asset manager DMFCO, the company offers interest rates starting at 5.15% and an application fee of £195. Skipton Building Society has also said it would allow first-time buyers to borrow up to 5.5 times their income to help more borrowers get on the housing ladder. Leeds Building Society is increasing the maximum amount that first-time buyers can potentially borrow as a multiple of their earnings with the launch of a new mortgage range. Aspiring homeowners with a minimum household income of £40,000 may now be able to borrow up to 5.5 times their earnings. Mortgage holders and borrowers have faced record-high repayments in recent years, as the Bank of England's base rate has been passed on by banks and building societies. According to UK Finance, 1.3 million fixed mortgage deals are set to end in 2025. Many homeowners will hope the Bank of England acts quickly to cut rates more aggressively. At the same time, savers will likely root for rates to remain at or near their current levels. Read more: Best credit card deals of the week UK mortgage approvals drop for third month in a row How next week's spending review could impact your financesError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store