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Lockport Township HSD 205 board approves tentative 2025-26 budget after year-end fund balance gain
Summary
The Lockport Township High School District 205 board approved a tentative 2025-26 budget after hearing a treasurer—s report showing larger-than-expected fund balances driven by conservative spending, higher-than-expected tax collections and a 10% increase in assessed property values in both Homer and Lockport townships.
The Lockport Township High School District 205 Board of Education approved a tentative budget for fiscal year 2025-26 after the district—s business office reported stronger-than-expected year-end fund balances.
Treasurer and interim business staff presented the June 30, 2025 closing financials, showing the district—s total fund balance roughly $4 million higher than projected and a statement of position described in board materials as about $78,000,000 at year end. The board voted to place the tentative budget on public display and continue the normal levy and budget timeline.
"When we closed books on June 30, we closed books for the entire fiscal year," the superintendent explained in the meeting, summarizing the treasurer—s presentation. He told the board the favorable performance came from three primary levers: very conservative spending during the year, unexpectedly high tax collections (about 51% collected in the May tax installment rather than the more-conservative projection), and an unanticipated 10% increase in assessed property values by Homer Township and Lockport Township assessors.
The treasurer—s presentation emphasized that about 40% of the reported fund balance is encumbered in investments while 55% to 60% is liquid cash. Board materials and the superintendent—s remarks also cited planned uses of fund balance: roughly $20 million anticipated to support prior commitments such as debt service abatement and facility work at Central (including non-life-safety projects and planned Central renovations) and a larger East Campus facilities master plan yet to be developed.
The board discussed the district—s levy process and the connection between the tentative budget and the tax levy. Administration noted Illinois—s property-tax limit mechanism tied to the consumer price index and the Property Tax Extension Limitation Law (PTELL); the administration said the current allowable growth factor used for levy planning was 2.91% and that the levy mechanics and final filing require follow-up before the September adoption vote.
Board members asked about projected long-term balances. The district—s five-year forecast shown to the board projects a decline in fund balances if the board uses fund balance for planned projects, estimating about $72,000,000 by 2030 under current assumptions (the presentation showed a high of roughly $93 million in 2025 falling toward the mid-70s over the forecast horizon). Administration noted the forecast does not yet include any East Campus facility costs and makes assumptions about labor agreements and bell schedule changes.
The board voted in roll call to place the tentative budget on display and continue the approval process; the administration reminded trustees that approving the tentative budget initiates the required 30-day public display before a final adoption vote.
Administration urged trustees to review the full tentative budget binder, and offered one-on-one follow-up with business staff to walk through line items.
