Lockport Township HSD 205 adopts 2025–26 budget after detailed presentation on taxes, bonds and fund balance

The Lockport Township High School District 205 Board of Education on Sept. 15 approved the district’s fiscal year 2025–26 budget following a presentation from Treasurer Stephanie Kroy and Superintendent Dr. Bob McBride that outlined revenue gains, bond proceeds and planned transfers between funds.

Treasurer Stephanie Kroy told the board that the district’s fund balances appeared lower in the August 31 reports because “we’re before most of the fall taxes are collected,” and that collection in September should restore cash to typical levels. Kroy walked the board through a comparison of the tentative budget posted in July and the final budget presented for approval, noting increases driven by investment interest, newly awarded grants and additional evidence‑based funding.

The presentation said the district estimates a 4% increase in the 2025 tax levy, driven by a 2.9% consumer price index adjustment and roughly $40 million in new assessed property value. Kroy described that calculation as an estimate and said the district uses the county assessor’s numbers and an estimated tax rate of about 1.7386 to compute the projected new revenue. Superintendent Dr. Bob McBride and Kroy explained that roughly $95,000 of new tier funding and some title grants that were not budgeted tentatively were added to the final budget.

Board members and staff spent substantial time on how the budget treats bond proceeds and debt service. McBride said the primary reason expenditures exceed revenue on the summary page—about $6.8 million—was the bond proceeds received when bonds were sold last spring. He added that a portion of that amount sits in fund balance awaiting construction and capital projects. Kroy and McBride also explained the district’s approach to debt service abatements: the board has previously approved abating the debt service levy and intends to consider a similar abatement again in December, which would require the education fund to transfer cash to debt service to cover bond payments.

Kroy reviewed required annual disclosures included with the treasurer’s report, including union dues certification and the Public Act disclosure on compensation (referenced in the materials as Public Act 97‑259), and noted required ISBE postings. She emphasized that the tentative budget was posted in July to ensure more than the minimum 30‑day inspection period required by law before final adoption.

During discussion, board members asked for additional examples of household impact and for follow‑up information about how new property and CPI components break down into estimated dollars; Kroy said she will bring sample household scenarios when the levy is presented in November. Board members also asked how fund balance transfers would work if the board again approves abatements in December; staff responded that transfers from the Education Fund to Debt Service are budgeted to cover bond payments in that scenario.

Action: Board member Anne Lopez Keneva moved to approve the final 2025–26 budget; Candace Garrison seconded. The board approved the budget in a roll‑call vote. Earlier in the meeting the board had held and closed the required public budget hearing by roll call; no public comments were offered during the hearing.

Why it matters: Property taxes and fund balance decisions determine the district’s operating capacity for instruction, transportation and capital projects. The budget documents presented to the board show where discretionary choices—use of fund balance, levy assumptions and grant acceptance—affect classroom and facilities spending.

What’s next: The board will consider the tentative tax levy in November and the final levy and any abatement resolutions in December, when the county clerk’s filing deadline requires submission of the final levy.