Board adopts fiscal 2026 budget after public hearing; officials cite delayed tax receipts

The Board of Education approved the district's fiscal year 2026 budget Tuesday after a public hearing that produced no public comments. Board members voted by roll call to adopt the budget following a presentation from district finance staff on revenues, expenditures and fund balances. "Tax payments are delayed," the finance presentation said, noting that only about $1.1 million in tax receipts had been received to date and that timing and a property-tax relief grant reduced early-year receipts. The presentation said revenue timing had caused a dip in fund balances, and staff proposed transferring working cash from the bond fund to capital projects to cover near-term capital needs. The finance update listed the major budgetary factors: a projected drop in real-estate tax revenue resulting from payment timing and abatement; a projected decline in one-time grant revenues; higher transportation and insurance costs; and roughly a 5% average salary increase. Staff described a budgeting approach that includes conservative estimates and the use of reserves where necessary; they said the district still projects a modest surplus in the noncapital funds. The board opened a public hearing on the budget before the vote; no members of the public spoke, and the hearing was closed. The board then approved the budget on a roll-call vote; all members present voted yes. The vote followed the consent agenda approvals, which included personnel changes, minutes and other routine items. The board also approved a second reading and adoption of several revised board policies recommended by the Illinois Association of School Boards. The budget adoption advances the district's financial plan for fiscal 2026; staff said they will continue to monitor revenue timing and adjust cash transfers as necessary. "We are expecting to receive all the revenues still," the finance presentation stated, while cautioning that some federal grants have expired and will reduce next year's grant revenue.