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Board adopts FY2025-26 budget after debate over benefits, taxes and reserves
Summary
The Board of Education adopted the fiscal year 2025–26 budget after lengthy discussion of health insurance renewals, state funding formulas and fund balances; the measure passed 6–1.
The Board of Education of District 428 adopted the fiscal year 2025–26 budget as presented after a roll-call vote that concluded 6–1. The board held extended discussion on health benefit renewals, state funding changes and the district's fund balance before voting to adopt the budget required for the coming year.
Board members and district finance staff described the adopted document as a one-year financial plan based on current estimates and accounting rules. A district staff member summarized that the budget records revenue and expenses on a modified-accrual basis and must be adopted by the board so it can be made available for public inspection and filed with county and state authorities.
The budget discussion centered on several revenue and expenditure items: the evidence-based funding (EBF) formula from the state, a larger-than-expected Corporate Personal Property Replacement Tax…
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