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DuPage HSD 88 reports $89.5 million cash balance; district staff flag rising facilities costs
Summary
Treasurer presented month-ending Dec. 31, 2024 figures showing a general fund balance near $89.5 million, strong interest income year to date, and rising operations and maintenance costs driven by utilities and repairs.
A district staff member presenting the treasurer’s report told the DuPage High School District 88 Board of Education on Feb. 3 that the district had $89,499,850.68 on hand at month end Dec. 31, 2024 and that December interest income totaled $344,273.71, bringing year-to-date interest to $2,237,869.66.
The presenter said local revenues in the education fund were at 48.41% of budget (about $25 million), interest income in that fund exceeded $1.4 million year to date, and a la carte food sales were $292,000 (67% of budget). State aid collections were reported at roughly $3.3 million (44.1% of budget), and federal receipts were about $2,760,000 (about 81% of budget). On the expenditure side, overall spending trended slightly down year over year; salaries were down 0.42% while benefits rose 0.65%.
The presenter told the board that the operations and maintenance (O&M) fund showed 48.8% of expected revenues (about $3.95 million) with investment income at 66% of budget. However, O&M expenses were increasing — utilities and purchased services were up 13.89% year over year and supplies up 10.47% — citing work at Willowbrook including infield replacement, boiler repairs and a failed cafeteria freezer that required a new compressor.
Transportation fund receipts were reported at about $2.78 million (37.7% of budget), down roughly 7.2% from the prior year; fuel supplies were down 3.9% year over year. The IMRF pension fund showed revenue of about $1,190,000 (52.8% of budget) and expenses of roughly $966,004.84 (43.5% of budget).
Board members moved and approved the treasurer’s report and the December budget status report by roll call. The presenting staff member said district staff will continue to monitor O&M purchase services and supplies lines closely as pressures on utilities and repairs continue.
