Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
DuPage HSD 88 opens public hearing on up to $4 million working‑cash bonds; board approves early tax accounting and transfer to capital projects
Summary
The board opened and closed a public hearing on the intent to issue working‑cash fund bonds of up to $4 million, heard staff explain the purpose (facility improvements and bus replacements), and approved an early‑tax resolution and a $2,360,641 transfer from the working‑cash fund to the capital projects fund to cover summer 2025 projects.
The DuPage High School District 88 Board of Education opened a public hearing on its intent to issue working‑cash fund bonds not to exceed $4,000,000 and then closed the hearing after taking no public comments.
District staff said the working‑cash bonds are typically issued every three to four years to move cash into the capital projects fund for building improvements, bus and vehicle fleet replacement, driver education needs and buildings‑and‑grounds equipment.
After the hearing, the board unanimously approved a resolution designating early property‑tax collections distributed by the DuPage County treasurer as resources for fiscal year 2025–26 (so those early receipts will not be reported as available resources for the fiscal year ending June 30, 2025). The board then approved a resolution transferring $2,360,641 from the working‑cash fund to the capital projects fund to cover accrued liabilities for summer 2025 facility projects. The district noted the transfer is scheduled for June 17 to avoid a deficit in the capital projects fund for the current fiscal year.
Board members had no public comments during the hearing and asked no substantive follow‑up questions after staff explained the routine nature of the transaction and its use to smooth cash flow for capital work.
All motions related to the hearing, the tax‑timing resolution and the transfer were approved by roll call.
