DuPage HSD 88 board adopts amended 2024–25 budget adding TRS on‑behalf and higher capital transfer

The DuPage High School District 88 Board of Education opened and closed a public hearing and voted to adopt an amended budget for fiscal year 2024–25 that adds the state’s TRS on‑behalf contribution and increases a planned transfer to capital projects.

At the meeting the board said the amended budget reflects a $21,050,000 TRS on‑behalf contribution — a state payment the district is required to record under accounting rules — and an increase in the transfer from working cash to the capital projects fund from $2,000,000 to $2,360,641 to prefund summer 2025 projects. The board president stated the amended budget had been on public display in the business office and on the district website for at least 30 days before the hearing, and there were no public comments at the hearing.

The board moved to adopt a resolution to approve the amended annual budget for 2024–25. The motion carried on a roll call vote with those present voting yes; the clerk announced the motion passed and the public hearing was closed.

Board members and district staff described the amendment as an accounting step required under GASB standards to record the state’s TRS contribution and to reflect the final project bids that increased the capital transfer amount by $360,641. The administration noted that the net effect on fund balances is neutral for the TRS on‑behalf addition because it adds both revenue and expense entries to comply with accrual accounting.

The board’s action finalizes the district’s fiscal 2024–25 numbers ahead of summer payments and project work. The adopted amended budget will be used as the official financial plan for year‑end reporting and to authorize the prefunding of the listed capital projects.