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District 207 projects $4.2 million midyear surplus, flags tax and benefit variances
Summary
Board received a midyear financial update showing a projected $4.2 million surplus driven by investment income, savings from unfilled positions and lower transportation activity; staff flagged a $1 million projected shortfall in personal property and investment taxes and higher benefit costs.
District 207 staff told the board March 3 that the district now projects a $4.2 million midyear surplus, citing stabilizing market values on investments, unfilled positions and lower-than-budgeted transportation activity.
The report said personal property and investment tax collections are projected to be about $1,000,000 less than budgeted following declines connected to the post-COVID market. Investment income has improved and will partially offset the lower tax revenue, staff said.
The presentati…
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