Lincoln Way approves up to $31.33 million life‑safety bond; board also signs off on invoices and monthly financial reports

The Lincoln Way Community High School District 210 Board of Education on April 17 approved a parameters resolution authorizing the issuance of up to $31,330,000 in general obligation school bonds (Series 2025B) to fund facility renovations and safety, energy‑conservation and security projects, and also voted unanimously to approve invoices and the district's March financial reports. The board additionally awarded two landscape service contracts and reviewed student activity fund balances and cash flow projections. "This vote is unanimous. Motion passes," Board President Aaron Janek said after the bond vote. The resolution authorizes the levy of a direct annual tax sufficient to pay principal and interest and directs staff to move forward with a sale expected to have bids due May 5 and a closing in early June. The board heard from district financial advisers and staff that market volatility and an anticipated Standard & Poor's rating update next week factored into the timing; the district said the parameters resolution includes flexibility on method and timing of sale. The treasurer reported March operating revenues of $3,100,000, expenses of $10,500,000 and a cash balance of about $24,600,000; year‑to‑date operating revenue receipts are 55.6% of budget and operating spending 73.5% of budget. The treasurer noted medical claims and special education transport costs are being monitored and that some cash variance (about $300,000) resulted from the timing of capital project invoices. "Overall, I feel good about where we're at," the treasurer said during the report. The board approved invoices totaling $4,229,708.74 by unanimous vote. On procurement, the board accepted a split award for districtwide landscape services, recommending Carefree and Berry to cover central/east and west/transportation sites respectively; staff said the three‑year cumulative cost under the recommended awards is about $518,490 versus $537,000 under the prior contract. The student activities report showed an ending fund balance of $2,166,960 for the period ending March 31, 2025, with revenues of $393,036 and expenditures of $335,911; board materials noted four accounts were negative at printing but three already had been covered and yearbook revenues are expected to address the remaining shortfall. The board indicated proceeds from the bond sale would be available before the fiscal year end and that staff expect to use proceeds for engineering, design and contractor payments in the coming months. Board members and staff said they will monitor interest‑rate movement and the S&P rating report due Tuesday to determine final sale timing and pricing.