The District 200 Board of Education approved its final fiscal year 2026 budget at its Sept. 10 meeting, adopting a plan the administration said keeps operating funds balanced while accommodating transfers to capital projects tied to the district’s middle-school referendum. The board approved the resolution by roll call after a presentation and questions from members.

The budget, presented to the board by Dr. O'Keefe and staff, shows roughly $2.23 million in operating revenues and an operating balance of about $9.1 million before planned transfers into capital work. Brian O'Keefe and district staff said about $7.0 million of that balance is expected to be invested in ongoing capital work this year, leaving an estimated $2.0 million in operating surplus pending receipt of a potential TIF surplus disbursement from the City of Wheaton.

Why it matters: The board’s adoption completes a months-long process that began with a tentative budget, included a public hearing, and reflects updated state and local revenue projections. The budget contains assumptions about state reimbursements, local tax levies and project-related transfers; these assumptions determine whether operating reserves remain within the board’s 25–40% fund-balance target.

District staff told the board several revenue items changed modestly between the tentative and final budgets. Final evidence-based funding numbers increased by about $224,000 compared with the tentative budget, and corporate replacement tax projections added roughly $100,000. The largest unknown the administration flagged was state proration on reimbursements for special and vocational education; staff built estimated proration in the “low 70s” for regular and vocational and “low 60s” for special education into the budget, which added roughly $1.5 million to expected local funding needs compared with the tentative figures.

Dr. O'Keefe said the district’s most recent audited data show a fund balance “a little bit over 31 percent,” and that he expected the fiscal‑25 AFR (annual financial report) to place the district near 29–30 percent under the adopted plan. “We are cognizant that the range is 25 to 40% and have begun talking about how specifically we just do our best to make sure that we're in that mid range,” he said.

The budget also reflects district capital activity tied to the voter‑approved referendum. Staff noted the operating funds do not include the full capital-project cash flows: the district is transferring operating fund dollars to the capital project fund to pay for ongoing middle-school construction; much of the capital revenue already sits as cash from prior issuances and will be spent across the capital schedule. The administration reiterated that those capital transfers are dollar-for-dollar expectations tied to previously approved Sherman Durgis methodology and prior debt issuances.

Board members asked about the timing and uses of interest earnings on debt proceeds and about safeguards in place to avoid using operating balances to fund ongoing operations. Dr. O'Keefe and Brian O'Keefe said any unused contingency or owner allowances on earlier issuances would reduce the overall capital spend; they also explained limits on the use of debt-service fund balances and how arbitrage and interest rules constrain allowable uses of earnings.

The board voted to adopt the final fiscal 2026 budget on a roll call motion moved by board member Mister Jerpi and seconded by board member Miss Evison; the members recorded affirmative votes during the roll call and the resolution carried.

The district administration said the next finance steps will include the November presentation of the '25 tax levy and the continued work on a parameters resolution tied to the next debt issuance for remaining referendum work.