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District approves final FY26 budget, authorizes up to $25 million in tax‑anticipation warrants amid Cook County tax‑bill delay
Summary
District 15 presented a reduced FY26 deficit, approved short‑term borrowing of up to $25 million to cover delayed property‑tax receipts, and authorized an internal loan from the education fund to the transportation fund to bridge cash‑flow pressure.
District 15 officials presented a final fiscal 2026 budget that reduced an earlier projected operating deficit and asked the board to authorize short‑term borrowing after Cook County delayed mailing property tax bills.
Chief School Business Official Diana McCluskey and Director of Fiscal Services Anthony Fashoto told the board that Cook County’s delay in sending tax bills has created uncertainty in the district’s cash flow and that the district plans to issue tax‑anticipation warrants (short‑term borrowing) of up to $25 million. The proposed split was $20 million for the education (operating) fund and $5 million for the bond and interest fund; the board…
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