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Kaneland board hears year-end shortfall, bond interest slightly below budget
Summary
At its July 28 meeting the Kaneland Board received a treasurer's update showing a year-end revenue-to-expenditure shortfall and heard that a recent bond sale carried an interest rate slightly below what the district had budgeted.
The Kaneland Community Unit School District 302 Board of Education heard a year-end budget update and a brief bond-market note during its July 28 meeting at Harter Middle School. The treasurer reported the district's year-to-date revenue-to-expenditure position ended June 30 roughly $3.5 million in deficit, a smaller shortfall than an earlier estimate of $3.7–$4.0 million; the speaker said the number could still change during the upcoming audit. "I think revenue to…
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