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District 100 finance director reports $65.7 million cash balance, previews tentative FY26 budget
Summary
Finance staff reported a $65.7 million bank balance, summarized fiscal-year 2025 revenues and expenses, and outlined the timeline for the tentative fiscal‑year 2026 budget and public notice.
District 100 finance staff told the board on July 23 the district’s bank balance is $65.7 million and reviewed year‑end revenue and expense totals as the district prepares a tentative FY26 budget for public notice. Jenny (finance director) said revenues for the month were about $463,000 and that state aid and tax receipts are delayed over the summer; state aid payments were expected to begin in August and tax receipts were likely to start in the fall.
Why this matters: the tentative budget will determine staffing and program funding for the coming school year and must be publicly posted and finalized under state rules. Jenny told the board the tentative FY26 budget was on the meeting agenda for approval, will be published via a legal notice in the Suburban Life, placed on public display at the La Verne Education Center for a minimum of 30 days, and the final budget will be approved in September and submitted to the state, county and regional office of education.
Staff reported fiscal‑year 2025 totals: overall revenue for FY2025 of $67.2 million (99.39% of budget) and year‑to‑date expenses of $66.1 million (99.12% of budget). June revenue for the month was $4.6 million and June expenses $7.8 million; the year‑end fund balance was reported at $64.6 million. Jenny said the FY26 projection shows a $5.9 million positive position before a planned fund transfer; the district planned a fund transfer from reserves and is monitoring state and federal funding changes.
The staff also reviewed grant timelines: Title I, II and IV and early childhood grants ended June 30; Title III extends to Aug. 30. CARES‑funded items are being removed from the budget as CARES funds sunset. Jenny said the district ended FY25 about $1.1 million “in the positive” for year-end. Board members asked follow-up questions about where the public notice will run (Suburban Life) and how the district posts notices; staff said the paper still publishes notices in print and that legislation may soon allow posting on district websites.
No formal vote on the final FY26 budget was recorded during the meeting; staff asked the board to approve the tentative budget on the agenda and described the statutory public‑notice and adoption timeline.
