Business office: audit in progress; tentative budget set for Aug. 11 and final approval in September

Greg Harris, the district’s business official, told the Board on July 14 that auditors were on site and are reconciling modified-cash accounting entries that will affect the district’s fiscal 2025 closing numbers. Harris said auditors may reclassify revenues and expenses between fiscal years — for example, professional-development prepayments or categorical revenues received in July but attributable to June — and that those reconciliations mean the board will not receive a final 2025 fund-balance figure until the audit is complete. The business office plans to present a tentative fiscal-2026 budget at the Board’s Aug. 11 meeting; the district’s final budget approval is scheduled for the regular September meeting on Sept. 8. Harris noted Illinois school districts are permitted to adopt budgets by Sept. 30 and described ongoing work to produce revenue and expenditure forecasts for the coming year. Why this matters: the audit affects the district’s reported year-end fund balance and the board’s view of reserves ahead of budget-setting; the August and September timeline sets the formal decision points for next year’s appropriations. What’s next: administration will present the tentative budget Aug. 11 and seek final approval at the Sept. 8 meeting after audit adjustments are complete.