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District reports $193.9 million in cash and investments; operating funds at $46.6 million
Summary
At the July 21 meeting, District 186’s business office reported June 2025 revenues and expenditures and a combined cash and investment balance of $193.9 million, with operating funds totaling $46.6 million. Preliminary spending rate for FY25 is projected near 96%.
SPRINGFIELD, Ill. — The Springfield Public Schools District 186 business office presented its June 2025 monthly report on July 21, reporting the district’s cash, investments, revenue and expenditure figures and preliminary fiscal-year spending projections.
The business report showed Education Fund (Ed Fund) revenues of $38,600,000 and Ed Fund expenditures of $14,600,000 for June, with revenues exceeding expenditures by $24,000,000. The Operations & Maintenance Fund reported $5,900,000 in revenues and $1,400,000 in expenditures.
As of June 30, the district reported a combined cash balance of $80,400,000 across all bank accounts and total investments of $113,500,000, yielding a combined cash-and-investment total of $193,900,000. For operating funds only (Ed Fund, O&M, transportation and working cash), the balance was $46,600,000.
Year-to-date interest on cash accounts for June was reported as just over $1,900,000, at an interest rate of about 2.5% (250 basis points). County sales tax proceeds received during June were reported as $1,100,000 for the March collection period; total sales-tax collections since February 2019 were reported as $70,700,000. The presenter noted the district’s sales tax proceeds are restricted for use on property, buildings and capital projects.
The report compared FY25 spending to a two-year average. The Ed Fund was at 89.2% of budgeted revenues for June, compared with a two-year average of 90.73%. The business office cautioned that post-year expenditures (bills incurred in FY25 but paid after June 30) will continue through August; preliminary projections expect final FY25 spending closer to 96% of the budget.
The presenter said a composite that included O&M and transportation was at 88.87% compared with a two-year average of 92.8% and reiterated that the district will not know final actuals until September when post-year processing is complete.
Why it matters: The business report gives the board and public a snapshot of the district’s liquidity, investment position and spending patterns as the fiscal year closed, and it frames the district’s ability to fund operations and capital work into the next year.
What was said and what happens next: The business office will continue to pay FY25 obligations through August and produce final reconciled numbers in September; preliminary projections have been shared with the board for planning purposes.
