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District 155 reports $75.8 million year‑end fund balance; board approves $12.9 million in bills and opens budget notice
Summary
Assistant Superintendent of Finance and Operations Kevin Ward reported the district closed the fiscal year with $75,800,000 in fund balances and $3,900,000 in investment income, and the board approved $12,900,000 in bills and a budget notice required by the Illinois School Code.
Assistant Superintendent of Finance and Operations Kevin Ward told the District 155 Board of Education the district closed the fiscal year with fund balances of $75,800,000 and that the district’s investment portfolio “earned $3,900,000 this past year.” He also said the district’s property, casualty and workers’ compensation premiums rose only about 1.7% compared with pool increases up to 15%, crediting the district’s loss‑control efforts for roughly $65,000 in savings.
Ward said overall revenues came in at 100% of budget and expenditures were 97% of budget, which he described as largely due to higher interest income and timing differences tied to summer projects. “The overall coverage ratio of 47% is up 2% from the prior year and remains compliant with board policy 4:20,” he said.
Following Ward’s report the board approved a motion to pay board bills totaling $12,900,000 for the June 11–July 2 period after a motion and roll‑call vote. Ward had asked the board to approve the bills, which he broke down as roughly $6,900,000 for payroll‑related items and $6,000,000 for vendor payments.
The board also voted to adopt a resolution authorizing notice of availability for public inspection and notice of a public hearing on the tentative annual budget for fiscal year 2025–26. Ward told the board that “this action is required by Illinois School Code” and that budget assumptions will continue to be refined before the September public hearing.
Separately, the board approved a swim‑pool rental agreement with Sage YMCA for both swim seasons at a combined cost of $68,000; Ward said the rate increases have averaged less than 2% per year since the district entered the partnership in 2021 and the amount is included in the tentative budget.
No changes to the formal motions were recorded beyond the roll‑call approvals. The items were discussed in finance committee earlier, and Ward noted that the district’s investment strategy and short‑term rates helped lift investment earnings compared with prior years.
The board’s formal actions recorded in the meeting packet included the bill payments, the budget resolution and the pool agreement; Ward said the district remains compliant with board policies cited during the presentation and will continue to update budget assumptions with state and federal information ahead of the public hearing in September.
