Community High School District 128 adopts $119 million FY26 budget, approves audit and other finance actions
Get AI-powered insights, summaries, and transcripts
Sign Up Free
Summary
The CHSD 128 Board of Education on June 23 adopted a $119 million fiscal year 2026 budget and approved several related financial actions, including a $62,500 audit engagement, transfers of dormant student-activity funds and reaffirmation of authorized depositories.
Community High School District 128’s Board of Education adopted its fiscal year 2026 budget and approved multiple finance-related items during its June 23 meeting.
The board voted to adopt a $119,000,000 total budget for FY26, with an operating budget of about $109,000,000 and roughly $9,600,000 earmarked as a placeholder for capital projects. Dan (district staff member) summarized those figures, saying, “The total budget is 119,000,000. The operating budget is 109, so we have about 9,600,000.0 in there, for capital projects.”
The board also approved an audit engagement with Miller Cooper for fiscal year 2025 in the amount of $62,500. Dan told the board the engagement includes a single audit because of the district’s federal revenue level and other reporting requirements.
Other finance actions approved by roll call vote included: - Transfer of funds from unused student-activity accounts into active club accounts, per Illinois administrative code; the board approved the list presented by staff. - Reaffirmation of the district’s authorized depositories and investment managers—Libertyville Bank and Trust, Pima Financial Network, and Fifth Third Securities—to continue handling checking, investing, and long-term investments. - Approval of the Illinois Association of School Boards annual membership dues for 2025–26 in the amount of $10,727.
Board members also cleared several personnel items that were not part of the consent agenda and approved three educational-tour requests submitted after committee review. All motions passed on roll call votes.
At the meeting the district presented an operational funds expenditure report required by a new state law that asks districts to calculate fund-balance ratios; Dan said the district is not near the 2.5-times threshold and therefore does not need to develop a reduction plan at this time.
Actions and votes recorded in the meeting packet show the budget adoption motion passed with board members voting in favor and one absence recorded; the audit engagement and other finance motions passed by roll call as presented.