Palatine District 15 presents FY26 tentative budget showing $7.2 million shortfall, fund balance projected to fall to ~25%

Palatine CCSD 15 officials on Wednesday presented a tentative FY26 budget that projects operating revenues near $162 million but still anticipates a roughly $7.2 million deficit, with the district’s unrestricted fund balance forecast to fall toward about 25% of expenditures if no further adjustments are made. Diana McCluskey, the district’s chief school business official, and Anthony Fashoda, director of finance, outlined revenue assumptions, several one-time and ongoing changes, and the accounting transfers the administration proposes ahead of a final budget vote this fall.

McCluskey told the board that local property taxes remain the district’s largest revenue source and that the district expects “about $9.5 million” in additional property tax receipts tied to recent assessment trends and CPI adjustments, and that the downtown TIF will contribute roughly $2.7 million in FY26. She…