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District presents tentative FY25-26 budget; board approves Frederick chiller contract and schedules temporary meeting relocation
Summary
Finance staff presented a tentative budget for fiscal year 2025-26, reviewed revenue assumptions and capital needs, and the board approved a contract for Frederick site chiller replacement. The administration warned an air-handling unit at Park Campus needs emergency replacement and recommended a follow-up proposal.
District finance staff presented the tentative fiscal year 2025-26 budget Wednesday and reviewed a timeline that will place the tentative budget on public display starting June 5, with a required public hearing and final adoption on Sept. 17 and filing with the Illinois State Board of Education by Sept. 30.
Why it matters: presenters said the district remains in a multi-year structural deficit pattern but noted the community's April referendum will add material ongoing revenue; capital repairs this summer also require near-term funding decisions.
The presentation reviewed revenue and expenditures. Finance staff reported the IMRF employer contribution rate increased to 9.34% (from 9.28) and…
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