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District 186 reports $125.8 million in capital funds; flags possible loss in transportation reimbursement
Summary
District finance staff reported a $125.8 million ending balance in capital funds, $359,704.64 in outstanding state payments and warned the May state budget could reduce transportation reimbursement by about 10%, potentially costing $1.5–2 million.
Mr. Miller presented the district's business report to the Springfield Public Schools District 186 Board of Education on May 5, 2025, saying outstanding state payments for fiscal 2025 totaled $359,704.64 as of May 29, 2025, and the district’s capital projects investment fund had an ending balance of $125,830,781.03 as of April 30, 2025.
Miller reported the district received $85,938,850.99 in 2025 alternate revenue bond proceeds and $1,051,898 in April sales tax receipts; since 2019, the district has collected $68,494,405 in sales tax. He said the capital funds are being used for ongoing building construction and reminded the board that bond draws and expenses during the period totaled $6,156,570.
On state funding, Miller told the board the district expects to be level‑funded for Evidence Based Funding (EBF) and to receive an additional $1,000,000 from that stream. He also warned that mandated categorical reimbursements—particularly transportation—are likely to be reduced by about 10 percent under the new state budget, which he estimated could translate into a $1.5 million to $2 million drop in revenue for the district.
Miller said the district had $10,396,589 in its CFST savings account on April 30 and was able to make the June bond payment. He said the next two bond payments total $12,520,963 and that the June payment was reflected in subsequent sales tax reporting.
Board members asked questions about the state budget implications; Miller described the points above but did not present a final fiscal projection. The item was a business report for information; no motion or formal board action was taken on those budget items during the meeting.
