Board reviews tentative amended 2024–25 district budget; staff to return for final adoption in June

Arlington Heights School District 25 staff presented a tentative amended 2024–25 budget for board review on April 22; the board received the information and staff said they expect to bring the amended budget back for formal adoption at the June meeting.

Finance staff explained several drivers behind the proposed amendments: an administrative change in the capital asset threshold (raising the district threshold from $500 to $5,000 to align with typical auditing standards), accounting entries related to bond proceeds sold at a premium, and an increase to the utilities budget in response to higher natural gas and energy prices and a supplier change. Finance staff characterized the increases as a conservative buffer to avoid exceeding the fund balance in Fund 20 but said the district does not expect to expend the full contingency.

Why it matters: The amended budget changes classifications and adds near‑term contingency for utilities; those entries affect state reporting and internal fund balances. District staff noted a statutory requirement to allow at least 30 days between the presentation of a tentative amended budget and its adoption, which sets the June timeline for final board action.

Next steps: The business office will return a proposed final amended budget for board action in June following the required notice period. Staff said they will continue to refine estimates and report budget variances as the fiscal year closes.

Ending: The item was informational. The board did not take action on the amended budget at the April meeting and will vote after the mandatory notice period.