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Oak Park presents amended 2024–25 budget; projects $13.3 million fund balance and readies Series 3 bond sale
Summary
Dr. Charice Foster presented an amended 2024–25 budget to the Oak Park Board, reporting a revised revenue projection of $55,684,590 and a proposed general fund balance of $13,265,318 (about 23.4%).
Dr. Charice Foster presented an amended 2024–25 budget to the Oak Park Board on March 3, saying the district now projects $55,684,590 in revenue for the fiscal year and is seeking board approval of adjustments to reflect updated state and grant awards.
"I am here to come before you to ask for your approval of the amended budget for fiscal year '24–'25," Foster told the board, and then walked trustees through revenue categories, recent grant awards and changes to state funding projections.
Why it matters: Foster said the district must update its June budget because state funding amounts often arrive after the board adopts the annual budget; the state's budget typically finalizes later in the fall, so the district projects conservatively and amends later when amounts change.
Key figures and changes presented - Original budget revenue adopted in June: $57,953,950. - Amended revenue projection presented March 3: $55,684,590 (presented by Dr. Charice Foster). -…
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