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District 99 financial update: revenues steady, five‑year projection keeps fund balance above board target
Summary
District finance staff reported revenues about 90% collected midyear, transportation and tuition lines under observation, and a five‑year projection that keeps the ending fund balance above the board’s target of 5%; replacement taxes remain uncertain and a field‑house floor replacement was flagged as a future capital expense.
Finance staff summarized the district’s midyear financial position and a five‑year projection, reporting steady revenues and a fund balance expected to remain above the district’s target.
A staff member identified as Drew told the board the district had collected just over 90 percent of its revenues midyear because property taxes make up the bulk of receipts. He noted replacement taxes came in lower last year and state projections had signaled a reduced amount this year; staff said they had been conservative in their estimate and expected replacement taxes could come in slightly higher than budgeted.
On expenditures, Drew said most lines are on target. The team flagged purchase‑of‑service — including transportation — and tuition as areas to watch. Staff reported cost‑saving measures in transportation (including coordination with Districts 58 and 68 and shared routes for students from a shelter on Butterfield Road) that could partially offset higher tuition costs for out‑of‑district placements.
The five‑year projection presented to the board keeps the ending fund balance above the district’s internal goal of 5 percent; board policy calls for a 3 percent minimum. The projection assumes flat state and federal funds, CPI‑based revenue estimates, and includes planned capital projects and textbook needs.
Staff and board members discussed one capital item noted in the memo but not included in the immediate projection: replacement of field‑house floors, estimated between $1.1 million and $1.3 million. Finance staff said roughly $300,000 is set aside now and that the district will decide over the next two years how to budget the remainder and when to bring a final project proposal to the board.
Board members and staff also described reclassification of some past repair-and-maintenance costs into a separate major capital‑outlay category to clarify what constitutes true capital projects versus routine repairs.
The board thanked the finance team for the report and had no formal action beyond discussion during the meeting.
