Palatine CCSD 15 board moves to sell up to $14.2M working‑cash bonds; updates five‑year capital plan

Palatine CCSD 15's Board of Education voted at its January meeting to approve a parameters resolution authorizing the sale of not‑to‑exceed $14,200,000 in general obligation limited‑tax school bonds, series 2025, to increase the district's working cash fund.

The vote followed an extended presentation and discussion of the district's five‑year financial projection, updated capital plan and options to address a projected operating deficit. District officials said the district delivered a surplus for fiscal year 2024 and that fund balance rose from roughly 35% to about 36–37%, but that recent revenue and cost pressures pushed a forecasting shortfall that the administration has worked to reduce.

"We have turned that deficit, you know, almost completely to balance. We still have a little work to do. But we're at 27%," Superintendent Dr. Hines said, summarizing administration estimates of the fund‑balance position. The board heard that the district expects to keep its fund balance above the board's 25% target…