Indian Prairie presents amended budget to show referendum-funded capital work, schedules public hearing

Matt Shipley, a district business office staff member, told the Indian Prairie CUSD 204 Board of Education on Jan. 13 that the administration recommends pursuing an amended budget for fiscal year 2024–25 to reflect the district's successful November 2024 capital referendum.

The amended budget presentation shows the capital projects fund increasing projected expenditures for the current year from about $13 million to $26 million, including roughly $7 million already completed and nearly $19 million budgeted for spring and summer work, and anticipates revenue from bond issuances of about $15 million that will be deposited in the capital projects fund.

Why it matters: The amended budget traces how the referendum will be implemented and how bond proceeds and repayments will be recorded. Shipley said the presentation is intended to provide “additional transparency and accountability after our successful referendum” and to integrate referendum spending into the district’s multi‑year financial plan.

Shipley reviewed the district’s operating and nonoperating funds, noting no changes to the adopted operating budget for 2024–25. He said property taxes remain the largest revenue source (about 78% of total revenues), state funding is declining (about 13%), and federal revenue represents about 3% of total revenue. He indicated the district projects an operating surplus of about $221,000 and a year‑end fund balance near 39% of revenues.

On the nonoperating side, Shipley said bond and interest fund numbers for the current year show no change because the first debt service payment on the authorized bond issue will fall in the next fiscal year. The bond issue authorized after the referendum was sold at about a 2.92% interest rate, he said.

The capital projects fund shows the largest changes: planned expenditures for 2024–25 rise to about $26 million, with an expected near‑term bond issuance depositing just under $15 million into the fund. Shipley said roughly $7 million of the work is already complete and about $19 million remains to be done in the spring and summer. He listed project priorities for summer 2025 that align with the district master facility plan: roughly $10 million for safety and security work (including secure vestibules and exterior door replacement at 10 elementary schools), infrastructure work (flooring, asphalt/paving, selected roofing), learning‑environment improvements (playgrounds and classroom work), targeted improvements at Neuqua Valley High School for an expanded FACS lab, and auditorium and other work at Waubonsee Valley High School. Shipley also cited LED lighting and HVAC projects intended to improve energy efficiency.

Board members asked for timing and contingency details. Shipley said the district expects to complete a majority of the summer work while students are out of session but acknowledged some projects—such as LED lighting and projects affected by supply chain constraints—may continue into the fall or be performed during off hours. He said the district built contingencies into project planning and financing, and noted that issuing bonds in phases provides flexibility and some interest cost savings. He also said the district expects to issue multiple bond series over several years rather than a single large issue.

Shipley said the amended budget is posted on the district website and that a required public hearing on the amended budget is scheduled for the Feb. 24, 2025 Board of Education meeting, at least 30 days after the Jan. 13 presentation.

Board members reiterated that the referendum did not raise the district’s tax rate and thanked staff for planning and project management.

Ending: The administration will post the amended budget for public inspection and present the required public hearing on Feb. 24; board and staff said they will continue to update the public through the district’s master facility plan webpages and board meetings.