Grayslake CCSD 46 adopts FY25–26 budget; board hears $17 million first bond issuance plan

The Grayslake Community Consolidated School District 46 Board of Education on Wednesday approved the district's final fiscal year 2025'26 budget and heard details of a long-range facilities plan and a proposed three-issuance financing strategy beginning with about $17 million.

Chris Wildman, the district's finance presenter, told the board the budget shows a $1.7 million operating surplus after staff reclassified the timing of fund transfers and recorded items in the correct fiscal year. "This shift is not due to new revenues but to the timing of fund transfers and accounting for money that was already available in the debt service fund," Wildman said.

Wildman walked trustees through the budget development timeline, revenue drivers and expenditure priorities, saying the district kept an operating fund balance target of 25% to 30%. He described the district's operating funds (education/working cash) and non-operating funds (debt service, capital) and said the all-funds deficit in the final budget reflects planned capital spending and debt payments rather than an operating shortfall.