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Proviso 209 finance staff outline referendum, life-safety and nonreferendum borrowing options and set tentative June timeline for FY26 budget
Summary
District finance staff briefed the committee of the whole on capital-funding options — including referendum bonds, life-safety bonds and nonreferendum bonds — and said the tentative FY26 budget will be presented in June for public display ahead of the statutory September adoption deadline.
Finance staff presented a high-level overview of capital funding options for Proviso Township High Schools District 209, explaining referendum bonds, life-safety borrowing, nonreferendum bonds tied to debt-service-extension limits, and a nonborrowed fund-balance contribution alternative. The briefing was delivered as part of a committee of the whole discussion about long-range capital priorities.
The finance presentation summarized four funding approaches: use of fund balances/operating budget (nonborrowed); a referendum bond asking voters to approve debt; life-safety bonds tied to Illinois school building approvals; and nonreferendum bonds issued…
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