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Naperville 203 audit clean, but five‑year forecast warns of growing deficit; board asks for options
Summary
Independent auditors gave Naperville CUSD 203 an unmodified opinion and the district a top ISBE financial profile, but the administration’s five‑year forecast shows a structural deficit (projected FY27 gap ~$12.5M). The board asked administration to return with options and timelines to restore balance.
Independent auditors presented an unmodified opinion on Naperville Community Unit School District 203’s fiscal 2025 financial statements and a highest‑level ISBE financial profile during the school board’s Nov. 17 meeting.
Audit partner Matt Baron said the audit produced an "unmodified opinion," meaning the financial statements are materially correct. He reported operating fund balances of about $93 million — roughly 37% of operating expenses — and noted roughly $40 million earmarked for future capital projects. "No internal control findings" were identified in the audit walkthrough, Baron added during his summary of the audit and management letter.
The board then turned to the administration’s updated five‑year financial forecast, which projects a…
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