Galena School Board approves a series of fund transfers tied to $31 million high-school project; budget hearing set for Sept. 17

The Galena School Board on Wednesday approved a set of fund-transfer resolutions designed to move restricted balances into the construction account for the Galena High School (GHS) building project, and confirmed a tentative public hearing date for the district's FY26 budget.

Board members and staff said the GHS construction project totals about $31,000,000, of which $14.2 million "is from a voter supported referendum," according to the finance presentation. The transfers are intended to reallocate restricted funds into the capital projects account so the district can complete construction work scheduled as part of the high-school project.

At a public hearing that preceded the votes, a finance presenter explained that Illinois school finance rules restrict direct moves between some funds and that a series of transfers is required (for example, moving money from transportation into education, and then into construction). The board later took roll-call votes on four resolutions that implemented that plan.

Resolutions and votes approved during the meeting included motions to transfer (motion text as presented):

- $1,675,055 from working cash to the education fund (approved by roll call). - $752,700 from the education fund to the transportation fund (approved by roll call). - $10,606,563 to the capital projects fund for payment of capital projects or acquisition (approved by roll call). - $4,013,465 from operations and maintenance to the capital projects fund (approved by roll call).

Each resolution was moved, seconded and approved on roll call during the meeting; the board recorded the votes as carried during the session.

Finance staff also told the board the district expects renewable-energy tax credits related to the project's geothermal system, a forecast the presenter said could bring roughly $3,000,000 into the district after construction is complete. Board members said those credits and higher-than-anticipated investment income helped make the transfers feasible without drawing down reserves.

In related business, the board confirmed Wednesday, Sept. 17, as the FY26 tentative-budget hearing date; the finance presenter said the tentative FY26 numbers reflect heavy construction spending (the presentation noted an estimated $41 million annual spend during the construction year and roughly $20 million in revenue for the same year). The hearing will be the opportunity for the public to review the detailed FY26 budget before formal adoption at a later meeting.

The public hearing and the transfer votes were held as part of a broader August meeting that included presentations, recognitions and other routine business.