Board authorizes $35 million transfer to operations and maintenance for construction costs

The CCSD 62 Board of Education on Dec. 15 authorized the Maine Township treasurer to transfer $35,000,000 from the educational fund to the operations and maintenance fund to cover construction costs for the district’s full‑day kindergarten rollout.

Administration told trustees that the district practices fund‑based accounting as required by the state and that construction expenditures have been paid out of operating expenses; the transfer moves budgeted education‑fund dollars to the operations & maintenance fund to pay related bills (SEG 151–158, SEG 155–163). Staff said they budgeted conservatively, may need an additional transfer later in the fiscal year to cover residual expenses, and will route the required paperwork to the township treasurer for year‑end processing (SEG 165–171, SEG 189–191).

A motion to authorize the transfer was moved and seconded; the board took a roll call vote and the motion passed. Administration said this is an internal accounting step and that the district will continue to monitor cashflow and construction invoices as permitting work continues at several sites.

What’s next: Finance will coordinate with the township treasurer to execute the transfer before year end and will report back to the board on cash‑flow impacts as Cook County disbursement timing becomes clear.