Board reviews treasurer and budget reports; approves several routine payments and contract closeouts

Trustees reviewed financial reports for October and approved routine financial actions during the December meeting.

The treasurer presented month-end totals: a total balance of $102,994,674.52, monthly interest income of $300,877.29 and year-to-date interest income of $1,103,046.42. The treasurer also reported that investment yields with Byline Bank were around 4.46% and noted that certain receipt categories (corporate personal property replacement tax and federal aid timing) differ from last year’s patterns.

During the budget status report, staff summarized fund-by-fund activity: education fund local revenues at approximately 47.23% (about $25 million), investment income trending higher, federal aid down ~17.8% YTD, and capital outlay timing contributing to year-over-year variance. The transportation fund showed about $2.97 million in revenues (roughly 38.7% of budget) and the IMRF pension fund showed typical timing differences.

The board approved a final pay application from CW Burns Company for the hot water replacement at Addison Trail in the amount of $26,253.35; the administration reported the final adjusted contract price as $313,153.35 after a contingency credit. Trustees also approved the budget status and treasurer’s reports by roll call votes.

"This month’s interest income was $300,877.29 bringing the year-to-date interest income to $1,103,046.42," said a district staff member delivering the treasurer’s report. The board approved the recommendations presented in the financial reports and moved on to other agenda items including procurement and facilities items.