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Lake Forest board hears midyear financial report; officials warn local salary budget will be adjusted
Summary
Board received a December midyear financial report showing local current-expense tax receipts at 92%, discretionary funds received at 91%, and local salary budget remaining at about 47%; administration said it will present a final adjusted budget at the next meeting to account for new hires.
The Lake Forest Board of Education received its midyear financial report on Jan. 8 and was told the district is "exactly halfway into the fiscal year," with some revenue adjustments and planned budget shifts ahead.
Mister Kirk Hellman, who presented the report, said December brings final state unit-count allocations and that the district is seeing anticipated receipts of about $565,000 for division 2 "all other costs." He told trustees local current-expense tax receipts are at 92% of projections — down from 96% at the same point last year — and that all discretionary funds received stand at 91%.
Hellman flagged payroll-related lines for attention. "On the first page of the expenditure report," he said, "division 3 local salaries shows 47% budget remaining," compared with roughly 49% at this point last year. He said the department will present a "final adjusted budget" at the next board meeting to account for additional hires and newly created positions, including roles the board recently approved and positions not yet filled.
Board members sought clarity on whether the upcoming salary adjustment would include positions already approved but not yet staffed; Hellman confirmed the revisions will reflect both filled and newly established positions.
The report also noted district charter-choice enrollment figures briefly reflected nearly $13,000 over budget because payments from other districts had not yet posted; Hellman said he expects that line to return toward the budgeted figure once transfers arrive. He described minor capital improvements as an area of substantial activity, with about 32% of that budget remaining.
Administrators also reviewed calendar and district communications items: schools are scheduled to resume on time after recent weather delays, the second marking period ends Jan. 23 and report cards are expected on Jan. 30. The district will close Jan. 19 for Martin Luther King Day and Jan. 26 for staff professional learning.
The board voted 5-0 to accept the financial report as Resolution 12.1.
What happens next: staff will prepare and present a final adjusted budget at the next board meeting to reflect the updated salary and staffing picture.
