Treasurer and finance update: District reports $97 million balance, flags falling interest income and lower state proration for SPED transport
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Summary
Treasurer reported a month-ending balance of $97,027,016.08 and described a laddered investment strategy; finance staff warned that state proration of special-education transportation reimbursements fell from 69% to 60%, creating local budget pressure.
The district's treasurer reported a total balance of $97,027,016.08 for the month ending Nov. 30, 2025, and described a laddered investment strategy that included $24,660,500 in T-bills and certificates of deposit. The report noted interest income for the month of $157,681 and year-to-date interest income of $1,260,727.42, down from the previous year.
During the budget status presentation, finance staff reviewed revenue and expenditure trends for the education, operations and maintenance, and transportation funds. Notably, the Illinois State Board of Education's proration for special-education categorical reimbursements declined from 69% in the prior year to 60% for fiscal year 2026, the presenter said, and staff warned that lower state reimbursements will require districts to use more local funds to cover mandated services.
Board members discussed the transportation fund's recovery plan; staff said the district has levied additional funds and is attempting to rebuild that fund after previous spending. The budget status report was moved, seconded, and approved by roll call, with one recorded 'no' vote from a board member on the motion recorded in the transcript.