Kaneland board approves $1 million transfer to cover operations-and-maintenance deficit
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Summary
At its regular meeting the Kaneland CUSD 302 Board of Education approved a permanent $1,000,000 transfer from the working cash fund to the operations & maintenance fund to eliminate a June 30 O&M deficit and provide a buffer for facility needs.
Kaneland CUSD 302’s Board of Education voted unanimously to transfer $1,000,000 from the district’s working cash fund into the operations and maintenance (O&M) fund to address a year‑end shortfall and create a buffer for near‑term facility needs.
Dr. Bogan, who presented the proposal during a public hearing, said, "As of June 30, the O and M Fund had a negative balance of just over $307,000, while the working cash fund had a balance of just over 2,300,000.0. I'm recommending a permanent transfer of $1,000,000 from working cash to operations and maintenance." He said auditors at Lauderbach and Amman had been consulted and that the transfer follows Illinois law that the district not end the fiscal year with a deficit.
The move will bring the O&M fund back to positive standing and provide a margin for anticipated facility projects. Dr. Bogan said the district will closely monitor expenditures and is beginning multi‑year planning — including aligning larger facility projects with referendum‑funded construction and preparing five‑, ten‑ and 15‑year maintenance plans — to reduce the chance of future shortfalls.
Board members moved and seconded the resolution immediately after the hearing. A roll‑call vote recorded all seven members in favor; the motion carried 7–0.
The action was described as a permanent transfer; the board did not attach additional conditions in the motion. The district said it will continue work with auditors and present any necessary follow‑up in future meetings.
