Berkeley SD 87 board reviews fund balances, authorizes budget work and approves insurance and utility authorizations
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Summary
Finance staff presented fund-balance analysis referencing Public Act 103.0394; the board authorized preparation of the 2026–27 tentative budget, authorized offering student accident insurance, approved authorization to lock utility rates between meetings, and carried routine motions including minutes and personnel approvals.
Finance staff presented an executive summary of the district’s fund balances, explaining classifications, legal restrictions and the calculation method. Staff noted Public Act 103.0394 requires districts to evaluate reserve levels and said the district does not exceed the threshold that would require a reserve reduction plan. Presenters cited a recent Cook County tax distribution delay and said having a strategic reserve (about 103% on their internal display) helped the district meet payroll during the delay.
The board approved a series of routine and finance-related motions by roll call. Actions included approval of meeting minutes, licensed and support personnel employment and leave requests, and authorization for district leaders to prepare the tentative 2026–27 budget in compliance with the Illinois School Code. Finance staff recommended that the superintendent and assistant superintendent for finance and operations be designated to prepare the tentative budget and the board approved that designation.
Administration presented the suggested motion to authorize the district to offer student accident insurance through Zebetz, Redfield and Associates Inc. The board approved the authorization to offer the insurance for the 2026–27 school year.
Because utility pricing can be market-sensitive, finance staff asked the board to authorize the superintendent or designee to execute fixed-rate utility supply agreements between meetings when it is in the district’s best interest; any executed agreements would be returned to the board for ratification at the next regular meeting. The board approved that authorization by roll call.
Board members asked clarifying questions about how fund balances are computed, how property-tax timing and interest earnings affect the year-to-year figures, and about the timeline for distribution of Cook County tax collections and refunds. Administration said Cook County expected to resume distributions and that property-tax installments and refunds timelines would affect future distributions to the district.
The board carried the motions by roll call; the meeting packet included backup materials and spreadsheets for further review.