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U-46 financial update: December deficits tied to Cook County tax delays; board approves bills
Summary
District finance staff reported a December deficit and year-to-date shortfall driven in part by delayed Cook County property tax receipts; the board approved the list of bills (administration recommended $27,536,764.88) despite a garbled dollar figure being read into the record during the motion.
School District U-46’s finance staff reported to the board on Feb. 9 that December ended with a sizable monthly deficit and a year-to-date shortfall, primarily attributable to delayed property tax disbursements from Cook County and planned capital spending.
Robin Cornelison, executive director of financial services, said December ended with a deficit of about $27.1 million and that year-to-date actuals showed a deficit of about $74.3 million. Cornelison attributed much of the year-over-year variance…
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