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Oak Park D97 presents balanced tentative FY25 budget; district relies heavily on local property tax revenue
Summary
District finance staff presented a tentative FY25 budget the board will vote on in September, reporting a balanced tentative budget, about 123 days cash on hand (~4 months), roughly $6.6 million invested in FY24 facilities work, and major revenue reliance on local property taxes (~78%).
Assistant Superintendent for Finance and Operations Sheila Johnson and consultant Rock/Rob Grossi presented Oak Park Elementary School District 97’s tentative fiscal 2025 budget on Aug. 13 and outlined the timeline leading to final board action in September.
Key figures and drivers. Staff reported an unaudited FY24 close that achieved the board-approved balanced budget and noted about $6.6 million invested in facilities during the fiscal year—projects that produced timing and invoice delays. The district reported roughly 123 days of cash on hand (about four months), which aligns with board policy 4.12 that targets a sustained fund balance between 25% and 50% of operating cash flow.
Revenue composition and risks. Presenters said roughly 78% of district revenue comes from local real estate taxes, leaving limited upside from state or federal sources. The consultants also highlighted the impact of recent corrections to corporate personal property replacement taxes, which reduced that revenue source materially for many Illinois districts; Oak Park received about $5,000 from a recent evidence-based funding distribution cited in the presentation.
Expenditure pressures. The presenters flagged collective bargaining, capital projects and inflationary pressures (particularly labor-intensive costs such as transportation and special education) as major expenditure drivers. The tentative budget projects a slight increase in fund balance to about 4½ months at year end, keeping the district mid-range of its policy targets.
What’s next. The board will receive the tentative budget for public display and will be asked to approve the final FY25 budget at the September meeting; the levy process will begin in October with preliminary levy presentation in November and final adoption in December.
