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Urbana SD 116 previews tentative FY25 budget showing roughly $2.0M shortfall; board approves consent items and insurance renewal
Summary
The district presented a conservative tentative budget with an estimated $2,025,000 deficit pending final tax receipts, discussed one-time energy incentive proceeds and CARL refund liabilities, and the board approved routine consent items, insurance renewal and an auditor addendum.
The Urbana School District 116 Board of Education reviewed a tentative fiscal-year 2025 budget at its regular meeting and approved several routine action items, including the consent agenda, the district's insurance renewal and an addendum to the auditor contract to accommodate grant reporting.
Finance officer Carol told the board the tentative budget is conservative because the current fiscal year has not closed and some revenues (notably property-tax receipts) are still being posted. She said the district is budgeting for a deficit at this stage: "we are estimating a deficit right now of about $2,025,000," and that the final budget will be refined in September after year-end numbers are known.
Carol highlighted several assumptions and one-time items the board should note. Those included an $850,000 energy-incentive credit tied to a geothermal project at Thomas Paine (presented as one-time revenue) and the district's continued prudence in holding aside potential CARL refund liabilities (historical court settlement money) pending final resolution. She also flagged federal sequestration impacts on certain bond reimbursements and noted long-term reliance on ESSER funds has left the district facing a fiscal cliff as those federal revenues wind down.
The board approved the consent agenda (which included bills across funds, personnel items and various interfund transfers) by roll call. The insurance package covering property/casualty, workers' compensation and cyber liability was presented and approved; the district reported a mid-to-high single-digit increase in overall insurance rates but maintained a $10 million umbrella policy. An auditor addendum was also approved to add supplementary reporting required by an early-childhood grant.
Votes at a glance: the transcript records roll-call yes votes from Member Statton, Vice President Exum, President Pawlowski, Member Jones, Member Hixson and Member Langendorff on the consent agenda and later on insurance and the auditor addendum. The tentative budget itself was a first read; final approval and any adjustments are scheduled for next Tuesday (the superintendent's office will finalize details after June 30 receipts are posted).
What happens next: Administration will finalize numbers over the summer and return a revised final budget in September; the board will take the final vote after staff completes line-by-line adjustments and confirms state funding and property-tax receipts.
