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Urbana SD 116 approves corrected FY25 budget and authorizes bond sales for capital and cash needs
Summary
The board approved a corrected FY25 budget resolution, accepted donations to school programs, awarded a rooftop replacement bid and approved amended resolutions authorizing alternate‑revenue (sales‑tax secured) bonds and working‑cash bonds (the district reported selling roughly $21.3M of a $23M authorization).
The Urbana School District 116 Board of Education approved a corrected fiscal‑year 2025 budget resolution and took several financing and procurement actions, including amended bond resolutions intended to fund construction projects and rolling working‑cash needs.
On the budget correction (item 12.2), administration said adult‑education numbers in the version adopted on Sept. 17 contained incorrect figures; the board approved a corrected resolution by roll call with all members voting yes.
The board also considered two related bond resolutions (items 12.3 and 12.4). Ann Noble, bond counsel with the district’s financial advisor, described two series: Series A alternate‑revenue bonds secured by the county school‑facility sales tax (authorized up…
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