Wilmette SD 39 reviews draft 2027 budget as interest income falls and benefit costs rise

Wilmette School District 39’s Committee of the Whole on May 11 reviewed a first draft of the district’s fiscal 2027 budget, hearing that property taxes remain the largest revenue source even as interest income and some state reimbursements decline.

District finance lead Mr. Voltemeyer told the board the draft incorporates current assumptions—a 2.9% consumer‑price index and a net collection rate set at roughly 98%—and shows property-tax revenue, including debt service, exceeding $72 million. “Property taxes now surprisingly is our overwhelmingly top top area,” he said.

Why it matters: the budget combines steady property-tax receipts with weaker operating revenue lines. Voltemeyer said interest revenue, which had reached highs above $2 million in recent years, has pulled back and that billing and remittance delays from Cook County reduced interest receipts; he estimated the County’s delays cost the district at least about $500,000 in FY26. The draft carries an operating‑fund surplus of just over $700,000 but other transfers yield a net deficit of about $3.5 million and a fund balance just above 40%.

Details and pressures: Voltemeyer called attention to several expenditure pressures. He said state reimbursement for special‑education transportation has fallen from more than 80% seven years ago to below 50% now, a gap that he said is “approaching $400,000 for us.” He also outlined employee‑cost pressures: the presentation assumes a 4.15% increase negotiated with the teachers’ union and includes higher health‑insurance costs; Voltemeyer said the blended increase he used in the draft adds roughly $735,000 to the board’s annual costs.

The district’s pension contribution is another variable: Voltemeyer reported a preliminary Illinois Municipal Retirement Fund (IMRF) rate of 5.89% starting Jan. 1 and noted that IMRF rates are actuarially driven and can change with market returns.

Capital and transfers: Voltemeyer said capital projects do not align neatly with fiscal years; a junior‑high window replacement is planned for this summer and the capital projects fund is budgeted at $3.5 million. He reviewed outstanding debt certificates and an $800,000 operating transfer related to debt service.

Board questions and next steps: A board member asked whether the draft’s roughly 40% fund balance was conservatively high or low; Voltemeyer said he viewed the draft as conservative and that the balance could go higher as numbers firm up over the summer. He closed by reminding the board the presentation was a first draft: a tentative budget will be considered in June and the board is scheduled to take formal action in August.

What’s next: staff will refine assumptions and return to the board for further review in June; the board will consider a tentative budget then and adopt a final budget later in the summer.