Lisle CUSD 202 finance committee recommends tentative FY2025 budget with $1M operating surplus after capital set‑aside

Mr Wilkinson, the district’s school treasurer, presented Lisle CUSD 202’s tentative fiscal year 2025 budget to the finance committee, saying the district’s operating funds are balanced and reporting roughly $1.8 million in surplus before transfers. "We have a balanced budget within its operating funds," he said, noting that reserving $750,000 for capital projects leaves about a $1 million operating surplus.

Wilkinson attributed a large share of the surplus to higher investment returns: interest income is approaching $2.3 million, up from roughly $300,000 a few years ago. Property tax revenue, he said, is about $1.7 million higher after the board approved a full CPI levy; new construction added roughly $70,000. He also outlined projected personnel cost increases — salary estimates near 4% and benefit increases of roughly 8–10% depending on plan.

On capital needs, Wilkinson said the FY24 budget included a $750,000 transfer to the capital projects fund as part of a continuing practice to set aside funds for facility work. He told the committee he will return to the board in July to transfer $3 million from the education fund to the capital projects fund to cover work on the junior high, which he estimated as a roughly $6 million project overall. "That will be included in next year's budget but it was not included in this year's budget — we have enough fund balances currently to pay the bills that are coming due," he said.

The presentation covered other revenue and expenditure items: anticipated decreases in federal carryover funds and federal program revenues, an expected increase in local revenue from leasing classrooms at Shore/Shar Elementary (estimated $150,000), software subscriptions around $290,000, and transportation and purchase service adjustments. Wilkinson said the district expects savings of about $100,000 from competitively bidding alternative student transportation, and noted a transportation fund cushion of roughly $600,000.

He reviewed statutory and procedural deadlines: the tentative budget must be put on display for public inspection and a public hearing is scheduled for the Sept. 23 board meeting; the notice will be published in the Daily Herald. The administration recommended the board approve the tentative budget to begin the required public display and hearing process.

Committee members pressed on multi‑year projections and levy strategy. Wilkinson said projections assume levying the full CPI allowance and warned that not levying the full amount could lead to deficits later in the five‑year projection period. He also noted the district will conduct a 10‑year life safety assessment in 2025 that could prompt re‑evaluation of the $750,000 annual transfer.

The committee did not record a formal vote in the finance committee transcript; administration recommended approval and the matter will be forwarded to the full board with the public display and hearing timeline.