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Treasurer: $633,000 in delinquent taxes and higher interest boost FY26 forecast, but FY27 deficit remains
Summary
Treasurer reported a one-time delinquent-tax collection of about $633,000 and year-to-date interest income above $1.1 million, improving FY26 variance; he cautioned the district still projects deficit spending in FY27 and recommended routine temporary appropriations and accounting steps.
Treasurer Mr. Espy reported the district's April financials and highlighted two items that improved the near-term forecast: a delinquent-tax collection and stronger interest income.
"We received a little over $633,000 in delinquent taxes," Mr. Espy said, noting that amount is large for an individual household but small relative to the district's roughly $72,000,000 budget. He added that interest-income growth has been notable: month-to-date interest was $92,244.65 and fiscal-year-to-date interest stood at about $1,100,000, an increase of roughly $213,420 compared with the prior period.
Espy told the board those revenue items produced a positive variance for FY26 but warned the district still expects to finish FY27 in deficit spending absent additional changes. He reviewed cash-management and investment choices (commercial paper vs. STAR and managed accounts), TIF receipts from partner townships, and several systems and policy projects including board-policy publication improvements and a new system called SYMBBLY.
Following the report the board approved the financial reports for April 2026 by roll call and also approved a set of fiscal motions the treasurer recommended: acceptance of donations, approval of GCIC health-insurance renewal rates (a 7% increase), approval to keep meal prices unchanged for 2026-27, approval of several vendor contracts tied to curriculum and tech renewals, and adoption of temporary appropriations (25% of current appropriations) as an administrative safeguard until permanent appropriations are available.
The treasurer emphasized the importance of percentages and long-term forecasting rather than one-time receipts when assessing structural budget trends.
