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District reports unauthorized financial activity; treasurer flags possible tax-timing impact
Summary
A district official told the board the district discovered unauthorized financial activity on May 20 and engaged law enforcement; the Maine Township treasurer reported a 3.25% average investment yield and warned Cook County tax-bill timing changes could delay receipts into October, affecting cash flow.
At the June 15 meeting of the CCSD 62 Board of Education, a district staff member reported that on May 20 the district became aware of unauthorized financial activity. The staff member said law enforcement was notified and the matter remains an active, open investigation; no further operational details were provided during the public session.
"We immediately engaged with law enforcement to respond and make sure that we didn't have any further problems," the district staff member said, and added that further information will be shared when appropriate.
Separately, a presenter delivering the Maine Township treasurer summary told the board the district’s pooled investments benefited from an average interest rate of about 3.25% across funds. The presenter said a Cook County scheduling change could delay the second installment of property-tax payments until October — roughly two months later than the typical schedule — and that staff will closely monitor cash flow and investments in response.
The board did not vote on any financial measures tied to the reported unauthorized activity at the meeting and provided no additional public directives beyond tracking the situation and coordinating with law enforcement. The board moved into closed session later in the meeting; the presenter said no public action was taken before adjournment to closed session.
