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Lincoln Way 210 presents tentative FY2027 budget with $2 million surplus; board to refine figures in August
Summary
District staff presented a tentative FY2027 budget showing approximately $133.4 million in operating revenue and $131.2 million in operating expenditures (roughly $2 million surplus) and recommended placing the tentative budget on display; board will review updates in August and adopt a final budget in September.
District financial staff presented the Lincoln Way Community High School District 210 tentative fiscal year 2027 budget at the June 18 board meeting and asked the board to place the budget on public display and schedule a September public hearing.
Staff noted the district's revenue mix is highly local: roughly 71% of operating revenue comes from property taxes, about 11% from evidence-based funding and about 4% from other state and federal sources. Staff said local operating revenue is projected to increase about 4.9% and that the district continues to budget for mandated categorical payments, but warned that proration or delays in categorical payments from the state could materially affect revenues.
On the expenditure side, staff told the board that salaries and benefits account for roughly seven of every ten dollars in the operating budget and that capital spending within the operating budget is small (about 5%); larger capital work is budgeted in the district's fund 60 capital projects. The presentation summarized the tentative operating picture as $133.4 million in operating revenue versus $131.2 million in operating expenditures (a roughly $2 million surplus) with projected fund balances near 33.7%.
Staff also described a planned permanent interfund transfer of $4.5 million to pre-fund capital projects for FY26-27 and said refinements to the tentative numbers will be made in August and September as property tax receipts, contractor pay applications and any state categorical proration become clearer.
Dr. Mike Dubac asked how the district will be notified if categorical payments are prorated or delayed. Finance staff replied some elements are finalized in the governor's budget while others are determined later and said the district typically receives definitive numbers by August; if a categorical is prorated the district remains owed the money but the timing and fiscal-year assignment may change.
The board voted to accept the tentative FY2027 budget, place it on display, and schedule a public hearing in September; the vote was unanimous. Staff said they will return with updates in August and ask the board to adopt a final budget at the September meeting.
