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Business report: Miller says state paid FY26 in full; capital fund and bond payments outlined
Summary
Business official Miller reported the district had $0 outstanding state payments for FY26, summarized capital fund balances and May sales tax receipts of $1,149,498, and outlined upcoming bond payments totaling about $16.15 million.
Miller presented the district’s business report and said the state had paid the district for fiscal year 2026. “Outstanding payments for the state of Illinois for FY26 total $0,” Miller told the board, noting this was the first time in three years the line showed zero.
Miller reviewed capital project finances: a beginning balance of $41,533,774.32, dividend and interest income for the period of $232,444.36, and draws/expenses of $7,595,970.86 that yielded an ending balance of $34,170,247.86. He reported May sales tax receipts of $1,149,498 (for the February reporting period) and said the district uses sales tax collections to pay bond principal and interest. Miller noted an upcoming bond payment made June 1 for $10,200,000 and said a total of approximately $16,151,537 will be paid in the next two bond payments (June 1 and Dec. 1).
The report was presented as information to the board; no policy action followed immediately from the presentation.
