Audit shows Argo CHSD 217—s net position rose $12.1 million; committee reviews May financials

The Argo Community High School District 217 Finance Committee reviewed the district—s FY2025 financial audit and May financial report during its June 16 meeting.

According to the minutes, the FY2025 audit, completed by Baker Tilly and submitted to required agencies, showed the district—s net position increased by $12.1 million from the prior year, a 23% rise from FY24. Total reported revenues were $71.2 million, of which $55.3 million (78%) were general revenues and $15.9 million (22%) were program-specific (charges for services, fees and grants). Expenses for government activities totaled $59.1 million, of which $15.9 million were offset by program-specific revenues.

The minutes say there were audit findings in FY25 tied to previous management decisions; those findings were remedied in FY26 and the district reported improvements to internal processes and procedures.

The committee also reviewed routine financial metrics: accounts payable for June 2026 totaled $1,854,235.90, and cash reserves (fund balance) as of May 31, 2026, were listed at $56,633,366 (down from $59,915,446 the prior month). The minutes show the district recorded $2,469,602 in revenues and $5,751,683 in expenditures during May. Year-to-date figures indicated the district had realized 91% of budgeted revenues and expended 79% of budgeted expenditures.

No formal vote or motion on these financial items is recorded in the minutes. The Finance Committee adjourned at 6:00 p.m.; its next meeting is scheduled for July 13, 2026, at 5:45 p.m.