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Riverside-Brookfield board hears tentative FY27 budget showing $3.28 million gap; $3M tied to possible zoo sublease
Summary
Board finance staff told trustees the tentative FY27 budget projects a $3,282,966 deficit largely driven by a planned $3,000,000 abatement related to a potential sublease payment for land use with the zoo; administration flagged options including a short-term county loan and said the final budget will be presented for approval in September.
On July 14, 2026 the Riverside-Brookfield Township High School District 208 Board of Education reviewed updated fiscal-year figures and an adjusted tentative FY27 budget that projects a $3,282,966 deficit.
Kristen, who presented the financial report, said the jump in the projected deficit is primarily driven by an anticipated abatement of $3,000,000 in working cash tied to a potential sublease payment related to land use. "That has jumped significantly to $3,282,966. But really, if you take out 3,000,000 ... there wasn't much movement on the tentative budget," Kristen said, summarizing the change and its cause.
The board was also shown FY26 closeout numbers: the fund-balance sheet closed FY26 with a deficit of $585,779, and the district received roughly 98.8% of budgeted revenue for the year. Kristen told trustees the district's operating‑fund balance is approximately 49% of operating expenditures — roughly six months — and said that, excluding the $3,000,000 abatement, the operating deficit would be about $280,000.
Trustees asked about contingency options to manage potential timing shortfalls in property-tax distributions. Kristen and other administrators noted the county is offering a two‑month loan program to districts that face delayed tax distributions; board members expressed interest in learning more about that option before a final decision. "The sooner an application goes in, the better," one trustee said when discussing loan timing.
Other budget items discussed: an approximately $3.5 million placeholder for capital-projects fund 60 for potential projects, and an increase in special‑education transportation costs based on June 30 actuals. The administration also noted the district had budgeted for property-tax appeals and that timing on county processing affected collections this year.
The report included a personnel-related proposal: raising pay for external substitutes from $22 to $25 per hour to align with CPI increases and improve competitiveness with neighboring districts. Kristen estimated the fiscal impact based on last year's substitute usage at about $30,000; trustees debated whether to return the item for formal board action in August or September.
Why it matters: the preliminary budget figures inform decisions about staffing, services and capital planning ahead of the district's final budget adoption. Administration said the final budget will be presented to the board for approval in September after more information on state funding and other revenue assumptions is available. The superintendent also indicated additional details about a potential zoo sublease will be discussed in closed session under the purchase/lease of real property exemption.
Next steps: administrators will post the updated tentative budget on the district website, pursue further information on state funding and county loan options, and present the final FY27 budget for board action at the September meeting.
