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Berwyn South SD 100 finance director reports reserves, previews tentative FY27 budget; board approves consent agenda
Summary
Jenny, the district finance director, reported a bank balance of about $26.4 million and investments of $34.3 million, reviewed FY27 assumptions including a 2.7% CPI levy figure and the tentative budget on display; the board approved the consent agenda by roll call.
Jenny, the district's finance director, presented the district's financial snapshot and previewed the tentative FY27 budget assumptions.
Jenny reported the district's bank balance as of the meeting at roughly $26,400,000 and investments totaling about $34,300,000. She said month-to-date revenue was around $260,000, June cash flow was about $5,300,000, year-to-date revenue about $69,000,000 and year-to-date expenses about $72,000,000. Jenny told the board the draft FY27 budget includes a levy assumption tied to a 2.7% CPI figure and that the district's tax levy is projected to fall from $27,000,000 to about $26,000,000 because of bond restructuring; she noted evidence-based funding and some federal/state grant levels remain uncertain pending final numbers from state authorities.
Jenny said the tentative FY27 budget on the agenda is for approval to go on display; the final budget will return for board approval in September before submission to the state. She also flagged three FOIA requests received this month and reviewed several consent-agenda items the board would be asked to act on, including declaring Bus #15 (a 2011 vehicle) surplus pending approval of a used replacement, the district's workers' compensation renewal and a kitchen floor replacement at Freedom, the district's central meal-production hub.
The board approved the consent agenda by roll call after a motion and second. Roll-call responses recorded Aye from Renee Jimenez, Steinfeld, Butler, Caballero and Palace; the motion carried. Gonzales and Drent were recorded as absent with notice earlier in roll call.
The board did not take final action tonight on the FY27 budget; Jenny said the tentative budget will remain on display and the board will consider final adoption in September when state figures are final.
What's next: staff will refine capital-project ties to the tentative budget (including any contingency that could be applied to the La Verne site) and return a final FY27 budget for board adoption in September.
