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Argo CHSD 217 board approves parameters to sell up to $5 million in working cash bonds; passes multiple finance measures
Summary
The Argo Community High School District 217 board on May 20 approved parameters to issue up to $5,000,000 in working cash bonds and passed several finance measures, including renewing audit services and approving treasurer fees and capital repairs. One board member voted no on the bond parameters.
At its May 20 meeting, the Argo Community High School District 217 Board of Education approved parameters to issue up to $5,000,000 in General Obligation Limited Tax School Bonds, Series 2026, intended to increase the district's working cash fund.
The parameters resolution (Resolution #25-26-R10) passed on Motion #2026-180 by a 6-1 roll-call vote; Member Mike Vasquez cast the lone no vote. Tammie Beckwith Schallmo of PTMA Financial Solutions presented the bond proposal and the board discussed the purpose of increasing the working cash fund before voting.
The board also approved several other finance-related items during the meeting. On Motion #2026-179 the board authorized publication and preparation of the district's tentative 2026–2027 budget (Resolution #25-26-R09). The board renewed auditing services for the FY26 audit with Baker Tilly (Motion #2026-181), approved Lyons Township treasurer fees for FY26 (Motion #2026-182; passed 6-1 with Vice-President Catherine Jozwiak recorded as a nay), and approved parking lot paving and repairs (Motion #2026-183). These motions passed by recorded roll calls or unanimous consent as noted in the minutes.
Additional fiscal and operational approvals included motions to authorize demolition and asbestos abatement for the "Six Flat" project (Motion #2026-184), to dispose of Career and Technical Education department equipment (Motion #2026-185), to approve accounts payable/IMPREST (Motion #2026-186), and to accept the finance report and monthly payroll (Motion #2026-187); these items passed without objection.
The board heard the results of the Illinois Public Risk Fund workers' compensation audit for the 2025 calendar year. The final audited premium was $175,129, an increase of $6,733 from the previously billed $168,396; the minutes state the district will pay the difference in FY26. The audit report included payroll totals of $26,649,136 for School Professionals (code 8868) and $1,892,383 for School — All Other (code 9101). The minutes list current rates used in the audit calculation as $0.363 for School Professionals and $3.873 for other employees.
What happens next: the parameters resolution authorizes a proposed sale under the stated limits; further steps, including final sale terms and purchaser selection, will follow district procedures and any required public notices.
