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Treasurer: District received $15 million from life‑safety bonds; budget timeline set for August
Summary
Treasurer Stephanie Gray told the board the 2026 life‑safety bonds closed in July and the district received $15,000,000; she reviewed unaudited June 30 financials, described fund imbalances and said the tentative budget will appear in August with final approval in September.
Stephanie Gray, the district treasurer, told the board the district's fiscal year closed on June 30 and the district had improved cash‑on‑hand after spring tax collections. Gray said the 2026 life‑safety bonds closed in July and the district received $15,000,000 to support current construction projects.
Gray reviewed revenue timing and fund balances, noting that some funds (transportation, IMRF/retirement) were lower while the education fund was higher after tax receipts. She described how the timing of county remittances and late transportation reimbursements can change reported months of cash on hand and explained the board's options if a fund falls below target: interfund transfers or levy balancing.
On audit timing, Gray said the district's audit report is technically due by Aug. 15 and that the audit team often needs items such as appraisal reports before completing work; extensions are common when necessary. She also pointed board members to a multi‑year financial forecast and an upcoming demography presentation (Aug. 10) by Jerome McKibben to explain enrollment projections.
Board members asked clarifying questions about the overage in a special education out‑placement line and Gray noted that some invoices were billed in the fiscal year after the tentative budget was set. Gray invited board members to contact her with follow‑ups and to attend construction meetings if they wished.
The board recorded motions to accept the treasurer's report by roll call.
