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Unaudited FY25–26 results: revenues slightly above budget, fund balance exceeds board target
Summary
Finance director reported unaudited FY25–26 results: total revenues $307.0M, expenditures $306.9M, ending general‑fund balance projected at about $67.385M (~22.46%), above the board’s 18% target; staff flagged a $1.3M state‑aid shortfall and special‑education staffing pressures.
Finance Director Tina Mignet presented preliminary, unaudited FY25–26 financials and highlighted that revenues exceeded budget while expenditures also rose slightly.
Mignet said the district reported total revenues of $307,003,649 versus budgeted revenues of $300,041,001.40 and expenditures of $306,932,937, leaving the district roughly even but with a stronger‑than‑expected fund balance. The district’s balance sheet showed total assets of $101,604,390 and a projected ending fund balance of about $67,385,208, or roughly 22.46% (above the board target of 18%).
She noted a $9.4 million item classified "due from other funds" representing an Oak Brook TIF reimbursement that was paid July 1, and she cautioned that state aid to classrooms came in about $1.3 million lower than projected due to a slight enrollment decline. The finance director also explained higher costs in special-education services because federal IDEA grant budgets did not increase proportionally, requiring some positions to be funded from the general fund and use of contracted services at higher cost.
Trustees asked for an added average line on fund-balance graphs to show trends; staff agreed to add an average indicator. The finance presentation was informational and trustees did not take separate formal action on the report itself.
