Elmhurst SD 205 presents FY2027 tentative budget showing near-term deficit, officials cite long-term sustainability steps

Joe Blomquist, who presented the district's tentative FY2027 figures, told the board the administration is proposing $175,400,000 in revenues and about $175,000,000 in expenditures for the coming year. "I am very, pleased to bring to you the FY 2027 tentative budget," Blomquist said, outlining that the district's fiscal year runs July 1 through June 30 and noting last year's unaudited revenues of $172,500,000.

Blomquist said the proposed budget would include the district's annual $4,000,000 transfer to capital projects and that after that transfer the district would show a net deficit just under $4,000,000; before the transfer, he said, the board would see a surplus of $358,013. He described steps to lower future interest and recurring costs — including paying down certain capital leases outright and buying multi-year curriculum materials at a discount — estimating about $75,000 a year in interest savings once leases are paid down. Board members praised the administration's multi-year planning and higher fund-balance targets as a stabilizing move for the district's finances. The board will review updated numbers at the Finance & Operations Committee meeting on Sept. 9, with final budget adoption scheduled for Sept. 22.