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CFO warns Peoria Schools remain unaudited for two years; budget figures uncertain
Summary
New CFO Mike Curry told the board the finance office is understaffed, two years of audits are incomplete and he is 'not confident' in the district’s numbers, prompting questions about timing for budget votes and the fiscal impact on operations.
Chief Financial Officer Dr. Mike Curry told the board that the district’s audit process is behind and that the business office is understaffed, leaving uncertainty about starting balances used in the amended budget.
"I'm not confident in our numbers," Curry said, describing an understaffed office tasked with current and prior-year audit requests and recommending that the board not pursue the amended budget as presented because it relies on unaudited figures. He said the prior audits may not be completed until December and that the FY2026-27 audit will need to follow, leaving the district effectively two to three years behind in audit completion.
Board members pressed Curry on the timeline and the risk to cash flow, asking whether emergency borrowing or bonds might be necessary. Curry said he could not provide a concrete deficit number yet but that the administration is monitoring liquid funds to ensure payroll and bills can be paid. He advised more staff training and additional resources for the business office and said he would focus on presenting a budget with clearer 'ins and outs' once the starting balances were better verified.
The report led some trustees to question whether proposed expenditures should be delayed and spurred requests for more detailed financial reporting before approving any large new contracts or commitments.
