Rantoul City Schools accepts FY2025 audit and outlines $1.65 million net deficit

The Rantoul City Schools #137 Board of Education voted Dec. 18 to accept the district's Fiscal Year 2025 audit and Annual Financial Report.

Administration told the board the district's three primary fund balances at year-end were: Education Fund $11,549,366; Building Fund $1,005,030; Transportation Fund $804,059. The district reported a net deficit across funds of $1,654,105, including an Education Fund deficit of $1,166,082. Board members were also told the district received $1,288,089 in FY25 grant revenues at the beginning of FY26 that offset a significant portion of the reported deficit.

"The total net deficit across funds was $1,654,105," administration said in the packet presented to the board, and members discussed the impact of flat state and federal revenues while costs rose for salaries and insurance.

Officials highlighted that total revenues for FY25 were $37,460,391 compared with $36,227,917 the prior year, and that expenditures rose primarily because of salary increases, insurance, and supply costs. The district received a financial profile designation of 3.3 out of 4 from the State; administration noted the rating methodology does not account for voter-approved sales-tax revenue that supports bond payments.

Board members and administration said they expect downward pressure on revenues in FY26 from potential reductions in state and federal funding, replacement tax declines and lower Evidence-Based Funding allocations. As part of budget development, administration said it has begun examining programmatic and staffing options for the next school year.

The motion to accept the Fiscal Year 2025 Audit was moved by Niki Pettit and seconded by Robin Vaughn and carried 6'0yea, 0'nay, 1'absent.