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Finance Subcommittee: daycare fund posts surplus; school lunch fund shows deficit pending review
Summary
At a Regional School District 17 Finance Subcommittee meeting on Aug. 12, 2025, monthly reports showed the daycare fund had positive operations for FY2025 while the school lunch fund recorded a deficit partly tied to equipment purchases; general fund year‑end reports were not yet available for review.
The Regional School District 17 Finance Subcommittee reviewed month‑end financial reports for June 30, 2025 (FY2025) and July 31, 2025 (FY2026) at its Aug. 12 meeting. Chair Joseph Centofanti presided; Interim Superintendent Paul Smith and Director of Finance Karen Asetta were present.
The reports showed the daycare fund had positive operations for FY2025, while the school lunch fund continued to show negative operations. The minutes note that part of the lunch fund deficit is attributable to equipment purchases and that additional review will be completed after year‑end closing entries are recorded. The subcommittee also recorded that general fund reports were not available at the time because the Director of Finance needed additional time to review year‑end balances to ensure all activity had been recorded correctly.
Subcommittee members asked staff to follow up on state reimbursement amounts for the school lunch program and to return with clarifications after the year‑end close. The meeting record indicates these items will be revisited at the next meeting and included in follow‑up agenda items.
