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District CFO reports $2.4 million shortfall year‑over‑year; Vision 117 Phase IV construction underway
Summary
Chief Financial Officer Rick Cunningham told the board the district is $2.4 million below last year's position due to revenue payback timing and lags in state and federal revenue; board also received sales tax and PPRT updates and a construction update for Vision 117 Phase IV.
Chief Financial Officer Rick Cunningham told the board the district is about 75% of the way through its fiscal year and "We are 2.4 million below where we were last year mainly due to the revenue payback and due to the lag in state and federal revenue." He reported the district received $309,011.21 in sales tax in May and $227,781.09 in PPRT in April and said the Illinois Department of Revenue had not communicated a timeline for payoff releases.
Assistant Superintendent Matt Moore updated the board on Vision 117 Phase IV at Murrayville/Woodson, noting ground breaking has occurred and geothermal installation has begun; Mr. Lonergan added that wall construction is expected to start around May 1 and May 15. The financial report framed staffing and program discussions during the meeting and informed upcoming budget planning.
