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Pekin CSD 303 cites $2.1M deficit as health-insurance claims drive premium spike
Summary
Pekin Community High School officials presented an amended 2025–26 budget showing a $2.1 million deficit, attributing much of the shortfall to unusually large health-insurance claims and other revenue timing issues; the board approved renewals with Blue Cross Blue Shield and plans to display the amended budget for 30 days.
The Pekin Community High School Board of Education on May 18 approved an amended 2025–26 budget that shows a $2.1 million deficit, a substantial increase from an earlier $440,000 shortfall.
Chief Financial Officer Schaefer told the board that several factors combined to create the larger deficit: $203,000 less-than-expected revenue from CCPRT, $363,000 lost interest revenue after a roughly 1 percentage-point decline in interest rates, $185,000 in adjustments related to electricity timing and capacity charges, and $256,000 in early payments for ten buses arriving in June. A major driver, she said, was higher-than-expected health-care claims: “We paid out $450,000 more than we collected,” and ten very large claims created much of the pressure on the budget.
The board also heard that department chairs have cut discretionary budgets by roughly 20 percent to help close the gap. President Ryan Wrigley noted the district has drawn down about 25 percent of its fund balance since 2024 and cautioned that large line items—like the $256,000 bus payment on a $37 million budget—are material to cash management.
In the same discussion, CFO Schaefer presented health-insurance administration figures for renewal with Blue Cross Blue Shield. She said the district’s self-insured plan and stop-loss experience produced a new administration rate of $278.06 per employee per month for the coming contract year, up from $236. The board approved renewal of the BCBS health-administration contract.
The amended budget will be on public display for 30 days and is scheduled to return for board action at the June meeting.
The board’s immediate actions were procedural: adopt the amended budget display and continue to monitor negotiations and insurance outcomes in upcoming meetings.
