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Marseilles ESD 150 board adopts FY2025 budget after treasurer reports $1.54M balance
Summary
The Marseilles Elementary School District #150 Board unanimously approved the Fiscal Year 2025 budget on June 26, following a treasurer's report showing a $1.54 million operating balance as of May 31 and month-to-month revenue and expenditure details.
The Marseilles Elementary School District #150 Board of Education unanimously adopted the Fiscal Year 2025 budget on June 26.
Superintendent Brenda Donahue read the treasurer's report from Craig Hepner, saying: "The balance in the operating account as of May 31 was $1.54 million," a decline of about $245,000 from April 30. Donahue said May receipts totaled $474,000, including $282,000 in general state aid, $88,000 in Corporate Personal Property Replacement Tax and $36,400 in investment income; May expenditures were $701,000 and were running in line with the budget year-to-date. The district's CD portfolio yield as of May 31 was 4.015%.
Board member Cherise Byone moved to approve the budget that had been on display; Julie Morey seconded the motion. The recorded vote was Aye: Barnes, Byone, Carpenter, Cowie, Morey and Thomas; the motion carried. The board did not debate any amendments during the meeting.
The fiscal adoption follows routine financial reporting and places the district's spending plan for the coming year into effect; the board did not attach additional conditions or directives during the vote.
