District 57 ends FY26 under budget and previews FY27; referendum bond sale nets favorable rate

District business staff presented an unaudited review of fiscal year 2026 and a preview of the FY27 budget process, telling trustees the district came in under budget for FY26 and outlining timing and revenue uncertainties tied to Cook County property‑tax reporting.

The business officer told the board the district received about $35,000,000 in referendum bond proceeds this year and spent roughly $23,000,000 on referendum‑funded construction; those referendum dollars were reported separately from operating fund results. The presenter said revenues were within about one percent of budgeted estimates and expenditures were roughly 2% under budget, and noted benefit costs had increased substantially (cited mid‑teens percentage changes). "We did receive about $35,000,000 in referendum bonds this year ... and we did spend around 23,000,000 this year, in construction costs through the referendum," the presenter said.

Trustees asked for further detail about benefit rate changes, whether the district might need interim county loan options if Cook County timing delays tax distributions, and for a clearer breakdown of local/state/federal revenue percentages for planning. The board was told the citizen finance advisory committee informs staffing and budget projections and that the board will approve a tentative budget in August followed by a public budget hearing and final adoption in September.

What’s next: administration will provide more detailed FY27 assumptions, a breakdown of revenue sources and updates when Cook County posts its extension; trustees flagged the insurance/benefits line as a key budget risk to monitor.