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District reports amended FY25 deficit, says Vision 117 Phase IV land closes May 22
Summary
CFO Rick Cunningham presented a tentative amended FY25 showing a projected deficit of -$813,252 and an amended fund balance of $39,650,776; Superintendent Steve Ptacek said the district will close on the Vision 117 Phase IV land purchase on 5/22 with a projected $20 million project budget.
CFO Rick Cunningham told the Jacksonville School District #117 Board on May 21 that the district is 83% of the way through its budget year and presented a tentative amended FY25 showing a projected deficit of -$813,252 and an amended budgeted fund balance projected at $39,650,776 as of May 21.
Superintendent Steve Ptacek reported on revenue trackers and state items, saying there was an increase in PPRT since last month and noting discussion at the state level about a proposed K-2 discipline bill. Ptacek also said "the district will close on the land purchase on 5/22" for Vision 117 Phase IV and that soil testing is complete; the project budget was presented to the Board as $20 million with hopes to break ground in the fall pending architect and contractor scheduling. The Board received the report and had no recorded vote on the update beyond acceptance as part of standing reports.
The presentation included detail on operating funds: Fund 10 (Education), Fund 20 (Operations & Maintenance), Fund 40 (Transportation) and Fund 70 (Working Cash) with a reported total current-year balance of $44,220,777.24. The budget figures were presented by the CFO; no additional financing actions or bond authorizations were taken at the meeting.
Next steps noted by administrators include closing the land purchase on May 22, continuing architect planning, and further budget work before the next regular meeting and public hearing scheduled June 25.
