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District 112 projects $6.1 million operating surplus for FY25, fund balance rises
Summary
Assistant Superintendent Jeremy Davis told the Board the district expects an operating surplus of about $6.1 million for the year ended June 30, 2025, driven by higher interest income and capital work funded by bond proceeds; the operating fund balance is projected to rise to $67.5 million.
Assistant Superintendent for Business Services Jeremy Davis told the Board that the district, which budgeted for a $1.3 million deficit for FY25, now projects an operating surplus of approximately $6.1 million for the year ended June 30, 2025. "The primary driver of additional operating income was higher-than-anticipated interest income on investments," Davis said, and the district used bond proceeds for capital work so operating fund expenditures were lower than expected.
Davis said the operational fund balance is expected to increase from $61.4 million to $67.5 million and cited the Annual Financial Report figure of a 62.6% fund-balance-to-revenue ratio as of June 30, 2025. He also cautioned that beginning in FY26 the district will begin drawing on reserves as bond proceeds are no longer available and some Phase 2 projects remain to be completed.
