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Skokie SD 69 lays out capital funding picture: $3.9M designated, $5.1M in working cash; TIF and bond retirements to affect capacity
Summary
The district reported $3.9 million designated for capital and $5.1 million in Working Cash; administrators forecast about $3.5 million from a TIF expiration in FY2030, potential DSEB capacity by FY2032 and approximately $700,000 freed annually in FY2033 after Lincoln bond retirement.
Dr. Margaret Clauson reviewed the district's capital resources and long‑term financial outlook for committee members. She said $3.9 million has been designated within the District's fund balance for capital projects and an additional $5.1 million is maintained in the Working Cash Fund and designated for future capital needs.
Administration recommended keeping the Working Cash fund balance in place to preserve maximum financial flexibility until actual project expenditures are required. Dr. Clauson projected that the anticipated expiration of the Science‑Tech tax increment financing (TIF) district in Fiscal Year 2030 could generate about $3.5 million in additional property tax revenue that the Board plans to designate in part for future capital improvements.
The presentation noted that Debt Service Extension Base (DSEB) capacity is expected to become available by Fiscal Year 2032, which could allow the district to issue bonds, and that the retirement of Lincoln school bond payments in Fiscal Year 2033 would free approximately $700,000 in annual operating expenditure. Committee members said aligning major projects to FY28–FY30 summers better supports the district's long‑term funding strategy.
The minutes record these numeric details as administrator reports; no formal bond issuance, motion or vote was recorded at this meeting.
