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Treasurer warns of tighter cash position; board reviews five-year forecast and discusses a 2027 levy option
Summary
Treasurer Craig reported a temporary cash shortfall after county tax advances were lower than expected and presented an updated five-year forecast; the board approved updated appropriations and forecast and discussed modeling that includes a possible 5.9-mill operating levy in 2027 to stabilize reserves.
Treasurer Craig told the board that cash on hand is lower than usual after the county remitted $2 million of tax advances rather than the $6 million the district expected, leaving the district with a tighter liquidity position through payroll cycles. "So until they review it, and sign off on it, then we're just in a holding pattern," Craig said, adding that investments are intact but the district will 'scrape by' until the county settlement in March.
Craig reviewed the updated forecast showing a favorable variance of about $982,000 driven in part by one-time receipts, but he warned of a projected decline later in the five-year window if no new revenue is added. Modeling presented to the board included an option to place a 5.9-mill operating levy on the ballot in calendar year 2027 (collecting revenue beginning in 2028) to restore reserves; administrators said the board will decide timing later. The board voted 5–0 to approve updated appropriations, estimated resources and forecast filings required by state law.
Craig also described a $1.5 million net increase across funds in the proposed budget adjustments, tied in part to grant activity and the district’s role as fiscal agent for suburban health-care funds. He noted the district's historical policy of continuing levies helped shield it from earlier legislation changes that cut levy-based revenue in some districts.
Board members asked clarifying questions about assumptions for wages and benefits, timing for reappraisal impacts, and the potential public-facing timetable for a levy decision; administrators said they will continue to update the board semiannually and provide detailed modeling ahead of any ballot decision.
