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District financial officer warns projected deficits may exceed bond proceeds
Summary
Chief Operations Officer Anthony Cozzi presented operating fund projections for 2027–2030, saying projected deficit spending over the period will exceed periodic bond proceeds and that while current fund balances can absorb short‑term deficits, sustained deficit spending is not sustainable.
Chief Operations Officer Anthony Cozzi presented the River Forest SD 90 operating fund financial projections covering 2027–2030. Cozzi identified the significant assumptions behind the forecast, highlighted major items driving the outlook, and warned that projected deficit spending over the years presented will exceed periodic bond proceeds issued by the district. He also noted that current fund balances can absorb the deficits presented in the near term but that longer‑term deficit spending at that pace is not sustainable.
Board members engaged in a lengthy discussion about assumptions and potential mitigation strategies. Cozzi’s presentation placed the district on notice that future budget decisions will require either increased revenues or structural expenditure changes to avoid drawing down reserves beyond prudent levels.
