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Lake Forest SD 67 board adopts 2025–26 $50M budget, aims to rebuild fund balance by $1.3M
Summary
The Lake Forest School District 67 Board approved the 2025–26 final budget after a public hearing; staff highlighted a $22,000 E‑rate revenue adjustment, $615,000 net reductions from tentative to final, and a planned $1.3 million increase to the fund balance.
The Lake Forest School District 67 Board of Education voted unanimously Sept. 23 to adopt the 2025–26 final budget, which officials said projects total revenues with transfers of just over $50,000,000 and an operating revenue estimate just above $49,000,000.
"With that minor change, our final operating revenues are estimated to be just over $49,000,000," said Britney Jardis, director of fiscal services for Lake Forest SD 67 and 115, at the budget hearing. Jardis told the board the only substantive revenue adjustment since the tentative budget was an E‑rate reimbursement estimated at $22,000 for the fiscal year.
The hearing included an expenditure review from Whitney Drager, introduced as the district's director of business operations, who said about 70% of district expenditures are for salaries and benefits. Drager detailed line‑item adjustments from the tentative budget, including reductions to repair and maintenance ($8,000); special education transportation ($115,000); related services ($165,000) after bringing an instructional coach in‑house; utilities ($25,600); cafeteria equipment ($33,000); and tuition ($95,000).
"So with all of our budget managers, we were able to drop the budget from tentative to final by about $615,000," Drager said, adding that the district is intentionally rebuilding its fund balance after prior capital spending. The presentation stated the budget is expected to yield a positive impact to the fund balance of approximately $1,300,000.
Board members asked clarifying questions about Moody's rating expectations and the fund balance projection; staff confirmed the $1.3 million target is intentional to strengthen fiscal position. Jardis reminded the board that Illinois law requires the final school district budget to be adopted by Sept. 30.
The board approved the budget by roll call vote. The district posted budget documents and contracts on its website for public review, and staff noted additional financial details are available upon request.
