District presents tentative FY27 budget: $122 million revenue plan, one‑time grants and tax‑timing risks

The district's business office presented the tentative fiscal‑year 2027 budget to the Committee of the Whole, outlining major revenue and expenditure assumptions and several one‑time items that materially affect year‑to‑year comparisons. "Total revenue budgeted for fiscal year 27 is $122,000,000," the presenter said.

The revenue picture includes property tax collections tied to the 2025 levy, a $3.5 million state grant secured for Project 2 that the district can now claim as construction expenses, and a potential federal tax incentive related to the geothermal installation with an early estimate that was characterized as possibly being over $8 million. The administration cautioned that the geothermal incentive's timing and exact amount are uncertain, and that Cook County's tax‑billing technology issues have delayed some revenues, which complicates cash‑flow and interest‑income expectations.

On the expenditure side, salaries and benefits remain the largest component (about 60% of operating expenses), and operating funds are projected to increase about 6% over the prior year. The business office recommended keeping contingency plans ready if federal incentives or county tax payments are delayed; if the geothermal incentives do not materialize within the expected window, the fund‑balance percentage could fall closer to the policy floor. The administration also proposed transfers to cover capital needs (approximately $15 million from operating funds) plus use of remaining capital project funds and donor/state grant proceeds.

Next steps: the board will vote to place the tentative budget on public display and post a notice of public hearing to meet the 30‑day notice requirement; final adoption is expected in September after public review.