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Treasurer outlines FY26 amended-budget timeline and proposes moving working-cash interest to cover tort shortfall
Summary
Treasurer Joe told the North Boone CUSD 200 board that at least $1.4 million in previously assumed revenues are not materializing and outlined a May–June timeline for a tentative amended FY26 budget; he proposed designating Fund 70 interest for transfer to the tort fund to avoid a negative balance.
Treasurer Joe presented the monthly financial report and described the district's revenue and expenditure status, saying the bank balance and register balance "tied out" and that routine monthly reports will be supplied to business services and the board going forward.
Joe said the district "received $967,000 in the ed fund and revenue," listing revenue sources including property taxes, CPPRT, sales tax and evidence-based funding. He reported $92,000 in March sales and facility tax receipts, "23.4% higher than where we were last year," and about $42,000 in interest (86% of the amount budgeted).
On the amended FY26 budget, Joe said the purpose is to reflect actual revenues and expenditures and that "at least $1,400,000 is as a result of revenue that we aren't getting that was originally put in." He outlined a timeline: an initial presentation to business services in May, the tentative amended budget at the May board meeting, adjustments at the June business services meeting and a public hearing and vote at the June board meeting with filing prior to June 30.
To address shortfalls in the tort fund, Joe recommended following Illinois law to designate interest earned in Fund 70 (working cash) as interest in May and then adopt a June resolution to transfer that interest from Fund 70 to Fund 80 (tort) without repayment. He said the move would provide additional revenue to help the tort fund remain solvent and avoid prolonged negative balances.
Board members asked clarifying questions about the timeline and about how amended-budget posting and public hearing requirements will be met. No formal vote on the amended budget or the transfer was taken that night; staff will present the resolution and the tentative amended budget in upcoming business-services and board meetings.
