Budget presenter outlines tentative FY2027 budget and a roughly $2 million deficit

The district’s budget presenter opened the board meeting with a detailed walk-through of the tentative FY2027 budget, explaining the district’s fund structure (Fund 10 education; Fund 20 operations and maintenance; Fund 30 debt service; Fund 40 transportation; Funds 50–51 IMRF/FICA; Fund 60 capital projects; Fund 70 working cash; Fund 98 life‑saving). The presenter said FY25 expenditures were “about $2,025,000” as recorded in the packet and that FY26 spending finished at levels comparable to FY25.

The presenter said FY27 budgeted expenditures are higher largely for two reasons: conservative budgeting to prepare for uncertainties and planned capital work that did not complete in the prior year. “We still have a little bit over $1,000,000 in outstanding capital projects,” the presenter said, and noted the district’s track project did not start until July because of rains and permitting and therefore will move into the FY2027 budget. The presenter summarized that the district expects about a $266,000 deficit in the current projection, leaving a fund balance of roughly $20.4 million and describing the district’s finances as healthy and sufficient to cover planned investments.

The presenter also reviewed revenues, saying the district realized about 98% of its FY25 revenue budget and that state evidence‑based funding (the district is a tier‑1 district) and local property taxes together make up most of revenues (state ~50%, local ~40%, federal ~10% as presented). The packet and public display of the tentative budget will be posted beginning Wednesday; the presenter reminded the board that the budget is tentative and not formally adopted until September.