Huntley Development News

District 158 Tentatively Approves FY27 Budget with Operating Surplus, Addresses Rising Health Insurance Costs and Long-Term Financial Planning

The board reviewed and tentatively approved the FY27 budget, which includes a $2.7 million operating surplus when excluding capital projects, or a $1.5 million surplus when including them. Key assumptions for the budget include a 2.7% CPI for the current levy year and an estimated 3.8% CPI trend for the next levy year, with new construction projected at $20 million. State funding is expected to decrease by $400,000, while local revenues are projected to increase by $3.6 million. Salary and benefits account for 83% of expenditures. Significant attention was given to health insurance costs, which are trending significantly over budget and are a major focus for potential savings. The budget also reflects a $2.8 million capital expenditure for a DX cooling project at Heineman, offset by a $661,000 ComEd rebate. The five-year financial plan was presented, highlighting potential deficits in later years under worst-case scenarios due to flat state funding and rising costs, suggesting potential need for future revenue-generating measures or cost-saving strategies.