North Egypt News

Minooka Community High School District 111 Board of Education met Sept. 17.

Here are the minutes provided by the board:

BUDGET HEARING 

CALL TO ORDER 

The Budget Hearing was called to order in the Minooka Community High School – Administration  Building by President Laura Hrechko at 6:00 p.m. A physical quorum was present with the following  board members present: Terry Spivey, Mike Hoyt, Jim Grzetich and Bert Kooi. Additionally, present  were John Troy, Dr. Phil Pakowski, Kristi Boe, Dr. Rob Schiffbauer and Michele Williamson.  

PUBLIC COMMENTS 

There were no comments from the audience. 

PRESENTATION OF 2024/2025 ANNUAL BUDGET 

The 2025-2026 Budget was provided in the board packet for review. Board members were presented  with information regarding the FY26 Budget by Assistant Superintendent John Troy. The Illinois  School Code requires the district to adopt an annual budget by September 30th each year and at least 30  days’ notice was published in the newspaper. The district received a score of 3.9 out of 4.0, the highest  rating of “Recognition” from the Illinois State Board of Education. Mr. Troy pointed out that per fund  balance Board Policy 4:20 which states: “The School District seeks to maintain a year-end fund balance  to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education's  School District Financial Profile.” The district’s fund balance to revenue ratio is 105 % which received  an excellent rating from the ISBE. This does correlate to the Working Cash includes proceeds from the  bonds that was issued in the Working Cash Fund. Mr. Troy added that taking that out the district would  have a ratio of approximately 60% which is in compliance with the Board’s directives. In addition, per  Illinois School Code, Fund Balance Disclosure is provided to the Board and public in the monthly  reports and are made public online. Mr. Troy reported that new this year per Illinois School Code is the  Operational Fund Balance to Expense which states: “If the combined year end fund balance is 2.5 times  more than the three-year average of combined expenses in the operations funds, then a written fund  balance reduction report must be filed with ISBE.” Mr. Troy stated the district’s combined Operations  Fund Balance to 3-year average of combined Operations fund Expense ratio is 0.67 which is in  compliance with ISBE and therefore no report is required. Mr. Troy reviewed the transfers expected  throughout the course of the year and were also provided in the board packet. He explained that the  Education Fund now includes approximately $10 million on-behalf pension payments which is included  as a Revenue and an Expense so to it nets out to zero. The Levy revenues are estimated to increase by  6% in Kendall and Grundy Counties and 10% in Will County due to increase valuations. The estimated  Fund Balances for June 30, 2026 were provided and will be compliant with the Board’s fund balance  Policy 4:20 after this budget cycle. There were no concerns or objections for approval of the FY 26  Budget at the regular board meeting.  

MOTION: by Hoyt, seconded by Spivey, to adjourn the hearing. Hearing no objections. Motion was  approved. Time: 6:10 p.m. 

https://meetings.boardbook.org/Public/Agenda/1417?meeting=711818