The Geneseo Community Unit School District 228's proposed FY27 budget outlines how much money the district expects to receive, spend and have remaining during the 2026-27 fiscal year.
The district's finances are divided among several funds. Each fund is used for different types of expenses, such as education, transportation, building operations and debt payments.
The Education Fund is the district's largest operating fund. It pays for much of the day-to-day operation of the schools, including salaries, employee benefits, instructional programs, supplies and special-education expenses.
For FY27, the district is budgeting approximately $24.56 million in direct Education Fund revenue and approximately $29.14 million in expenditures.
The budget also includes a $3 million transfer from the Working Cash Fund to the Education Fund.
After revenues, expenditures and the transfer are included, the Education Fund is projected to decrease by approximately $1.57 million during FY27.
The Education Fund begins the year with a projected fund balance of approximately $6.44 million and is projected to end the year at approximately $4.87 million.
Where Education Fund revenue comes from
The district expects approximately $16.18 million from local sources.
Approximately $6.68 million is expected from the State of Illinois. That includes approximately $6.15 million in Evidence-Based Funding.
Federal revenue is budgeted at approximately $1.70 million.
Together, those sources account for approximately $24.56 million in direct Education Fund revenue.
Salaries and benefits
Salaries are the largest expenditure category in the district's budget.
Across all district funds, approximately $18.46 million is budgeted for salaries.
Approximately $5.90 million is budgeted for employee benefits.
Within the Education Fund, approximately $16.53 million is budgeted for salaries and approximately $4.72 million for employee benefits.
The Education Fund also includes approximately $1.28 million for purchased services and approximately $1.99 million for supplies and materials.
The budget includes approximately $4 million for special-education programs and tuition. Other special-education expenses, including salaries, benefits and transportation, are included elsewhere in the budget.
Transportation Fund
The district expects approximately $2.51 million in direct Transportation Fund revenue and approximately $2.81 million in expenditures.
The budget includes a $300,000 transfer from the Working Cash Fund into the Transportation Fund.
After the transfer and other budgeted activity, the Transportation Fund is projected to end FY27 with approximately $896,608, compared with a beginning balance of approximately $893,968.
The district expects approximately $1.37 million in state transportation funding, including approximately $1.18 million for regular and vocational transportation and approximately $185,000 for special-education transportation.
Operations and Maintenance
The Operations and Maintenance Fund covers expenses associated with district buildings and facilities.
The fund begins FY27 with approximately $2.56 million.
The district projects approximately $2.79 million in direct revenue and approximately $2.74 million in direct expenditures.
The fund is projected to end FY27 with approximately $2.66 million after other budgeted sources are included.
Working Cash Fund
The Working Cash Fund begins FY27 with approximately $5.29 million.
The district's budget calls for transferring a total of $3.3 million from Working Cash during FY27.
Of that amount, $3 million is budgeted for transfer to the Education Fund and $300,000 to the Transportation Fund.
The Working Cash Fund is also projected to receive approximately $310,000 during FY27.
Its projected ending balance is approximately $2.30 million.
Other district funds
The district budget also includes several other funds with specific purposes.
These include the Municipal Retirement/Social Security Fund, Debt Service Fund, Capital Projects Fund, Tort Fund and Fire Prevention and Safety Fund.
Money budgeted within those funds is used for expenses associated with their respective purposes and is reported separately from the Education, Transportation and Operations and Maintenance funds.
Fund balance and cash balance
The state budget form separately reports projected fund balances and projected cash balances.
The Education Fund, excluding student activity funds, is projected to end FY27 with a fund balance of approximately $4.87 million.
Its projected cash balance is approximately $3.79 million.
Approximately $400,000 in student activity funds brings the projected Education Fund cash total, including those funds, to approximately $4.19 million.
The FY27 budget
The FY27 budget is a financial plan for the fiscal year. The figures represent projected revenues, expenditures, transfers and balances rather than final FY27 results.
The School Board will consider the budget as part of its annual budget process before adopting a final FY27 budget.
