Do I have a motion? >> I move that the school board approve the consent agenda items as presented. >> Second. >> Any questions? All right, Lisa, please take role. >> Dan, >> yes. >> Kelly, >> yes. >> Sarah, >> yes. >> D, >> Yes. Motion passed. Next on to business services. >> Are you guys come on? >> All right. Good evening. Uh I'd like to uh introduce Marlene Medina and Rich Burna from the firm of Warmer, Rogers, Dorne, and Rusen. They are here to present to you the fiscal year 25 audit. Uh on Monday evening, we went through a uh um an audit um kind of preview at our business or building and finance uh meeting. Um in front of you tonight are some documents, a bound audit financial report. We have the bound single audit report, the management letter, and an audit comm uh conclusion communication.
So, do you want me to make a motion, Trisha? I'm sorry. >> I'm sorry. What was that? >> Do you want me to make a motion to Do we need to vote on this >> process, if you will? >> I don't think we need to, but to make it official, we can do it. >> Want to, you could. Doesn't hurt. >> Sure. I'll I'll make a motion to approve the um the process outline and that memo to both boards that was created by myself and Yolanda, including the the next steps is outlined by Yolanda of the email, the post to the public with the goal of delivering names by the April 1 date. >> All right. So, um >> is there a second? >> Oh, yeah. Yeah, we need a second. >> Okay, there's a second. Planning board will call vote. >> Deepen. >> Anna Tesmanitzki.
So, I'm going to let them speak, go through the presentation. They can answer any questions that you guys have. Thank you >> and thank you for your patience. We have some good stuff presented. So, thank you. >> I thank you for having us. Um, you can go to the next slide. Thanks. Yeah, we are here. We're going to start with the annual financial report and then if you have your reports with you, uh you can feel free to open up your pages. If not, it's just going to be a highle discussion over the audit. You don't have to feel like you need to go through each page. Um but we're going to start with the independent auditor's report on pages one to three. And this is kind of what that sums up uh at the end of the the um independent auditors report. and it just really comes to say that you received an unmodified opinion which means that you received a clean audit.
I >> Paulino. I >> and Trisha Kendall. I >> select board vote. >> Greavves. I >> kinsman I >> minani. That's 5. >> All right. Okay. >> So, do we need anything to do anything else in joint meeting? That's all that's on our agenda. Right. That's it. >> So, you guys going to get out of here and leave us alone? >> Yeah, we'll get you let you get back to your job. >> That's not the bum rush. I don't know what is >> motion to motion to adjourn the select board meeting. >> Second. >> All those in favor? >> I >> All those opposed. >> Okay, that's 8:22. >> Thank you, Select Board. >> Thank you. >> Always a pleasure. >> Thanks, guys. Good night. >> Thanks, Brandy. >> When we go to their meeting, that'll be the best part. They always get to leave our meetings early if we have to stay, but we can.
>> Could I ask um I know there's some people chattering in the audience and out of respect to all the speakers, thank you so much. And then moving forward, uh, on page 62, we're going to talk about the general fund because it's one of the major funds that kind of drives the school's performance and kind of the metrics that a lot of you rely on. The general fund consists of the education fund, the operations and maintenance account, and the working cash. Um the ending fund balance for the year was $47.3 million with $2.3 million in restricted for student activity funds. Um 2.3 which is assigned to the FY26 budgetary shortfall and then 44.9 million which is the unassigned balance which is kind of left over for everything else that the school needs to operate. And then the educational account, we're gonna just kind of talk on the high level of the financial health.
>> You're more than welcome to stay. The only email we received was the one that was already mentioned several times about the um the precincts being represented. I could be wrong about that, but I think I'm not. >> That is correct. You did receive one this evening while we were here. So, you probably want to discuss that at your next meeting because none of you have had a chance to see that. We got one today. >> Okay. >> Um, next. >> Wait, was that the Was that the one about the They were asking if our letter was sent >> to Hawin. >> Yeah. >> Yes, it was. >> Okay. So, >> can I can we just Was the letter sent? >> Yes, the letter was sent. >> Okay. That's all I was >> Okay. I just didn't know. I You might have been the only one who had read it.
It's the revenues were 187 million for the year. The primary driving factor of that is property taxes. Um the expenditures were 188 million. Um and the there was a deficiency of 899,000 for the year and the ending fund balance is 47.3 million. And then on page 14, um this just kind of shows the change in the fund balance for the year for each of the major funds. And then the um I I think that if you'd like to look at that closer, it's on page 14. And then the notes of the financial statements, the debt at the beginning of the year was $29 million. You made your annual um payments of $2.9 million and the payment due next year is 2.99 million. And then Marlene is going to take on the next section. So yes, uh you can go to the next slide. Yes. So overall the school district uh the financial profile scored for this year or fiscal year 2025 was 3.9 out of four placing the school district in the highest recognition category under the state guidelines.
So, >> I didn't know the answer though. Like, so I don't know like the letter was sent. >> Yes, the letter was sent to But >> that was the question. That was the email. Somebody asked if the >> Susan Thornton, right? Is that >> if they asked if we sent >> perfectly appropriate and on target. So, thank you for that. Um, >> uh, item number four is public comment. Um, I will open it up for public comment. Um, I will limit the time limit though per per speaker to two minutes if there is any public comment. There's one comment or one hand up I should say. You may speak if you're ready. >> Sorry. Joan Gon Freddy. If you would identify yourself and speak, you may. >> Yes. Um, hello. Joan Gonady. Um, I'm on the historical commission speaking as an independent person. Um, I have a I have a a comment.
This reflects strong financial management in a good budget. The district overall maintain appropriate reserves are operating within the approved budget and are not relying on fund balance to support ongoing operations. Um you go to slide. So yes overall the district has precision is stable. The debt le the debt levels remain within legal limits. Uh the next title would be the single audit. So this uh summarizes the need for the single audit. A single audit is required when a district spends more than $750,000 in federal funds in the fiscal year. During the fiscal year, the district spent approximately 4.6 million in federal funds, much of which came from the special education cluster at 2.1 million. We the single audit is a federal compliance audit. It is a standard requirements once federal funding reaches that threshold. The district is required to demonstrate that this funds are spent in accordance with federal guidelines and the required testing was completed as part of the single audit.
Oh, excuse me. Sorry about that. Um, I have a comment about the um the um housing performance housing plan. Um, I have a concern that um that I'd just like to just like to bring up on page 56 and 57 and it's about the water. Um, it says it says very clearly that that we are operating well below our threshold and I I don't believe that to be true. Um, maybe right now we are. However, if I did a um I did a workup of all of the proposed plans in town using the Haley Ward um calculations and it comes down to there are two different types of calculations. One calculation leaves us with 79,000 um gallons per day and the other one leaves us with 10,000 gallons per day. And um that's about 1 to four gallons per day per person in town. And that to me is very concerning.
This uh reflects that the federal fundings were um spent correctly. And then this slide is a summary of the auditor's results or our results. Uh this summarizes both the audit uh results as well as the single audit. Um, so like Rich uh noted the uh un the overall audit had an unmodified opinion meaning that it was free of material misstatements, no significant w deficiencies, no material instances of non-compliance. This also as well talks about the federal portion of the audit meaning that they also had an unmodified opinion. Each major program was within the federal limits. no material weaknesses as well as deficiencies or no reportable audit findings. In summary, the audit results reflect strong internal controls, proper oversight of federal funds, and a compliance with applicable regulations, meaning a clean audit. And then in your packets, you will also have other deliverables. So here we have um aside from the financial statement, the single audit report, we're also required to communicate our planning documents as well as our the conclusion of the audit and you will also have adjusting journal entries in those reports.
And so I think that it's a little bit misleading to with the verbiage that's in here is mis misleading. I think it needs to be something more to the point of we're working towards some kind of um increase to infrastructure to support housing. Um I'm not sure what exactly what that would be, but I think we have the same issue with sewer. And I think we also um given that all of the developments that are being proposed could theoretically increase our um population by almost 24%. That we should also be looking at the rest of our infrastructure, schools, police, and fire. Um it but the water is the most concerning to me. I mean, one gallon per day extra is not I don't know about you, but just brushing your teeth probably takes a gallon. So, um I think that you know it's it's it's something that the whole town should be concerned about and I've asked I sent it to the select board and I sent it to the town manager and I will I will copy you on it just so you have have it for reference but I believe that the calculations are um pretty close to accurate um based on the Haley Ward calculations.
Um we also issue a management letter. Um we are happy to report that two of the prior year comments were removed uh specifically relating to the student activity funds as well as the economic interest statement. We also note that there were no new comments for this year. However, two two items do remain on there. Uh one for the expenditures in excess of the budget and the other one for federal compliance procedures. The items are again not material weaknesses. They're just um areas where we ask for continue attention to improve um in as we move forward through the years. Overall, the district demonstrated progress in addressing the prior year comments and has maintained consistent oversight throughout the year. And we also just want to point out that you know the team was great this year. Uh our requests, our questions were answered promptly. So we had a really good year coming out to do the audit.
So um so that that is my um that is my my qu the other question was actually for Jen Golds and maybe you can ask or could um have the same concern and um it said she says that if we have an a housing performance plan that's approved then as long as we're doing some kind of development that we can stay in HSI. and yet we couldn't and I think that we'd fell out of HSI. So I guess I'm wondering is that really true? Can we stay in HSI if we're not at 10%. >> Um yeah, do you want to answer that one, Jasmine? >> Yes, thank you. So you can meet your not meeting your SHI with the housing production plan. What you're doing is you're showing incremental growth and it can put you in safe harbor based on meeting certain criteria. So you're not meeting your SHI via that, but you are being granted safe harbor by meeting your intimal incremental growth.
So, thank you to Jeff and John and Kevin. They were great. Any questions? Questions? >> Thank you for the team for a great year. >> And we were blessed everybody was at the building and finance on Monday. So, Jeff, good job representing as well. And thank you. I concur with member Jabber. Thank you for all the hard work and we're proud of our district's efforts and financial status. >> Yes. Thank you. >> Are you ready for a motion? >> Uh, I move that the school board approve the resolution calling on the Oh, I'm on the wrong one. I'm sorry. Uh, I move that the school board accept the audit for the fiscal year ending June 30th, 2025. >> Second. Okay.
So it's a statutory um sort of um goal that you can meet. So you're still not under safe harbor at all. You're not under your safe harbor goal. I not in your um subsidized housing inventory goals, but you get safe harbor for one to two years depending on the timing of the project. So, could we have I I I agree. I my my wording was wrong. Um but um so could we have theoretically been in safe harbor when we received all of the and one or any of these developments? >> No, you lost Safe Harbor as soon as the Arbella went into litigation. >> Yes. So, we were in Safe Harbor um based on the Friendly 40B project that was on Memorial Drive, but when that went when that went into litigation, we fell out of Safe Harbor um because those units weren't going forward.
Any questions? All right. Lisa, you may take the role. >> Member Dan. >> Yes. >> Member Kelly. Yes. >> Yes. Motion passed. Do you want to stay on a roll? Member Case, >> you're on a roll wanting to read the next one. >> Bob should probably talk about it at least first, right? >> No, we got to do the motion. >> No, that you have to do the motion. I move that the school board approve the resolution calling on the Cook County Treasurer and other Cook County official officials responsible for theure >> issuance of property tax bills to resolve systemat systemic um issues as presented. >> Second. >> Great.
>> So, um >> you would have been >> Yeah. Yeah. So, >> I mean, I knew we still fell out of HSI, but I didn't but based on what she said, I'm wondering if >> you don't you don't fall out of HSI, though, or SHI like we we don't we're not at the 10%. So, we're not there's nothing to fall out of. Well, I guess I guess if you were over 10%, you could fall out of it, but we've never been at 10%. >> Okay. >> So, we've only been in an incremental safe harbor because we were adding units. We were given a temporary safe harbor, but you can only have a temporary safe harbor if you have a an active housing production plan, and that's what she was talking about. >> Okay. Okay. All right. >> Okay. >> Thank you for that. I appreciate it.
Any questions? >> Um I just um I I did communicate with Dr. Noting earlier. This is going to all county schools both >> uh >> this resolution. >> Yeah. So, the majority of schools have been asked. Um I can't uh verify which school districts are participating, but um Jeff and I have been on kind of some some communication loops u with regard to that and it seems a significant number of Cook County schools are signing off on this. Um majority of of well, I shouldn't say that. Uh a large number of schools may not have had the financial impact that District 230 has had as a result of this. Um but those that have I think are generally signing off on the same um proclamation or uh resolution, excuse me. >> And then one con one final question what um what came to the idea to identify Cook County Treasure um and the recommended motion and not Tyler technology at all or I just like what what um decided that Cook County Treasury has to be mentioned in their in their motion with Yeah.
Yeah. Sure. But we will um make note of the water sewer on page 5657 and maybe um you know ask uh um Jen Goldstein to um Goldson, sorry, to um confirm their numbers um and ask what you know ask a little bit more specifically what where those numbers come from. >> It says there that they use the Haley Ward. Um one of them they they it lists them on the page. You'll see that. Um but I think what's missing is the the combined projects that are proposed and what's left after that. >> Right. And I do believe they have been considering those but we will um uh but but that'll be part of the question. So >> Okay. >> We'll look at that. >> Okay. Thank you very much. >> Thank you. >> All right. Have a good night. >> You too. Um and I don't see any more hands up for public comment.