The Lincoln Way Board of Education on June 26 unanimously adopted an amended fiscal year 2025 budget that records a $2,014,712 operating surplus and approved a $4.5 million transfer for capital projects. Board members said the amendments capture late property-tax receipts and ensure compliance with the district’s fund-balance policy.

Board President opened the budget hearing and asked Treasurer Michael Dubeck to summarize the changes. Dubeck said the district received additional property-tax payments from the county before June 30 and recommended recording those receipts to help with fiscal year 2026 planning. "Final amended budget before you tonight in your packet materials includes an operating surplus of $2,014,712," Dubeck said. He said the recorded surplus preserves the district’s required fund balance of just over 34 percent.

Board members said they had no further questions during the hearing and later voted to adopt the amended FY2025 budget during the action portion of the meeting. The board also approved a separate, routine June transfer of $4,500,000 to the capital projects fund to pay for the summer 2025 project work and for projects that will be paid out of fiscal year 2026. "That's for the projects happening right now this summer that we will pay for out of fiscal year '26," a board member said during the discussion.

The board recorded the vote as unanimous. The district will submit the adopted amended budget to ISB and to its auditors for their fiscal-year review. The vote to adopt the amended FY2025 budget and the capital transfer were distinct formal actions taken in open session.

The board scheduled no additional action items directly tied to the amended budget at the meeting; staff said they will use the amended figures in next year’s budget development and provide standard drawdown and accounting documentation for auditors.

Board members present for the vote were Dana Barthold; Catherine Johnson; Joseph Kostick; Richard Lacine; Caitlin Olynyk; Deidre Stokes; and Erin Janick. Treasurer Michael Dubeck presented the budget material and responded to board questions. The board did not take any personnel or program decisions tied to the amended budget during the meeting.