School District 72 trustees have received audited financial statements for the year ending June 30th.

The audit showed that the district had a cash balance of nearly $16 million, lower than last year because of timing on capital project funding.

The district ended the year with an accumulated surplus of $6.5 million.

For the year, the district had $94 million in revenue and $96 million in expenses, leaving a deficit of $1.9 million.

Most of the district’s costs continue to be salaries and benefits, which make up about 85 percent of all expenses.

These costs rose due to wage increases but remained close to budget. Instruction was again the largest area of spending.

The operating fund ended the year with an accumulated surplus of $1.26 million, which is a drop from $2.6 million the year before.

During the year, $329,000 from the operating fund was used to purchase capital assets and $204,000 was transferred to local capital for future projects.

The local capital reserve grew to more than $800,000. The unrestricted surplus, which is money available for unexpected costs, declined to $832,000. This is less than half of last year’s $1.8 million.

Auditor Graham Roberts told trustees that the district remains in a positive financial position. However, the unrestricted surplus is below the district’s own policy of holding about two percent of revenues, or $1.5 million, as a contingency.

Secretary-Treasurer Kevin Patrick explained that while keeping too much in surplus means resources are not being used for students, it is still important for the district to keep a healthy buffer to cover unexpected costs.

For highlights of the September 23, 2025 public meeting of the Board of Education, visit School District 72.