With no new large-scale revenue sources looming on the horizon, Naperville School District 203 officials are planning to get out their scalpels and make trims to the expense side of the ledger to address future financial shortfall projections.
Administrators at a board of education meeting Monday, Feb. 2, provided an update on a 5-year financial forecast that was first discussed in November.
An updated look at the 5-year financial forecast
Mike Frances, Naperville 203’s chief financial officer, indicated several pieces of data have come into sharper focus since the presentation last fall, including the 2026 consumer-price index of 2.7%. The figure reflects the maximum tax increase that can be levied at the end of this year for the 2027-28 school year budget.
“The estimated CPI used in November was 3%, so this slightly lower value has a negative impact on revenue, moving forward,” Frances said during his updated presentation. “Any salaries that also are tied to the CPI were also adjusted accordingly.”…