Financial Report Shows Projected Surplus and Debt Service Transfer

Crete-Monee School Board Meeting | February 17, 2026

Article Summary: The Crete-Monee School District presented its monthly financial report, projecting a year-end surplus in operating funds despite ongoing billing issues in transportation. A planned transfer of $2.25 million was executed to service debt.

Financial Report Key Points:

• Surplus: The district forecasts a fiscal year-end surplus of approximately $237,506 in operating funds.

• Revenue: Local tax revenue is currently projecting a $1.2 million favorable outcome.

• Debt Service: A $2.25 million transfer was processed from the Education Fund to Debt Service for bond payments.

• Billing Issues: Approximately $2.8 million in transportation invoices remain pending due to billing issues.

The Crete-Monee School District 201-U Board of Education reviewed the monthly financial report for the period ending January 31, 2026, during its meeting on Tuesday, February 17, 2026.

The report, prepared by Assistant Superintendent for Business and Operations Jason Okrasinski and Director of Finance Brian Johnson, projects a year-end surplus of $237,506 across operating funds (Educational, Operations and Maintenance, Transportation, Working Cash, and Tort). This projection includes a favorable outcome in local tax revenue estimated at $1.2 million.

The report noted a significant inter-fund transfer processed in January. A total of $2.25 million was transferred out of the Education Fund to the Debt Service Fund to pay for Alternate Revenue Bonds.

Operational challenges were also highlighted in the report. The administration noted ongoing billing issues resulting in approximately $2.8 million in transportation invoices that are currently pending payment.

The Board voted to approve the financial report, including the Treasurer’s Report and the authorization of the bill list.