Board Report October 2025

PONTIAC TOWNSHIP HIGH SCHOOL DISTRICT NO. 90 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2025

NOTE 8— OTHER REQUIRED INDIVIDUAL FUND DISCLOSURES Generally accepted accounting principles require disclosures of certain information concerning individual funds including: A. Excesses of expenditures over budget in individual funds: Actual Expenditures Budgeted Expenditures Excess over Budget Operations & Maintenance (O&M) $ 1,272,529 1,219,750 $ 52,779 Debt Service Fund* 555,502 428,000 $ 127,502 Transportation Fund $ 1,202,221 1,188,500 $ 13,721 Capital Project 595,186 550,000 $ 45,186 *Includes transfers to reclassify lease payments

B.Deficit Fund Balance of individual funds: NONE

C. Transfers

Transfers From

Transfers To Debt Service Debt Service

Amount

Operations & Maintenance

$ 428,000 $ 127,775

Education

Operations & Maintenance fund transfers were made to the Debt Service fund for payment of loans and loan costs in the Debt Service fund. Educational fund transfers were made to the Debt Service fund to classify lease payments as debt services for reporting in accordance with GASB 87 for leases. NOTE 9— RISK MANAGEMENT The District is exposed to various risks of loss related to torts; theft of, damage of, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The District carries commercial insurance for the above-mentioned risks. There have been no significant reductions in coverage from the prior year and settlements have not exceeded coverage in the past three years. The District elects to be self-insured for unemployment insurance. The District is therefore liable to the State for any payments made to any of its former employees claiming benefits. The District is insured under a retrospectively-rated policy for workers' compensation coverage. The initial premium may be adjusted based on actual experience. Adjustments in premiums are recorded when paid or received. During the year ended June 30, 2025, there were no significant adjustments in premiums based on actual experience. NOTE 10— CONTINGENCIES AND COMMITMENTS The District receives funding from state and federal grants which are subject to audits by the granting agencies. Management believes any adjustments that may arise from these audits will be insignificant to the District's operations. NOTE 11 — RETIREMENT PLANS The School District participates in two retirement systems: The Teachers' Retirement System of the State of Illinois (TRS) and the Illinois Municipal Retirement Fund (IMRF). The District contributed $185,413 to these plans during the fiscal year. The remainder of the employer obligation is funded from on-behalf payments made by the State of Illinois.

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