At the January 19, 2021 Naperville Community Unit School District 203 Board of Education meeting, the Board voted to use $10 million in surplus funds to provide Naperville 203 tax payers with financial refunds.
In the fiscal year ending 2020, Naperville 203 had an unexpected budget surplus due to less than expected expenditures due to the COVID-19 pandemic. While the pandemic caused some expenditures to increase, other budget items have not been spent as planned leaving a surplus.
The Board approved a Resolution (#2101-01) Creating a Tax Reimbursement Account for the Deposit of Surplus Funds. Naperville 203 Board of Education is directing the Naperville 203 Treasurer to provide a one time disbursement of surplus funds to property owners of record as of January 19, 2021. Total cost of the tax reimbursement of the designated surplus in the amount of $10,000,000. The complete contents of the Resolution can be found here.
“Naperville 203 understands the great burden many of our families have faced during the COVID-19 Pandemic and hopes that this reimbursement lessons that burden,” said Dan Bridges, Superintendent of Schools. “Each year the District creates a fiscally responsible and attainable budget, but the pandemic meant that some projected expenses in areas like utilities and staffing were not fully achieved, thus leaving the District with a surplus.”
At this time, no action is required by property owners and more information will be forthcoming from the District regarding timing of refund.
