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School District Financial Reporting Webinar

• 2023 School District Workshop Recording - June 29, 2023​​
  
• ​2023 Illinois State Board of Education – School District Workshop Presentation​​​​
  

FY 2024-25​

• FY 2025 Budget Form (SD50-36/JA50​-39)
  
• ​ Budget Form In​structions
  

FY 2023-24 Amended Budget Form

• FY 2024 Budget Form (SD50-36/JA50​-39) ​​​
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• Make budget available for public inspection 30 days prior to adoption.​
• Publish notice of public hearing at least 30 days prior to hearing date.​
• Hold public hearing prior to adoption.​
• September 1 – Joint agreements must adopt budget. Post budget to website (if any) immediately after adoption.​
• September 30 – School districts must adopt budget. Post budget to website (if any) immediately after adoption.​
• October 1 – Joint agreement budget is due to ISBE.​
• October 31 – School district budget is due to ISBE.​
• June 30 – Adopt amended budget and send to ISBE.​​
  

• ​Operational Funds Reserve Reduction Plan Instructions
  
• Operational Funds Reserve Reduction Plan Template
  

When Submitting:

• Submit budget on correct year's form as Excel format. Do not remove tabs. Do not use form from prior years. ISBE cannot accept PDF.
• On Cover tab:
  
  • Select district name from dropdown menu. Do not type full district name or information will not autofill.
  • Choose accounting basis.
  • Type dates.
  • Type board names.
• Fill in all necessary information.
  
• NEW - EBF Spending Plan 30-34 tab.
• Review Itemization tab. Include brief note(s) for itemization, if any are required.
• Review Balancing tab and correct any errors flagged on this page.

Failure to follow the above will result in your form being returned for corrections.

To Submit FY25 Budget to ISBE:

• Submit the completed budget through the IWAS -School District Financial Report System​​.

To Submit FY24 Amended Budget to ISBE:

• Submit the completed amended budget through the IWAS -School District Financial Report System​​​.​
  

• Illinois Administrative Code (Part 100) (see Section 100.130 and Table C) requires school districts/joint agreements to follow the rules for accounting, budgeting, financial reporting, and auditing.
• Illinois School Code (105 ILCS 5/17-1) requires all school districts and joint agreements to prepare and adopt an annual budget.
• Illinois School Code (105 ILCS 5/17-1) requires joint agreements to adopt budget no later than September 1 annually.
• Illinois Administrative Code (Part 100) (see Section 100.90) requires all school districts to submit their adopted budget to the Illinois State Board of Education no later than October 31 annually.
• Illinois School Code (105 ILCS 5/17-1.2) requires those school districts who maintain a website to publish the adopted annual budget to their website and notify all parents of its availability and website address. The website must be maintained with the most current budget.
• Illinois School Code (105 ILCS 5/10-20.21) requires districts to complete and submit a "Vendor Contracts 28" report. This report is on tab 28 of the school district budget form. ​
  

• Mechanics of the School District Budget
  
• Please note the Mechanics of the School District Budget have not been updated to include the most recent GASB 84 requirements.
  
• 2023 School District Workshop Recording - June 29, 2023​​
  
• ​2023 Illinois State Board of Education – School District Workshop Presentation​​​​​
  
• Historical Archive – To review past Budgets (Available 2007-22)​
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