Board Policy 3110
Budget and Levy Process
The Superintendent, or his/her designee, is responsible for the District’s fiscal and business management. This responsibility includes annually preparing and presenting the District’s statement of affairs to the School Board and publishing it before December 1 as required by State laws.
Each March, the Superintendent or designee will develop a proposed budget calendar.
The District’s fiscal year is from July 1 until June 30. The Superintendent or designee shall present to the Board, no later than the first regular meeting in August, a proposed budget with appropriate explanation, including any discussion regarding a contingency budget. This budget shall represent the culmination of an ongoing process of planning for the fiscal support needed for the District’s educational programs. The District's budget shall be entered upon the Illinois State Board of Education's "School District Budget Form (ISBE Form 50-36)." To the extent possible, the proposed budget shall be balanced as defined by the Illinois State Board of Education guidelines. The Superintendent shall complete a tentative deficit reduction plan if one is required by the State Board of Education guidelines.
Proposed Budget Adoption Procedures
After receiving the tentative budget, the Board will set:
- The date, place, and time for a public hearing on the proposed budget;
- The date, place, and times for the proposed budget to be available to the public for inspection.
The Board Secretary shall make arrangements to publish a notice in a local newspaper stating the date, place and time of the proposed budget’s availability for public inspection and the public hearing. The proposed budget shall be available for public inspection at least 30 days before the time of the budget hearing.
At the public hearing, the proposed budget shall be reviewed and the public shall be invited to comment, question or advise the Board regarding the tentative budget.
Final Budget Adoption Procedures
The Board shall adopt a budget before the end of the first quarter of each the fiscal year (Sept. 30 of each year), or by such alternative procedure as State law may define. To the extent possible, the budget shall be balanced as defined by the Illinois State Board of Education; if not balanced, if required, the Board will adopt a deficit reduction plan to balance the District's budget within 3 years according to Illinois State Board of Education requirements.
The adoption of the budget shall be by roll call vote. The resolution adopting the budget shall be incorporated into the meeting’s official minutes. The Board members’ names voting yea and nay shall be recorded in the minutes and appropriate signatures shall be placed on the Final Budget document.
The Superintendent or designee shall perform each of the following:
- Post the District’s final annual budget, itemized by receipts and expenditures, on the District’s Internet website; notify parents/guardians that it is posted and provide the website’s address.
- File a certified copy of the budget document and budget resolution, and an estimate of revenues by source anticipated to be received in the following fiscal year, certified by the District’s Chief Fiscal Officer, with the County Clerk within 30 days of the budget’s adoption or by September 30, whichever is sooner.
- Make all preparations necessary for the Board to timely file its Certificate of Tax Levy, including preparations to comply with the Truth in Taxation Act; file the Certificate of Tax Levy and associated certifications and resolutions with the County Clerk on or before the last Tuesday in December. The Certificate lists the amount of property tax money to be requested for the various funds in the budget.
- Submit the annual budget, a deficit reduction plan if one is required by Illinois State Board of Education guidelines, and any other financial information to the Illinois State Board of Education in a timely manner according to its requirements.
Budget and Levy Amendments
Any amendments to the Final Budget or Certificate of Tax Levy shall be made as provided in The School Code and in accordance with the Truth In Taxation Act. The Board may amend the budget by the same procedure as provided for in the original adoption, as required by law.
The Superintendent or designee is responsible for implementing the District’s approved budget and shall provide the Board with a monthly Budget and Program Report for both Revenues and Expenditures. The total amount budgeted as the expenditure in each fund is the maximum amount which may be expended for that category, except when a transfer of funds is authorized by the Board. The Board shall be notified regarding any expense that has the potential to be charged against the contingency budget.
The Board shall act on:
- all expenditures;
- all transfers from one fund to another.