Budget Process

Learner Profile

Budget Process

State law and the School Code of Illinois govern the policies and procedures of school finance. The budget is a detailed financial plan for the new fiscal year, which runs from July 1 through June 30. The process begins in December of each year with the development of the budget calendar and the preparation of a five-year forecast based on enrollment projections, and estimates on revenue and expenditures. The budget seeks to achieve the strategic priorities of the District.

The budgeting process is comprised of three major phases: Planning, Preparation, and Evaluation. Budget Planning aligns the budget plan to assure fund balance is in alignment with the Board Fund Balance Policy, meets the assumptions for revenue growth, and the increase in expenditure levels to support program initiatives and facilities improvements. The recommended budget is in line with established assumptions and district priorities during the budget Preparation. Budget Evaluation takes place on a continuous basis, where information is compiled and analyzed to assess the performance of each individual building and department as well as the District as a whole.