Governmental Funds

Financial Section

The District’s fund structure is comprised of Governmental Funds, consisting of Operating Funds, Debt Service Funds, and Capital Projects Funds. The Operating Budget is comprised of six (6) of funds; Educational, Operations & Maintenance, Transportation, Municipal Retirement/Social Security, Working Cash, Tort Immunity and Fire Prevention & Safety Funds.

The following table presents a summary of total projected revenues and other financing sources, and total proposed expenditures and other financing uses for all funds for fiscal year 2022-2023. To provide an overview of all revenue sources and expenditures for the entire district, all funds are compiled in the table below.

Beginning Balance Revenues Expenditures

Other Financing Surplus / Budgeted Sources / (Deificit) Ending Balance Governmental Funds (Uses)

Educational 37,317,413 139,525,592 136,607,839 1,414,261 4,332,014 41,649,427 Operations & Maintenance 2,495,810 14,042,873 13,020,372 0 1,022,501 3,518,311 Transportation 8,132,286 13,297,726 15,631,584 -28,992 -2,362,850 5,769,436 IMRF/Social Security 3,071,849 3,063,655 4,171,503 0 -1,107,848 1,964,001 Working Cash 2,299,348 3,450 0 0 3,450 2,302,798 Tort Immunity 243,653 503,758 599,255 0 -95,497 148,156

Total Operating Funds 53,560,359 170,437,054 170,030,553 1,385,269 1,791,770 55,352,129

Debt Service

2,915,742 11,229,721 12,791,717 1,813,930 251,934 3,167,676 Capital Projects 124,884,920 341,216 54,924,495 0 -54,583,279 70,301,641

Total Non-Operating Funds 127,800,662 11,570,937 67,716,212 1,813,930 -54,331,345 73,469,317

Total Governmental Funds 181,361,021 182,007,991 237,746,765 3,199,199 -52,539,575 128,821,446

Governmental Funds

The following is a brief explanation of how the District accounts for its funds. The: • Educational Fund accounts for the majority of the instructional and administrative aspects of the District’s operations; • Operations and Maintenance Fund accounts for repair and maintenance of District property; • Transportation Fund accounts for activity relating to student transportation to and from schools and for extracurricular and co-curricular activities; • Municipal Retirement (IMRF)/Social Security Fund accounts for the District’s portion of personnel pension costs; • Working Cash Fund accounts for inter-fund borrowing; • Tort Immunity Fund accounts for expenses related to tort liability, insurance, and risk management programs; • Debt Service Fund accounts for the District’s bond principal and interest payments; and • Capital Projects Fund accounts for District capital improvements.