Budget & Finance

District 65 Budget

Each year, we must create a budget that includes our plan for district revenues (funds brought in) and expenditures (funds spent). The budget must be made available to the public and serve as the basis for our annual tax levy.

Our tentative budget must be displayed at least 30 days prior to its adoption. In the spirit of transparency, a public hearing is held in advance to gather community thoughts and feedback.

Our School Board is responsible for approving our annual budget by September 30.

Financial Reports

The Annual Statement of Affairs contains a financial summary of a school district’s funds, tax rates, equalized assessed valuation, and enrollment. Summary information regarding employee salaries and payments to vendors is also contained in the report. School districts must submit the full electronic report to the Illinois State Board of Education before December 15.

The Annual Financial Report (AFR) is a standardized document that meets independent auditing and reporting requirements for public elementary, secondary school, and unit districts.

The AFR includes all funds, account groups, and other components that satisfy the school district’s audit requirements and provides levels of assurance to school administrators, staff, and other interested parties.

Contracts Over $25,000

In conformity with subsection (c) of Section 10-20.44 of the School Code [105 ILCS 5/10-20.44] (added by P.A. 95-707) school districts are required to complete the report on Awarded Contracts Exceeding $25,000. In addition, school boards must list on the district’s website, all contracts exceeding $25,000 and any contract that the school board enters into with an exclusive bargaining representative.

FY24 Contracts Over $25K

Compensation Reports

Public Act 097-0256:  Administrator and teacher salary and benefits reportEach school board shall report to the State Board of Education, on or before October 1 of each year, the base salary and benefits of the district superintendent and all administrators and teachers employed by the school district. For the purposes of this Section, "benefits" includes without limitation vacation days, sick days, bonuses, annuities, and retirement enhancements. View current report

Public Act 096-0434:  Salary compensation reportOn or before October 1 of each year, each school district in this State, including special charter districts, shall post on its Internet website, if any, an itemized salary compensation report for every employee in the district holding an administrative certificate and working in that capacity, including the district superintendent. The salary compensation report shall include without limitation base salary, bonuses, pension contributions, retirement increases, the cost of health insurance, the cost of life insurance, paid sick and vacation day payouts, annuities, and any other form of compensation or income paid on behalf of the employee. View current report

Public Act 097-0609:  IMRF compensation reportWithin 6 business days after an employer participating in the Illinois Municipal Retirement Fund approves a budget, that employer must post on its website the total compensation package for each employee having a total compensation package that exceeds $75,000 per year. For the purposes of this Section, "total compensation package" means payment by the employer to the employee for salary, health insurance, a housing allowance, a vehicle allowance, a clothing allowance, bonuses, loans, vacation days granted, and sick days granted. View current report