We take our responsibility seriously to be strong fiscal stewards of public tax dollars and maintain high quality, community schools. District 65 has earned the highest financial rating from the Illinois State Board of Education and has a strong bond rating of Aa2.
The Business Department is responsible for overseeing the financial and business operations. Areas of oversight include financial planning, budgeting, purchasing, fiscal accounting, fees, financial reporting, grants, insurance, payroll, transportation, food services, and accounts payable and receivable. The department also oversees construction projects and district facilities.
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.
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.
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.
Contracts Over $25K
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.
Certified (Administrator/Teacher) Compensation Report
Sections 10-20.47 and 34-18.38 of the School Code [105 ILCS 5/10-20.47 and 5/34-18.38 require school districts to report administrator and teacher salary and benefits to the Illinois State Board of Education. Illinois School Code states that each 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 [or the general superintendent of schools or chief executive officer] and all administrators and teachers employed by the school district. For purposes of this Section, “benefits” includes without limitation vacation days, sick days, bonuses, annuities, and retirement enhancements.
View the current Certified (Administrator/Teacher) Compensation Report
IMRF Compensation Report
Pursuant to a revision to the Illinois Open Meetings Act (Public Act 97-0609), which took effect January 1, 2012, every school district in Illinois must create an itemized salary compensation report for all IMRF employee earning over $75,000.
- Within six days of approving its budget, an IMRF employer must post the total compensation package for each employee receiving a total compensation package that exceeds $75,000 a year.
- At least six days before an IMRF employer approves an employee’s total compensation package that will equal or exceed $150,000 a year, the employer must post the total compensation package for that employee.
For this statute, “total compensation package” is defined as salary, employer-paid health insurance premiums, housing allowance, vehicle allowance, clothing allowance, bonuses, loans, vacation days which will be earned in that year and sick days which will be earned in that year.