1. Illinois State Board of Education 1 FY2010 Annual Financial Reports

2. 2 23 ILLINOIS ADMINISTRATIVE CODE, Part 100  ISBE Web Page (www.isbe.net)www.isbe.net http://www.isbe.net/rules/archive/pdfs/100ARK.pdf  Illinois General Assembly Web Page http://www.ilga.gov/commission/jcar/admincode/023/02300100sections.html School District AFR

3. ISBE Webpage - www.isbe.net 3 Rules are available here for viewing

4. 4 Fund Account Balance Sheet XX XXX Revenue XX XXXX Fund Function Object “Source” Expenditure XX XXXX XXX (xxxx) Additional Codes: - Transaction Type X - Fiscal Year XX State Reporting Requirements

5. 5 ISBE Form 50-35 FY2010 Changes School District - AFR

6. 6 School District AFR Pages 7 & 8 Tort Fund (80)

7. 7 TORT IMMUNITY  A Separate Tort Immunity Fund (80) Was Created, effective FY2009.  This Fund Is Required if Taxes Are Levied or Bonds Are Sold for Tort Immunity or Tort Judgment Purposes.  All “New” Tort Immunity Monies Are Deposited and Accounted for in Fund 80. School District AFR

8. 8 Page 7 7000 Accts.

9. 9 School District AFR Page 8 8000 Accts. Accounts – 8410 thru 8910

10. 10 OTHER SOURCES/USES OF FUNDS  Expanded 8000 Accounts (Other Uses) for Pledged Transfers to Debt Service Fund (30) or Capital Projects Fund (60) School District AFR

11. 11 School District AFR Tort Fund (80) Page 21 Added Accounts – 2371 & 2372 Disbursements/Expenditures

12. 12 TORT FUND (80) - New Expenditure Accounts  Added: - Function 2371 - Property Insurance (Building & Grounds) - Function 2372 - Vehicle Insurance (Transportation)  Also - See the School Code, Sections 17-7 and 17-8 on Insurance Premiums for School Buildings, School Fixtures, Transportation and Related Costs. School District AFR

13. 13 School District AFR Fire Prevention & Safety Fund (90) Page 22 Added Accounts – 5200 & 5300 Disbursements/Expenditures

14. 14 FIRE PREVENTION & SAFETY FUND (90) – New Expenditure Accts.  Debt Services - Accounts for Principal & Interest on Long-Term Debt Added: - Function 5200 – Interest on Long-Term Debt - Function 5300 – Payment of Principal on Long-Term Debt School District AFR

15. 15 SCHEDULES AND RELATED INFORMATION  Financial Profile  ARRA Schedule of Receipts & Disbursements  Schedules of Restricted Taxes & Selected Revenues  Schedule of Capital Outlay  Operating Expenditures & Per Capita Costs  Schedule of Indirect Cost Data School District AFR

16. 16 Financial Profile (Page 4) “Operating Funds” Educational O&M Transportation Working Cash School District AFR

17. 17 FINANCIAL PROFILE  Calculated Two Ways to Account for Delays in General State Aid (GSA) or Mandated Categorical Aid (MCAT) Due to School Districts: (1) Utilizing A Base Calculation (AFR estimate – Page 4), and (2) Additional Revisions to this Calculation (by ISBE) to Adjust for Applicable Late Payments of GSA or MCATs. School District AFR

18. 18 FINANCIAL PROFILE – Changes In Base (est.) Calculation  Adjustments to Revenues for Debt Services or Capital Projects (only from Funds 10 & 20) New Accounts 8410 – 8910 (Other Uses - AFR, Page 8) for Pledged Transfers to Debt Service Fund (30) or Capital Projects Fund (60). Includes Taxes, Grants, Other Revenues, but not Fund Balances.  Adjustments to Fund Balance for Deficit in Tort Fund (80). Treated the Same as MR/SS Fund (50) School District AFR

19. 19 FINANCIAL PROFILE - GSA & MCATS Additional Calculations (by ISBE) for Late Payments:  For Cash Basis School Districts, adjustments are made to Fund Balance, Revenue and Cash. Amounts are determined from delays in payments for the current year and prior year.  For Accrual Basis Districts, Only Cash Is Adjusted School District AFR

20. 20 School District AFR ARRA Schedule of Receipts & Disbursements (Page 23) Districts Must Document Expenditures with Fund, Function, Object, and Revenue Account Codes for ARRA Expenditures Within Detailed Ledger Reports

21. 21 School District AFR Schedule of Restricted Taxes & Selected Revenues Page 26 New Reporting

22. 22 SCHEDULE OF RESTRICTED LOCAL TAX LEVIES AND SELECTED REVENUE SOURCES New Reporting  Added – The School Facility Occupation Taxes  Added – Driver Education  Also – The Tort Immunity Sections on This Page Should Be Completed Only If Expenditures Are Reported in a Fund Other Than Tort Immunity Fund (80) as a Result of Existing (restricted) Fund Balances. School District AFR

23. 23 Schedule of Capital Outlay (Page 27) Non – Capitalized Equipment School District AFR

24. 24 NON-CAPITALIZED EQUIPMENT A Capital Asset - Except the Cost Is Less Than the Capitalization Threshold Adopted by the School Board. School District AFR

25. 25 Operating Expenditures & Per Capita Costs (Pages 28 & 29) Less Activity Not Applicable to Regular K-12 Programs Total Expenditures School District AFR Operating Expenditures Per Pupil

26. 26 Operating Expenditures & Per Capita Costs (Pages 28 & 29) Less Offsetting Revenues School District AFR Includes Adjustment for Offsetting Revenues from State Sources Except Those from the Common School Fund and Federal Sources Except Those from Federal Impaction Aid Acct 4850 ARRA General State Aid – Education Stabilization Acct 4870 ARRA General State Aid – Other Government Services Stabilization

27. 27 Schedule of Indirect Cost Data (Page 30) School District AFR Termination Benefits Object 800 Limited – Only Payments Made to Terminated or Retiring Employees as Compensation for Unused Sick or Vacation Days.

28. 28 Questions ?

29. 29 School Business Services Division 217/785-8779 http://www.isbe.net/sbss/default.htm