FINANCIAL SECTION - School District U-46

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$7th Grade Math$

CAPITAL OUTLAY. Capital outlay includes expenditures for the acquisition of fixed assets or additions to fixed assets. These are expenditures for land or existing buildings, improvements of grounds, construction of buildings, additions to buildings, remodeling of buildings, initial equipment, additional equipment, and replacement of equipment. DEBT SERVICE. Debt service payments include payments for principal and interest on the long-term debt of the district. INSTRUCTION. Instruction consists of those activities dealing with the teaching of students. Included within the instruction function are regular programs, special programs, and other instructional programs. INTERGOVERNMENTAL. Intergovernmental includes payments to other governmental entities. SUPPORT SERVICES. Support services include services that provide administrative, technical (e.g., guidance and health), and logistical support to facilitate and enhance instruction. Support services are adjuncts to the fulfillment of the objectives of instruction. NONPROGRAMMED CHARGES. Nonprogrammed charges include all payments to other districts. FUND. A fund is a separate accounting entity with a self-balancing set of accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures. District resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. An account group, on the other hand, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available resources. Following are the funds used by the District. CAPITAL PROJECTS FUND. The Capital Projects Fund is used to account for proceeds resulting from building bonds, receipts from other long-term financing agreements, or construction or maintenance grants used to finance a capital project, capital lease, lease purchase agreement, or if a tax is levied in accordance with Section 17-2.3 of the School Code. DEBT SERVICE FUND. The Debt Service Fund is used to account for revenues and related expenditures to retire bond principal or to pay bond interest, or if other revenue is pledged to pay principal, interest, or service charges on other long-term debt instruments. [See 105 ILCS 5/Art. 19] 4-18
DEVELOPERS FEES FUND. The Developers Fees Fund is used to account for the proceeds derived from developers fees and the expenditure of those funds. EDUCATION FUND. The Education Fund is the general operating fund of the district. It is used to account for all financial transactions not accommodated by another specific fund. This fund is primarily used for most of the instructional and administrative aspects of the district’s operations. [See 105 ILCS 5/17-2] FIRE PROTECTION AND SAFETY FUND. The Fire Protection and Safety Fund is used to account for expenditures for fire prevention, safety, energy conservation, or school security, and the revenues supporting those expenditures. [See ILCS 5/2-3.12 and 17-2.11] IMRF/SOCIAL SECURITY FUND. The IMRF/Social Security Fund is used to account for property tax revenues and related expenditures for contributions to the Illinois Municipal Retirement Fund (IMRF), Social Security, and Medicare. [See 105 ILCS 5/17-1, 21-110, and 21-110.1] OPERATIONS AND MAINTENANCE FUND. The Operations and Maintenance Fund is used to account for expenditures for the improvement, maintenance, repair, or benefit of buildings and property, including the cost of interior decorating and the installation, improvement, repair, replacement, and maintenance of building fixtures; rental of buildings and property, payment of all premiums for insurance upon building and building fixtures; all costs of lights, gas, water, telephone service, custodial supplies and equipment, and professional surveys of district property. [See 105 ILCS 5/17-2 and 17-7] TORT IMMUNITY AND JUDGEMENT FUND. The Tort Immunity and Judgment Fund is used to pay for settlements or judgments, for protecting the district or its employees against liability, property damage or loss, and for risk care management programs. TRANSPORTATION FUND. The Transportation Fund is used to account for the costs associated with transporting students for any purpose. All costs of transportation, other than those authorized by statute to be paid from another fund, shall be paid by this fund. Any funds received for transportation purposes must be deposited into this fund, with amounts due other funds appropriately transferred thereafter. 4-19
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SCHOOL DISTRICT U-46 KANE, COOK AND
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Table of Contents TABLE OF CONTENTS
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Operations and Maintenance Fund 3-7
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INFORMATION - SECTION 4 Bond Amorti
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August 16, 2010 Members of the Boar
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BUDGET SUMMARY - FY 2011 All Distri
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FY 2011 Budget Goals From the time
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Economic Condition and Financial Ou
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EXPENDITURES Salary Expenditures Sa
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391,000 Reduction in Transportation
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High School Boys Cross Country Gir
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SCHOOL DISTRICT U-46 Budget Timelin
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ORGANIZATIONAL
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Capital Projects Funds Fire Prevent
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School District U-46 Illinois Budge
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District U-46 Communities Board of
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School District U-46 Departments an
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Special Education Staff coordinates
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School District U-46 District Impro
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School District U-46 Budget Develop
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School District U-46 Fund Organizat
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School District U-46 All Funds Summ
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3-7 FY 2005 FY 2006 FY 2007 FY 2008
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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School District U-46 All Funds Exce
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3-23 FY 2005 FY 2006 FY 2007 FY 200
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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School District U-46 Operating Fund
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3-37 FY 2005 FY 2006 FY 2007 FY 200
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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School District U-46 Education Fund
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3-53 FY 2005 FY 2006 FY 2007 FY 200
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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School District U-46 Transportation
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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School District U-46 Operations and
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FY 2005 FY 2006 FY 2007 FY 2008 FY
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School District U-46 Tort Immunity
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School District U-46 IMRF/Social Se
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School District U-46 Working Cash F
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School District U-46 Debt Service F
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Page 155 and 156: School District U-46 Fire Preventio
Page 163 and 164: School District U-46 Capital Projec
Page 171 and 172: School District U-46 Developers Fee
Page 181 and 182: School District U-46 Bond Amortizat
Page 191 and 192: School District U-46 District Facil
Page 193 and 194: School District U-46 Glossary of Te
Page 195 and 196: BUDGET. The budget is a plan of fin
Page 197: DOUBLE ENTRY ACCOUNTING. Double ent
Page 201 and 202: INVESTMENTS. Investments are securi
Page 203 and 204: PERSONNEL, INSTRUCTIONAL. District
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FINANCIAL SECTION - School District U-46

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