School Finance


Finance Calendar


JanuaryFebruaryMarchApril •; MayJuneJulyAugustSeptemberOctoberNovemberDecember
This calendar is published for informational purposes only and should not be used as a substitute for legal advice from the school district legal counsel.

Parentheses indicate the applicable Illinois Compiled Statutes references.
January:

At the beginning of each calendar or fiscal year, the school board must give notice of its schedule of regular meetings, including dates, times and locations. Beginning January 1, 2006, the notice must also be placed on the school district's web site if a full-time staff member maintains the site. (5 ILCS 120/2-02)

During January, the district superintendent shall report to the regional superintendent the number of high school students enrolled in accredited courses at any community college (105 ILCS 5/10-21.4)

31 - Last day for filing federal and state income tax withholding reports and paying taxes due for the quarter ending December 31.

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February:

1 - On or before February 1, the school must establish a seniority list and, if applicable, consult with the exclusive collective bargaining representatives in doing so.

1 - Last day for superintendent to certify to the county clerk names and addresses of school employees who are required to file the statement of economic interests (Governmental Ethics Act, 5 ILCS 420/4A-106)

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March:

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April:

1 - Last day for the school board to give its superintendent notice, in writing, if it's their intension not to renew his/her expiring contract, stating the specific reason therefore, unless the contract specifically provides otherwise (105 ILCS 5/10-21.4)

30 - Last day of April is the last day for filing federal and state income tax withholding reports and paying taxes due for the quarter ending March 31

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May:

1 - Last day to file the required Statement of Economic Interest with the county clerk (5 ILCS 420/4A-105)

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June:

21 - Deadline for districts to transmit General State Aid entitlement claims to their respective regional office of education if their official school calendar ends before June 15 or within 2 weeks following the official school calendar end date for districts with a school year end date of June 15 or later (105 ILCS 5/18-8.05)

30 - End of fiscal year for most districts

30 - Effective date of the annual school audit (105 ILCS 5/3-7)

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July:

At the beginning of each calendar or fiscal year, the school board must give notice of its schedule of regular meetings, including dates, times and locations. Beginning January 1, 2006, the notice must also be placed on the school district's web site if a full-time staff member maintains the site.
(5 ILCS 120/2-02)

1 - July 1 is the first day of the fiscal year in most Illinois school districts. The board of education shall adopt an annual budget within or before the first quarter of the fiscal year. (105 ILCS 5/17-1) Within 30 days of its adoption, the annual budget must be filed with the county clerk. (105 ILCS 5/17-1 and 35 ILCS 200/18-50)

1 - Deadline for regional offices of education to transmit district General State Aid entitlement claims to ISBE if the district official school calendar ends before June 15 (105 ILCS 5/18-8.05)

15 - Deadline for regional offices of education to transmit school district General State Aid entitlement claims to ISBE if the district official school calendar ends after June 15 (105 ILCS 18-8.05)

15 - Deadline for districts to transmit Special Education Orphanage reimbursement claims (105 ILCS 14-7.03)

15 - Deadline for districts to transmit Regular Orphanage reimbursement claims to ISBE (105 ILCS 5/18-3)

15 - Last day for submitting to the regional superintendent a statement of condition of schools within each township during the previous fiscal year (105 ILCS 5/5-18)

25 - Deadline for the regional offices of education to review all district, education career center and special education cooperative Regular/Vocational or Special Education Transportation reimbursement claims and transmit them to ISBE (105 ILCS 5/29-5)

30 - Last day for the regional superintendent to survey and inspect schools and notify each school board, in writing, whether or not schools in their district have been kept as required by law under terms of state life-safety standards (105 ILCS 5/3-14.21)

31 - Last day for filing federal and state income tax withholding reports and paying taxes for quarter ending June 30.

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August:

15 - Deadline for districts, education career centers and special education cooperatives to transmit their Regular/Vocational or Special Education Transportation reimbursement claims to ISBE (105 ILCS 5/29-5)

15 - Deadline for districts to transmit Special Education Pupil Excess Cost reimbursement claims to ISBE (105 ILCS 14-17.02b)

15 - Deadline for school districts and special education cooperatives to transmit Special Education Private Facility and Personnel reimbursement claims to ISBE (105 ILCS 14-7.02 and 14-13.01)

31 - Last day for regional superintendents to file with ISBE an affidavit showing which treasurers of school districts are properly bonded (105 ILCS 5/3-8 and 105 ILCS 5/8-2)

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September:

1 - Before September 1, the school board must publish a notice of the school budget availability for public inspection and hearing (105 ILCS Section 5/17-1)

1 - The board for joint agreements must hold a public meeting to adopt the joint agreement budget on or by September 1 (105 ILCS Section 5/17-1)

30 - The school board must hold a public meeting to adopt the school budget on or before September 30 (end of first quarter) (105 ILCS 5/17-1) Within 30 days of adoption, and any subsequent adoption, the annual budgets must be filed with the county clerk. (105 ILCS 5/17-1 and 35 ILCS 200/18-50)

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October:

15 - Deadline to deliver the Annual Financial Report (AFR) /Audit to the regional office of education (with the exception of an extension of time granted by the regional superintendent) (105 ILCS 5/3.7 and
105 ILCS 5/3-15.1)

31 - Annual budgets must be filed with the county clerk within 30 days of adoption or any subsequent adoption (105 ILCS 5/17-1 and 35 ILCS 200/18-50)

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November:

1 - Deadline for school districts to transmit Special Education Summer School Orphanage reimbursement claims to ISBE (105 ILCS 5/18-4.3 and 14-7.03)

15 - Deadline for filing the Limitation of Administrative Costs worksheet with ISBE (105 ILCS 5/17-1.5)

15 - Deadline for receipt of the Annual Financial Report (AFR) / Audit to ISBE from the Regional Office of Education (with the exception of an extension of time granted by the regional superintendent) (105 ILCS 5/3.7 and 105 ILCS 5/3-15.1)

30 - Last day for publishing the Annual Statement for Publication (ISBE Form 50-37) for a school district (105 ILCS 5/10-17)

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December:

On or before the last Tuesday of December, Tax Levies (ISBE Form 50-02) must be certified and filed with the appropriate County Clerk(s) (105 ILCS 5/17-11, 200/18-15)

15 – Last day for filing the Annual Statement of Affairs (ISBE form 50-37) to ISBE

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