Understanding School Finance

Twelve Questions and Answers about School Finance

Maintaining the fiscal health of a school district and acting responsibly with taxpayer dollars are core responsibilities for school officials. The laws governing school finance in Illinois affect different school districts in different ways. Understanding School Finance answers 12 questions using broad terms that apply to most Illinois districts with the goal of providing a general overview of school finance.

The resource includes answers to basic questions such as what a school district budget is, how school income is determined, and who decides what is included in the budget. Information on more nuanced topics including how state and federal aid for schools is allocated, what are some ways to reduce costs, and how to evaluate the financial health of a school district are also highlighted.

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