New Tenth Edition of School Finance Book Now Available

  • Date Posted
    February 14, 2024
  • Category
The Illinois Association of School Boards has published a new edition of its key reference book for helping those with budgeting responsibilities understand the complex issues involved in public school finance.

Essentials of Illinois School Finance is a practical and informative guide for school administrators, business managers, budget makers, and anyone impacted by school finance. Details help school board members understand what is involved in the financial management work of administrative staff and the board's responsibilities in maintaining the district's fiscal health.

Through numerous editions, Essentials of Illinois School Finance has provided budgeting techniques, issues, and resources to students of educational administration. The 2024 publication is the Tenth Edition written by James B. Fritts, with new contributions and expertise from school business official Ann Williams, Ed.D.

Issues and legislation impacting school budgets have changed since the book was last published in 2021. This new Tenth Edition retains and updates information on the basic principles and operations of Illinois school financial management as of July 2023. Other new updates to the book discuss the effects of the pandemic on revenue sources and managing costs as well as costs associated with security upgrades and cost-saving measures to help districts budget.
Key information is presented in three sections:
  • Part One emphasizes budgeting and management of revenues and describes the workings of the state’s Evidence-Based Funding formula.
  • Part Two addresses the budgeting and management of expenditures and describes ways to assess a district’s overall financial health.
  • Part Three describes the school board’s financial responsibilities and how the board can fulfill its leadership responsibilities for the school district’s financial health.
An appendix of resources is included to enable the reader to locate additional information.

Authoring the popular IASB title since 2002 is James B. Fritts, who also has taught graduate courses in educational administration at Loyola University, Chicago, and Northeastern Illinois University and has been a frequent presenter at conferences and workshops for school business officials. In addition to his own experiences and those of numerous students and colleagues, Fritts calls on a wide array of sources with expertise in state funding, property tax administration, and virtually all aspects of school business management.

Senior Editor Ann Williams is Deputy Superintendent for Operations and Treasurer for Elgin-based School District U-46. A leader in the school business profession, she serves on the Illinois State Board of Education’s Professional Review Panel which oversees the Evidence-Based Funding model for Illinois public schools.

Essentials of Illinois School Finance is available to purchase from the IASB Online Bookstore. The retail price is $47 and $37 for IASB members. A $7 shipping charge is applied to all orders.

The IASB Online Bookstore offers books published by the Association and other publishers to assist school leaders and help school boards carry out their responsibilities.

For additional information, contact the IASB Communications Department at (217) 528-9688, ext. 1131.