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BUDGET SUMMARY Page 2 A 1 B Begin entering data on Est Rev 510 and Step 1117 tabs. 10 11 12 13 14 15 16 17 18 19 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 E F G H I J K ×30) Debt Service (40)
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How to fill out isbe loan proceeds
How to fill out ISBE loan proceeds:
01
Gather all necessary documentation such as the loan application, financial statements, and any other supporting documents required by the Illinois State Board of Education (ISBE).
02
Carefully read through the loan application instructions provided by the ISBE to understand the specific requirements and ensure all sections are completed accurately.
03
Begin by providing basic information about your educational institution, including its name, address, contact information, and federal tax identification number.
04
Specify the purpose of the loan proceeds, whether it is for general operating expenses, capital improvements, or another approved category.
05
Itemize the requested loan amount and clearly outline how the funds will be allocated. This could include details such as salaries, equipment purchases, facility upgrades, or debt repayment.
06
Attach all necessary financial statements, including balance sheets, income statements, and cash flow statements, to support the loan application. These documents should accurately reflect your institution's financial position.
07
Outline any collateral that will be used to secure the loan, if applicable. Provide details about the nature and value of the collateral, as well as any existing liens or encumbrances.
08
Indicate the desired loan terms, including the proposed interest rate, repayment schedule, and any other conditions that may be negotiable.
09
Review the completed application thoroughly to ensure all sections are filled out correctly and all required documents are attached.
10
Submit the completed application and supporting documents to the designated ISBE office by the specified deadline.
Who needs ISBE loan proceeds:
01
Educational institutions such as public schools, private schools, charter schools, and other educational organizations may require ISBE loan proceeds to fund various operational expenses.
02
Schools facing financial difficulties, budget shortfalls, or capital improvement needs may seek ISBE loan proceeds to maintain or enhance the quality of education provided to students.
03
These funds can be particularly beneficial for schools located within economically disadvantaged areas or facing unique challenges, as they provide financial support to bridge funding gaps and improve educational resources.
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