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ILLINOIS STATE BOARD OF EDUCATION School Business Services Division Accounting Basis:SCHOOL DISTRICT BUDGET FORM * July 1, 2015, June 30, 2016Cash AccrualBalanced budget, no deficit reduction plan
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The June 30 school district refers to a specific financial reporting period for school districts, typically aligning with the end of the fiscal year on June 30, during which school districts must report their financial activities and status.
All school districts that operate on a fiscal year that ends on June 30 are required to file the June 30 school district financial reports, including public school systems and charter schools.
To fill out the June 30 school district report, districts must gather their financial data, including revenue, expenditures, assets, and liabilities, and complete the designated forms provided by the relevant state or educational authority.
The purpose of the June 30 school district report is to provide a comprehensive overview of a district's financial health, ensure accountability, and inform stakeholders, including the public and government agencies, about the utilization of funds.
The report must include details such as total revenues, total expenditures, changes in fund balance, assets, liabilities, and any discrepancies or areas requiring further explanation.
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