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Post by macrockett on May 30, 2009 10:18:06 GMT -6
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Post by macrockett on Feb 26, 2010 23:50:12 GMT -6
www.isbe.state.il.us/sfms/ABCsofAFR/ABCsofAFRdefault.htmSchool Business Services ABCs of the AFR
(navigate through the document with the below links)
The ABCs of the AFR has been designed to introduce basic governmental accounting concepts to help readers of The Illinois School District Annual Financial Report (FY07) (AFR) better understand the annual audit process and the financial information generated. This guide will explain the AFR's components and accounting terms for individuals who want to know more about how their school district dollars are received and spent. The intent is to describe the AFR fundamentals in such a way as to help bring order to what may incorrectly appear to be an overwhelming or unnecessary process. The issues discussed in this guide relate directly to: (1) The Illinois Program Accounting Manual which is the basis for school district accounting and reporting within the legal requirements of The School Code of Illinois; and (2) The School District Budget (FY08)(ISBE Form 50-36) which is the annual budget that is adopted by all Illinois school districts. As concerns for school district fiscal accountability and responsibility increase, the importance of clear, reliable, and understandable financial information cannot be overstated. It is our hope that this guide will provide the first step! * Hints to the Annual Financial Report * A Guide to Understanding the Illinois School District Annual Financial Report (AFR) * When is the Annual Financial Report Filed? * Annual Financial Report Components * Key Factors in the Annual Financial Report * What is a Fund and What Does It Mean? * Illinois Program Accounting Manual (IPAM) * Legal Issues / Compliance * Glossary * Exhibits
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Post by macrockett on Feb 26, 2010 23:51:07 GMT -6
www.isbe.state.il.us/sfms/html/financial_archive.htmSchool Business Services Historical Archive—Financial Reports * Annual Financial Reports (1998–2008) Historical annual financial reports (ISBE Form 50-35/50-36). * Annual Statements of Affairs (2006–2009) Historical Annual Statement for Affairs are available (ISBE Form 50-37). * ILEARN (School District Financial Information Search Tool and School District Financial Data Tables) * Regional Superintendent's Annual Reports - FY2009 * School District Budgets (2007–2010) * School District Directory All School Districts are listed by the eleven digit identification number. To locate a district number, refer to the School District Directory. * School District Financial Profile (2006–2009) * State, Local and Federal Financing for Illinois Public Schools '00 PDF File
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Post by macrockett on Feb 26, 2010 23:52:22 GMT -6
www.isbe.state.il.us/sfms/ABCsofAFR/WhentoFile.htmSchool Business Services When is the Annual Financial Report Filed?Illinois law requires school districts to, as of June 30 of each year, have an audit of their accounts conducted by a licensed certified public accountant (CPA).
The school district submits, by October 15th of each year, an original and one copy of the AFR to its Regional Office of Education. The Regional Superintendent files the original with the State Board of Education by November 15th. If the circumstances require, a school district may request that the Regional Office of Education grant a filing extension of up to 60 days from the October 15th date.
The State Board of Education determines the adequacy of all school district audits and keeps the AFR's on file. The process is expected to change as technology improves. School districts are required to submit using the Attachment Manager or a CD for the AFR filing rather than a "paper and pencil" approach.
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Post by macrockett on Apr 6, 2010 14:27:10 GMT -6
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