Each year the school board must create a budget that reveals the district’s income and expenses and it must make its annual budget available for public inspection. The budget is the school district’s plan for how it will allocate and expend revenue dollars. It is the basis for a school district’s tax levy.
The tentative budget must be displayed at least 30 days prior to its adoption. A public hearing must be held prior to the adoption of the budget. The district must publish a legal notice indicating availability for the public to inspect the tentative budget, including the date, time, and location of the public hearing (105 ILCS 5/17-1).
Districts must adopt an annual budget by the end of the first quarter of the fiscal year. September 30 is the end of the first quarter of the fiscal year for most Illinois school districts and the last day to adopt the annual budget.