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Fiscal Year Budget

Fiscal Year 2020 Budget Information

Peru Elementary School District 124 currently maintains a total of nine funds, including the following by fund number: Education (10), Operations & Maintenance (20), Debt Service (30), Transportation (40), Municipal Retirement & Social Security (50), Capital Projects (60), Working Cash (70), Tort Immunity (80), and Fire Prevention & Safety (90). Fiscal Year 2020 (FY20) runs from July 1, 2019 through June 30, 2020. Typically, the majority of school district expenditures are from the Education Fund, as this fund provides the educational staffing and programming for the district. This includes expenditures for most employee salaries and benefits, supplies, equipment, textbooks, and other instructional costs.

Like most Illinois school districts, we continue to be faced with significant financial challenges. Throughout this time, the Peru Elementary School District 124 Board of Education has taken a very cautious and conservative approach in working to reduce costs to help make certain that we remain financially sound.

Public Budget Hearing and Adoption

The Illinois School Code mandates that each school district prepare a tentative budget, make the tentative budget available for public inspection for a minimum of 30 days, and hold a public hearing and formally adopt the budget prior to the end of the first quarter (September 30) of each fiscal year. The FY20 tentative budget was presented on July 18, 2019. The final FY20 budget was presented at a public hearing before official adoption by the Board of Education on September 18, 2019.

Accessing the Budget

The Fiscal Year 2020 Budget Summary reflects estimated revenues, expenditures and ending fund balances in an easy to read overview of actual beginning fiscal year balances, estimated revenues and expenditures and estimated ending balances for each of the nine funds for the fiscal year.

The Fiscal Year 2020 State Budget Form for the district is also provided. After the cover page, this document shows the overall budget summary on pages 2 and 3, a summary of cash transactions on page 4, estimated receipts/revenues on pages 5 through 10, and estimated disbursements/expenditures on pages 11 through 17.

We believe in transparency and accountability for every dollar we spend, and we welcome your questions, comments or concerns about anything related to the business of running the school district. Please contact Superintendent Mark Cross at 815-223-1111 if you need any assistance.

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Peru Elementary District 124 1800 Church Street Peru, IL  61354
Phone: 815-223-1111 FAX: 815-223-0490

This institution is an equal opportunity provider.

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