School District Budget and Finances
Fiscal Year 2012 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/Judgment (80), and Fire Prevention & Safety (90). Fiscal Year 2012 (FY12) runs from July 1, 2011 through June 30, 2012. 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.
For the FY12 Budget, there is considerable concern with a significant deficit of approximately $570,000 in the Education Fund. This is not due to increased expenditures, as expenses are up just 0.18 percent from FY11. Rather, this is largely due to the uncertainty with grants and reimbursements from the state of Illinois, as well as a decrease in local property tax revenues. This fund will be monitored very closely in the coming months and years, and is helped by the healthy fund balance the district has accumulated.
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 fiscal year 2012 tentative budget was presented on August 17, 2011. The final FY12 budget was presented at a public hearing before official adoption by the Board of Education on September 21, 2011.
Accessing the Budget
The FY12 budget reflects estimated revenues and expenditures for the period beginning July 1, 2011 through June 30, 2012. This is shown in two formats below. The FY12 Budget Summary is an easy to read overview of actual beginning fiscal year balances, estimated revenues and expenditures for the fiscal year, and estimated ending fund balances.
Fiscal Year 2012 Budget Summary
The link to the district's FY12 Illinois State Board of Education Budget Form is listed below. 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 19.
Fiscal Year 2012 Adopted Budget (ISBE District Budget Form)
Local Property Tax Rates
School district taxes constitute a significant portion of the local property tax bill, and Peru ESD 124 makes every effort to maintain a low tax rate in our community. Listed below is the school district's tax levy year, followed by the year the rate is applied to real estate taxes, followed by the fiscal year the revenue flows into the school district, followed by the actual applied tax rate for the previous ten years. The 2011 rate is an estimate at this time.
Levy Year Tax Bill Year Fiscal Year Applied Tax Rate
2011 2012 2013 3.0510
2010 2011 2012 3.0704
2009 2010 2011 2.9735
2008 2009 2010 2.9685
2007 2008 2009 2.9962
2006 2007 2008 3.0177
2005 2006 2007 3.0252
2004 2005 2006 3.1028
2003 2004 2005 3.0175
2002 2003 2004 3.0276
Posting of Monthly Bills
Peru Elementary School District 124 posts its monthly bills online. Following are the links to all bills paid each month. Please contact Superintendent Mark Cross with any questions at at (815) 223-0486.
| January 2011 | February 2011 | March 2011 |
| April 2011 | May 2011 | June 2011 |
| July 2011 | August 2011 | September 2011 |
| October 2011 | November 2011 | December 2011 |
| January 2012 | February 2012 | March 2012 |
| April 2012 | May 2012 | June 2012 |
Salary, Compensation and Benefit Report
In accordance with certain requirements of 105 ILCS 5/10-20.46 and 105 ILCS 5/34-18.37, a school district must list on its website a salary, compensation and benefit report for administrators and teachers by July 1 of each year. Salary and benefit information for district administrators and teachers are as follows for fiscal year 2011 (FY11):
Fiscal Year 2011 Salary, Compensation and Benefit Report
Collectively Bargained Employee Contracts
In accordance with certain requirements of 105 ILCS 5/10-20.46, a school district must list on its website any contract the Board of Education enters into with an exclusive bargaining representative. The three collective bargaining agreements for Peru Elementary School District 124 are as follows:
Peru Educators' Association (IEA/NEA)
Custodial Service Employees (Local 138)
Food Service Employees (Local 138)
Required Listing of Contracts Exceeding $25,000
In accordance with the requirements of the Illinois School Code (105 ILCS 5/10-20.40), a school district must list on its website all contracts exceeding $25,000, any contract that the Board of Education enters into with an exclusive bargaining representative, and information required to be submitted in conjunction with the submission of the Annual Statement of Affairs. Please click the following link to view a listing of these contracts for July 1, 2010 through June 30, 2011 (FY11):
Fiscal Year 2011 Contracts Exceeding $25,000
Annual Financial Report and Annual Statement of Affairs
Peru Elementary School District 124 also publishes online the district's most recent Annual Financial Report, as well as the Annual Statement of Affairs. The Annual Financial Report is a detailed summary of the district's audited financial statements, while the Annual Statement of Affairs summarizes payments to employees and vendors and is published annually in the local NewsTribune.
Fiscal Year 2011 Annual Financial Report
Fiscal Year 2011 Annual Statement of Affairs
If you have questions or concerns regarding the school district budget, tax levy, financial reports or other issues related to school district finances, please contact Superintendent Mark Cross at (815) 223-0486.
