Fiscal Year Budget
Fiscal Year 2025 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 2024 (FY24) runs from July 1, 2024 through June 30, 2025. 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 FY25 tentative budget was presented on August 21, 2024. The final FY25 budget was presented at a public hearing before official adoption by the Board of Education on September 18, 2024.
Accessing the Budget
The Fiscal Year 2025 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 2025 State Budget Form for the district is also provided. After the cover page, this document shows the overall budget summary on pages 2, 3, and 4, a summary of cash transactions on page 5, estimated receipts/revenues on pages 6 through 11, and estimated disbursements/expenditures on pages 12 through 20.
Budget Amendment Process
A Budget Amendment is the mechanism used to revise the adopted budget of a school district or unit of government reflecting changes that occur throughout the fiscal year. Once the working budget is adopted, it can only be changed through the Budget Amendment process. The budget amendment process is similar to adopting the original budget. The tentative amended budget is presented at a public board meeting, placed on file and conveniently available to public inspection for 30 days, a public hearing is held, the final amended budget is adopted at a public meeting.
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 Jamie Craven at 815-223-1111 if you need any assistance.
