FINANCIAL INFORMATION
Our district prioritizes sound fiscal management and the responsible stewardship of financial assets. We aim to ensure stability and solvency to achieve district goals while upholding accountability, transparency, and trustworthiness. To support these principles, this webpage provides open access to detailed financial information. For questions, please contact Cody Martzluf, Chief School Business Official, at 309.389.3000 or via email at cmartzluf@ib327.com.
AUDITED FINANCIAL STATEMENTS AND AUDITOR BOARD REPORTS
The district collaborates with Gorenz and Associates, Ltd., for its annual financial audits. Each fall, the auditor presents a report to the Board of Education summarizing the prior year’s financial activities.
Click here to view our audited financial statements
Click here to view our auditor reports
ANNUAL STATEMENT OF AFFAIRS
As mandated by Illinois law, the district annually completes and publishes an Annual Statement of Affairs. This report provides a financial summary of district funds, tax rates, assessed valuations, enrollment, employee salaries, and vendor payments.
Click here to view the district's annual statements of affairs
CONTRACTS OVER $25,000
Under the Illinois School Code (105 ILCS 5/10-17), the district must list all contracts exceeding $25,000 and agreements with exclusive bargaining representatives on its website.
Click here to view the district's summaries of contracts over $25,000
BUDGET
Each year, our district must create a budget that reveals the district’s revenues and expenditures 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).
The District 327 School Board is charged with approving and adopting 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, including District 327, and is the last day to adopt the annual budget.
Click here to see the district's annual budgets
MERITORIOUS BUDGET AWARD
The Association of School Business Officials (ASBO) created the Meritorious Budget Award (MBA) to recognize districts for creating budgets which successfully speak to the community. Meritorious budgets meet many carefully selected criteria. Meritorious budgets meet a national standard designed to promote best practices for fiscal management. The MBA promotes and recognizes excellence in school budget presentation and enhances school business officials’ skills in developing, analyzing, and presenting a school system budget. After a rigorous review by professional auditors, the award is bestowed only on school districts that have met or exceeded the program’s stringent criteria. Less than one percent of schools nationwide receive this honor.
Click here to view Illini Bluffs #327's FY25 Award Notification
Click here to view Illini Bluffs #327's FY25 MBA Submission
Click here to view Illini Bluffs #327's FY24 Award Notification
Click here to view Illini Bluffs #327's FY24 MBA Submission
ANNUAL FINANCIAL REPORTS
Illinois school districts must file an Annual Financial Report, detailing actual audited results for the fiscal year, using a standardized state form.
COMPENSATION REPORTS
Certified Administrator and Teacher Compensation
Illinois School Code (105 ILCS 5/10-20.47) requires districts to report the base salary and benefits of administrators and teachers annually. Benefits include vacation, sick days, bonuses, annuities, and retirement contributions.
Illinois Municipal Retirement Fund (IMRF) Participation
The district posts total compensation packages exceeding $75,000 annually as required by law (5 ILCS 120/7.3).
COLLECTIVE BARGAINING AGREEMENTS
The district has agreements with the Illinois Federation of Teachers (certified teaching staff) and the Illini Bluffs Educational Support Personnel Union (support staff).
Click here to see the district's current collective bargaining agreements
LEVY
The tax levy is essential for generating local revenue to fund district programs and operations. It ensures financial stability by requesting specific dollar amounts for various needs.
Click here for levy information.
FUND BALANCES
Public Act 102-0895 requires school districts with cash reserve balances to disclose that at the annual budget and levy hearing.
Click Here for Fund Balance Information
ESSER III Spending Plan
ESSER III Spending Plan - Click Here