Finding Text
This finding is recurring. CRITERIA: Per Illinois Compiled Statutes, the fund expenditures may not legally exceed the district's budgeted amounts. CONDITION: For the year ending 2023, actual expenditures for the Educational, Operations and Maintenance, Municipal Retirement/Social Security, and Tort funds exceeded the budget. CONTEXT: The approved budget established the authorized expenditures limitation in each fund. EFFECT: Actual expenditures exceeded the budget in the above named funds. CAUSE: Actual expenditures exceeded the budgeted amounts for the year RECOMMENDATION: A closer review of expenditures needs to be maintained and reflected in the amended budget. MANAGEMENT RESPONSE: The District will implement a better monitoring system between the budget and the actual expenditures to ensure that actual expenditrues do not exceed budgeted amounts. Principals are now assigned budgets. The principal approves expenditures to sent to Superintendent for secondary approval.