Business/Fiscal Services

Finances

District budgets are approved annually, but many of the numbers contained within reflect long-term commitments, such as labor contracts, ongoing equipment and building maintenance contracts and long-term commitments to instructional or professional development strategies.  


School accounting and the law
District budgets are approved annually, but many of the numbers contained within reflect long-term commitments, such as labor contracts, ongoing equipment and building maintenance contracts and long-term commitments to instructional or professional development strategies.  typical business or family budgets. The main differences are:

Fund accounting
School district records, budgeting and reporting are on a fund basis. Nine funds are established for specific activities and objectives and operate in accordance with laws and regulations. Each fund is treated as a separate and independent entity with its own assets, liabilities and fund balance.

Federal and State mandates
Public schools must fund certain programs and services by law, even if it means deficit spending. Some familiar programs governed by mandates include special education, life-safety and ESL and bilingual programs.

Cash balances
Districts keep cash reserves for emergencies, or if revenues are distributed late, they can make their payments and not accrue penalties.

LINKS

RTHS Business/Fiscal Services Google Drive

Main Office: (815) 562-4161

1401 Flagg Rd, Rochelle, IL 61068, USA

©2018 by Rochelle Township High School.