IL HB3471

State Board of Education must develop and maintain a uniform accounting and reporting system for all school district receipts and expenditures that complies with generally accepted accounting principles.

All school districts must record receipts and expenditures using a uniform classification of accounts and chart of accounts as prescribed by the State Board and submit required reports and statements.

The uniform accounting system must allow school districts to record attendance center-level expenditures and must be searchable and publicly accessible on the State Board's website.

State Board shall design accounting records, fiscal procedures, and uniform classifications for receipts and expenditures, and prescribe necessary forms for districts to use with the uniform system.

School districts must make annual statements of affairs available to the public by December 1, including summary financial information, personnel payments by salary category, and other district data as prescribed by the State Board.