IL HB2485

School boards must submit annual statements of affairs to the State Board of Education by December 1, showing assets, liabilities, and fund balances in the form prescribed by the State Board.

Statements of affairs must be posted on the State Board of Education's website and made available at the school district's main administrative office, with public notice published in a newspaper of general circulation in the school district.

The State Board of Education must post all timely-received statements of affairs online by January 15 each year.

School districts failing to comply with these requirements may have state payment processing discontinued after December 15, with 10 days written notice; processing resumes once the district complies.

Statements of affairs must include detailed information on certificated and non-certificated personnel by salary ranges, non-wage payments to recipients of $1,000 or more, district size, employee and student numbers, tax rates, bonded debt, and capital assets.