School District must complete a deficit reduction plan • Ix’ · John Kas,’r~ Co., Inc. ertified PublicAccountants INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION

Due to ROB on October 15thDue to ISBE on November 15thSDIJA1 5

ILLINOIS STATE BOARD OF EDUCATIONSchool Business Services Division

100 North First Street, Springfield, Illinois 62777-0001217/785-8779

Illinois School DistrictlJoint AgreementAnnual Financial Report *

June 30, 2015

Accounting Basis:

CASH

U ACCRUAL

Filing Status:Submit electronic AFR directly to ISBE

Click on the Link to Submit:Send ISBE a File

School District must complete a deficit reduction plan

A-133 Single Audit Status:

• X~ YES I NO Are Federal espenditures greater than $500,000?

• Ix’ YES NO Is all A-133 Single Audit Information completed and attached?

- YES NO Were any financiai statement or federal awards findings issued’

X School DistrictJoint Agreement

School DistrictlJoint Agreement Information(See instructions on inside of this page.)

1S~~001 District/Joint Agreement Number07-016-1550-02

County Name:

COOKName ot School Oistrict/Joint Agreement:

CALUMET CITY SCHOOL DISTRICT #155

Address:540 SUPERIOR

City:

CALUMET CITYEmail Address:

[email protected]

Certified Public Accountant Information

Zip Code:

Annual Financial ReportType of Auditor’s Report issued:

X Qualified ~ UnqualifiedX Adverse

Disclaimer

X Reviewed by District SuperintenderitiAdministrator

Name of Auditing Firm:

JOHN KASPEREK CO:,!NC.Name of Audit Manager:

JOHN KASPEREK JR.Address:

1471 RING ROAD~ity: State: Zip Cod

- -~ 60409Phone Number Fax Number:

(708)862-2262 (708)891-3396iL. License Number xplration Date:

066-003685 1113012015[Email Address:

- .~ -- ikasDerek@kaa~cDacom . -

ISBE Use Only

Reviewed by Township Treasurer (Cook County only) ~ Reviewed by Regionai Superintendent/Cook lSCName of Township: THORNTON FRACTIONAL

District Superintendent/Administrator Name (Type or Print) Township Treasurer Name (type or print( RegionalSuperintendent/Cook iSC Name (Type or Printj:

. jSCOTrWHEATON . . -

Email Address: Email Address: Email Address:

[email protected] - [email protected] —— - .

Telephone: Fax Number: Telephone: Fax Number: Telephone: Fax Number:

(708)862-7665 (708) 868-7555 ~708)868-2566 (708) 868-2703 ISignature & Date: Signatur •te Signature & Date-

This~btA, Chapter~form is based on 23 iiiinois Administrative Code, Subtitle A, Chapter i. Subchapter C, Part 100.ISBE Form SD5O-351JA50-60 (05/15) In some instances, use of open account codes Icells) may not be authorized by statute or administrative rule.

Each school district or joint agreement is responsible for obtaining the concurring legal opinion and/or othersupporting authorization/documentation, as necessary, to use the applicable account code Icell).

Printed: 114/2015155 AFR

TABLE OF CONTENTS

TAB Name AFR PageNo.

Auditors Questionnaire Aud Quest 2

Comments Applicable to the Auditors Questionnaire Aud Quest 2

Financial Profile Information FP Info 3Estimated Financial Profile Summary Financial Profile 4

Basic Financial StatementsStatement of Assets and Liabilities Arising from Cash Transactions/Statement of Position Assets-LiabStatement of Revenues Received/Revenues, Expenditures Disbursed/Expenditures, Other

Sources (Uses) and Changes in Fund Balances (All Funds) Acct Summary 7-S

Statements of Revenues Received/Revenues (All Funds) Revenues 9-14

Statements of Expenditures Disbursed/Expenditures Budget to Actual (All Funds) ExpendituresSupplementary Schedules

Federal Stimulus - American Recovery and Reinvestment Act (ARRA) Schedule ARRA SchedSchedule of Ad Valorem Tax Receipts Tax Sched 24

Schedule of Short-Term Debt/Long-Term Debt Short-Term Long-Term Debt 25

Schedule of Restricted Local Tax Levies and Selected Revenue Sources/Schedule of Tort Immunity Expenditures Rest Tax Levies-Tort Im 26

Statistical SectionSchedule of Capital Outlay and Depreciation Cap Outlay Deprec 27

Estimated Operating Expenditures Per Pupil and Per Capita Tuition Charge Computation PCTC-OEPPEstimated Indirect Cost Rate for Federal Programs (Section I, Section II) ICR ComputationReport on Shared Services or Outsourcing Shared Outsourced Serv. ~j.Administrative Cost Worksheet AC 32

Itemization Schedule ITEMIZATION 33

Reference Page REF 34

Notes, Opinion Letters, etc Opinion-NotesDeficit Reduction Calculation Deficit AFR Sum CaIc 36Audit Checklist/Balancing Schedule AUDITCHECKA-133 Single Audit Section

Annual Federal Compliance Report A-133 Cover - CAP 37-46

INSTRUCTIONS/REQUIREMENTS: For School Districts/Joint Agreements

All School Districts/Joint Agreements must complete this form (Note: joint agreement supplementary/statistical schedules may not be applicable)

Round all amounts to the nearest dollar. Do not enter cents. (Exception: g Month ADA on page 28, line 78)

This form complies with Part 100 (Requirements for Accounting, Budgeting, Financial Reporting, and Auditinqi.

23, um,u,~ Administrative Code 100, Subtitle A, Chapter I, Subchapter C lPsrt 1001

Any errors left unresolved by the Audit Checklist/Balancing Schedule must be explained in the itemization page.

Submit AFR Electronically* The Annual Financial Reports (AFR) must be submitted directly through the Attachment Manager to the AFR Group by the Auditor or School District

designated personnel (Please see Instructions for complete submission procedures).

Attachment Manager Link

Note: CD/Disk no longer accepted.

* AFR supporting documentation must be embedded as Microsoft Word (.doc), Word Perfect (*.wpd) or Adobe (*.pdf) and inserted within tab “Opinions & Notes”.

These documents include: The Audit, Management letter, Opinion letters, Compliance letters, Financial notes etc.... For embedding instructions see“Opinions & Notes” tab of this form.Note: Adobe Acrobat (*.pdf) files cannot be embedded if you do not have the software. Simply attach files as separate docs in the Attachment

Manager and they will be embedded for you.

Submit Paper Copy of AFR with Signatures1) The auditor must send three paper copies of the AFR form (cover through page 8 at minimum) to the School District with the auditor signature.Note: School Districts and Regional Superintendents may prefer a complete paper copy in lieu of an electronic file. Please comply with their requests as neccessary,2) Upon receipt, the School District retains one copy for their records, signs, and forwards the remaining two copies to the Regional Superintendent’s

office no later than October 15, annually.3) Upon receipt, the Hegional Superintendents office retains one copy for their records, signs, and forwards the remaining paper copy to ISBE no later

than November 15, annually.

Yellow Book, CPE, and Peer Review requirements must be met if the Auditor issues an opinion stating “Governmental Auditing Standards” were utilized.Single Audit Act A-133

Qualifications of Auditing Firm* School District/Joint Agreement entities must verify the qualifications of the auditing firm by requesting the most current peer review report and the

corresponding acceptance letter from the approved peer review program, for the current peer review period.* A school district/joint agreement who engages with an auditing firm who is not licensed and qualified will be required to complete a new audit by a qualified

auditing firm at the school district’s/joint agreement’s expense.

Printed: 11/4/2015155 AFR

John Kas,’r~ Co., Inc.ertified PublicAccountants

INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION

To the Board of EducationCalumet City School District No.155Calumet City, Illinois

We have audited the financial statements of Calumet City School District No.155 (District) as of and for the yearended June 30, 2015, and the related notes to the financial statements, which collectively comprise the District’sbasic financial statements and have issued our reports thereon dated October 30, 2015, which contained an adverseopinion on those financial statements because the financial statements are not prepared in accordance with generallyaccepted accounting principles. However, the financial statements were found to be fairly stated on the regulatorybasis of accounting, in accordance with regulatory reporting requirements established by the Illinois State Board ofEducation, which is a comprehensive basis of accounting other than generally accepted accounting principles. Ouraudit was performed for the purpose of forming opinions on the basic financial statements as a whole.

The accompanying Annual Financial Report is presented for purposes of additional analysis and is not a requiredpart of the basic financial statements. As described more fully in Note I, these regulatory-based financial statementsare issued to comply with regulatory provisions prescribed by the Illinois State Board of Education, which is acomprehensive basis of accounting other than, and differs from, accounting principles generally accepted in theUnited States of America. They are intended to assure effective legislative and public oversight of school districtfinancing and spending activities of accountable Illinois public school districts. The effects on the financialstatements of the variances between these regulatory accounting practices and accounting principles generallyaccepted in the United States of America, although not reasonably determinable, are presumed to be material.

The accompanying Basic Financial Statements, Supplementary Schedules, and Notes to Financial Statements, aslisted in the table of contents, are the responsibility of management and were derived from and related directly to theunderlying accounting and other records used to prepare the basic financial statements. That information has beensubjected to the auditing procedures applied in the audit of the basic financial statements and certain additionalprocedures, including comparing and reconciling such information directly to the underlying accounting and otherrecords used to prepare the basic financial statements or to the basic financial statements themselves, and otheradditional procedures in accordance with auditing standards generally accepted in the United States of America. Inour opinion, that information is fairly stated in all material respects in relation to the basic financial statements as awhole.

The financial profile information, estimated financial profile summary, statistical section, estimated indirect cost ratefor federal programs, report on shared services or outsourcing, administrative cost worksheet, itemization scheduleand deficit reduction calculation has not been subjected to the auditing procedures applied in the audit ~f the basicfinancial statements and, accordingly, we do not express an opinion or provide any assurance on it.

Calumet City, IllinoisOctober 30, 2015

Telephone: (708) 862-2262 I Facsimile (708) 891-33961471 Ring Road I Calumet City, Illinois 60409

www.kasperekcpa.com..r~,O52

CALUMET CITY SCHOOL DISTRICT NO. 155NOTES TO ANNUAL FINANCIAL REPORT

JUNE 30, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Calumet City School District No. 155 (the “District”) is located in Thornton Fractional Township, in Southern CookCounty, Illinois. The District is responsible for educating students in kindergarten through eighth grade who residewithin the boundaries of a portion of Calumet City. The District operates three schools, Wentworth Jr. High School,Wentworth Intermediate School, and Woodrow Wilson School. Its accounting structure conforms to the guidelinesprescribed by the Illinois State Board of Education for public local educational agencies in the State of Illinois.

A. THE FINANCIAL REPORTING ENTITY

The District is a primary government. It is governed by a Board of Education composed of seven elected boardmembers. These financial statements present Calumet City School District No. 155, a legally separate and fiscallyindependent government.

There are no legally separate organizations for which the elected officials of the District are financially accountablethat would be considered to be component units of the District’s financial reporting entity.

B. BASIS OF PRESENTATION - FUND ACCOUNTING

The accounts of the District are organized on the basis of funds and account groups, each of which is considered aseparate accounting entity. The operations of each fund are accounted for with a separate set of self-balancingaccounts that comprise its assets and liabilities (arising from cash transactions). fund balance, revenues received andexpenditures disbursed. The District maintains individual funds required by the State of Illinois. The various fundsare summarized by type in the financial statements. District resources are allocated to and accounted for in individualfunds based upon the purposes for which they are to be spent and the means by which spending activities arecontrolled. The District uses the following fund types and account groups:

Governmental Fund Types

Governmental Funds are those through which most governmental functions of the District are financed. Theacquisition, use and balances of the District’s expendable financial resources and the related liabilities (arising fromcash transactions) are accounted for through governmental funds.

The General Fund, which consists of the Educational Fund and the Operations and Maintenance Fund, is the generaloperating fund of the District. It is used to account for all financial resources except those required to be accountedfor in another fund.

Special Revenue Funds, which include the Transportation Fund and the Municipal Retirement/Social Security Fund,are used to account for cash received from specific sources (other than those accounted for in the Debt Service Fundor Fiduciary Funds) that are legally restricted to cash disbursements for specified purposes.

The Debt Service Fund (Bond and Interest Fund) accounts for the accumulation of resources for, and the payment ofgeneral long-term debt principal, interest and related costs.

The Capital Projects Fund (Site and Construction Fund) accounts for linancial resources to be used for the acquisitionor construction of major capital facilities.

The Working Cash Fund accounts for financial resources held by the District to be used for temporary and permanentinterfund loans to any other fund in the District.

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JUNE 30, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

Fiduciary Fund Types

Fiduciary Funds are used to account for assets held by the District in a trustee capacity or as an agent for individuals.private organizations. other governments, or other funds.

The Agency Funds (Activity Funds) include both Student Activity Funds and Convenience Accounts. They accountfor assets held by the District as an agent for the students and teachers. These funds are custodial in nature and do notinvolve the measurement of the results of operations. The amounts due to the activity fund organizations are equal tothe assets.

Governmental Funds - Measurement Focus

The linancial statements of all governmental funds focus on the measurement of spending or “financial flow and thedetermination of changes in financial position rather than upon net income determination. This means that onlyculTent assets and current liabilities are generally included on their statement of assets and liabilities arising from cashtransactions. The reported fund balance (net current assets) is considered a measure of “available spendableresources.” Governmental fund operating statements present increases (cash collected and other financing sources)and decreases (cash payments and other financing uses) in net current assets. Accordingly, they are said to present asummary of sources and uses of “available spendable resources” during a period.

General Fixed Assets and General Long-Term Debt Account Group

The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund aredetermined by its measurement focus. Fixed assets used on governmental fund type operations are accounted for inthe General Fixed Assets Account Group, rather than in governmental funds. Long-term liabilities expected to befinanced from governmental funds are accounted for in the General Long-Term Debt Account Group, not in thegovernmental funds.

The two account groups are not “funds.” They are concerned only with the measurement of financial position. Theyare not involved with measurement of results of operations.

C. BASIS OF ACCOUNTING

Basis of accounting refers to when revenues and expenditures are recognized in the accounts and how they arereported on the financial statements. The District maintains its accounting records for all funds and account groups onthe cash basis of accounting under guidelines prescribed by the Illinois State Board of Education. Accordingly,revenues are recognized and recorded in the accounts when cash is collected. In the same manner expenditures arerecognized and recorded upon the payment of cash. Assets of a fund are only recorded when a right to collect cashexists which arises frog~ a previous cash transaction. Liabilities of a fund. similarly. result from previous cashtransactions.

Cash basis financial statements omit recognition of receivables and payables and other accrued and deferred items thatdo not arise from previous cash transactions.

Proceeds from sales of bonds are included as other financing sources in the appropriate fund on the date received.Related bond principal payable in the future is recorded at the same time in the General Long-Term Debt AccountGroup.

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JUNE 30, 2015


D. BUDGETS AND BUDGETARY ACCOUNTING

The budget for all governmental fund types is prepared on the cash basis of accounting which is the same basis that isused in financial reporting, except that the budget basis excludes on-behalf payments for which the District is notlegally responsible. This difference has no effect on the excess (deficiency) of revenues received and other financingsources over (under) expenditures disbursed and other linancing uses because on-behalf revenues received andexpenditures disbursed are equal.

The budget. which was not amended, was passed on September 18. 2014. For each fund, total fund expendituresdisbursed may not legally exceed the budgeted amounts. The budget lapses at the end of each fiscal year.

The District, in accordance with Chapter 105, Section 5/17-1 of the Illinois Compiled Statutes, follows theseprocedures in establishing the budgetary data reflected in the financial statements.

I. Prior to July 1, the Superintendent submits to the Board of Education a proposed operating budgetfor the fiscal year commencing on that date. The operating budget includes proposed expendituresdisbursed and the means of financing them.

2. A public hearing is conducted to obtain taxpayer comments.

3. Prior to October 1. the budget is legally adopted through passage of a resolution.

4. Formal budgetary integration is employed as a management control device during the year.

5. The Board of Education may make transfers between the various items in any fund not exceeding inthe aggregate 10% of the total of such fund as set forth in the budget.

6. The Board of Education may amend the budget (in other ways) by the same procedures required ofits original adoption.

E. CASH AND INVESTMENTS

The Thornton Fractional Township School Treasurer is the official custodian of monies for the school districts withinthe township, including the District, as prescribed by Chapter 105. Section 5, Article 8 of the Illinois CompiledStatutes. The Township School Treasurer’s Office, a legally separate entity under the oversight of the ThorntonFractional Township Trustees of Schools, pools the districts’ monies and invests, on the districts’ behalf, in a cash andinvestment portfolio.

The Township School Treasurer’s Office has adopted a formal written investment and cash management policy. Thepolicy requires collateralization or independent third party insurance for deposits in federally insured institutions inexcess of FDIC coverage limits, and other institutions in which the Treasurer’s Office has invested. The TownshipSchool Trustees must approve the type of institution in which investments are made. The Thornton FractionalTownship School Treasurer is separately audited and is not included in these financial statements. Financialinformation may be obtained directly from the Thornton Fractional Township School Treasurer at 606 BurnhamAvenue, Calumet City. Illinois 60409.

Deposits held in the District’s name, consisting of imprest and activity fund accounts, are reported at cost. TheDistrict’s equity in the Township School Treasurer’s Pool is reported based on the cost or amortized cost of theunderlying deposits and investments of the pool, which approximates fair value. Interest earned is deposited quarterlyinto the participating school districts’ various funds.

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JUNE 30, 2015


F. GENERAL FIXED ASSETS

General fixed assets have been acquired for general governmental purposes. At the time of purchase. assets arerecorded as expenditures disbursed in the Governmental Fund and capitalized at cost in the General Fixed AssetsAccount Group. Donated general fixed assets are stated at estimated fair market value as of the date of acquisition.Depreciation accounting is not considered applicable.

G. MEMORANDUM ONLY - TOTAL COLUMNS

The total columns presented in the combined financial statements are captioned “Memorandum Only” to indicate thatthey are presented only to facilitate financial analysis. No consolidating entries or other eliminations were made in theaggregation of the totals; thus, they do not present consolidated information and do not purport to present financialposition or results of operations of the District as a whole.

H. COMPARATIVE DATA

Comparative totals for the prior year have been presented in the accompanying financial statements in order to providean understanding of changes in the District’s financial position and operations. However, comparative data(presentation of prior year amounts by fund type) in each of the statements has not been included since their inclusionwould make the combined statements unduly complex and difficult to read.

I. USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted accounting principles requiresmanagement to make estimates and assumptions that affect the amounts reported in the financial statements andaccompanying notes. Actual results may differ from those estimates.

J. USE OF RESTRICTED RESOURCES

When both restricted and unrestricted resources are available to use, it is the District’s policy to use restrictedresources first, then unrestricted resources, as they are needed.

K. INVENTORIES

It is the District’s policy to charge all purchases of items for resale or supplies to expenditures when purchased. Noinventory accounts are maintained to reflect the values of resale or supply items on hand.

2. DEPOSITS AND INVESTMENTS

The District is allowed to invest in securities as authorized by the Illinois Compiled Statutes, Chapter 30, Sections235/2 and 235/6; and Chapter 105, Section 5/8-7.

The District’s cash is deposited with the I’hornton Fractional Township School Treasurer’s Office. The Treasurerinvests the cash in a pool under policy guidelines established through the Treasurer’s investment policy. Credit risk,concentration of credit risk, and interest rate risk (as applicable) regarding the cash held by the Treasurer is includedin the annual audited financial statements of the Thornton Fractional Township Trustees of Schools.

All deposits and investments of the District, except imprest and activity fund accounts, are maintained in the externalcash and investment pool managed by the Thornton Fractional Township School Treasurer’s Office. Each fund type’sportion of this pool is displayed on the combined statement of assets and liabilities arising from cash transactions as“Cash/investments - pooled accounts.” As of June 30, 2015, there was no material difference between the fair value

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JUNE 30, 2015

2. DEPOSITS AND INVESTMENTS - CONTINUED

and reported amount of the District’s equity in the pool. The District’s imprest and activity fund accounts at year-endwere entirely covered by federal depository insurance.

3. INTERFUND RECEIVABLES AND PAYABLES

The District had no interfund loans outstanding at June 30, 2015.

4. CHANGES IN GENERAL FIXED ASSETS

A summary of changes in General Fixed Assets follows:

Balance Balance

July 1,2014 Additions Deletions June 30, 2015

Land $ 219,064 $ - $ - $ 219.064

Construction in Progress - - - -

Land Improvements 858,718 818,056 - 1,676.774

Buildings and Improvements 15.294.595 - - 15.294,595

OtherEquipment 1,654,703 631.101 86,032 2,199,772

$ 18,027,080 $ 1.449,157 $ 86,032 $ 19,390,205

5. GENERAL LONG-TERM DEBT

Changes in general long-term debt are summarized as follows:

Balance Balance Due Within

July 1.2014 Additions Reductions June 30. 2015 One Year

General Obligation Bonds $ 30.318.873 $ - $ (775.000) $ 29.543.873 $ 805.000

Capital Lease Obligations 137,361 - (31.231) 106,130 32,742

Total Long-Term Debt $ 30,456,234 $ - $ (806,231) $ 29,650.003 $ 837.742

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JUNE 30, 2015

5. GENERAL LONG-TERM DEBT - CONTINUED

A. BONDS PAYABLE

General obligation bonds payable at June 30, 2015 are comprised of the following individual issues:

Series 2009C Capital Appreciation Taxable Refunding bonds, issued for$6,243,872.75 dated October 8, 2009 (refunding of non-voting portion ofseries 2006C). providing for the serial retirement of principal onDecember 1 with final payment due on June 1. 2029, at rates rangingfrom 6.750 to 7.150 percent through 2029. $ 6.243,873

Series 2012A Refunding Limited School bonds, issued for $3,695,000dated August 15. 2012 (refunding of 2009A limited school bonds and aportion of series 2009B taxable limited school bonds), providing for theserial retirement of principal on December 1 and interest payable on JuneI and December 1, at a rate of 3.10 percent through 2022. 2.820,000

Series 2012B Taxable Refunding Limited School Bonds, issued for$1,740,000 dated August 15, 2012 (refunding a portion of series 2009Btaxable limited school bonds and a portion of series 2009E taxablerefunding school bonds), providing for the serial retirement of principalon December 1 and interest payable on June 1 and December 1, at a rateof 3.90 percent through 2022. 1.355,000

Series 2012C Taxable Refunding School bonds, issued for $20,365,000dated August 15, 2012 (refunding of a portion of series 2009E taxablerefunding school bonds), providing for the serial retirement of principalon December 1 and interest payable on June 1 and December 1 at rates 19.125.000ranging from 1.350 to 5.300 percent through 2032.

$29.543.873

At June 30, 2015 the annual cash flow requirements of bond principal and interest are as follows:

Year Ending

June 30 Principal Interest Total

2016 $ 805,000 $ 972,997 $ 1.777,9972017 1.010.000 947,807 1,957,8072018 1.040.000 918.505 1.958,505

2019 1.565.000 879.739 2,444,739

2020 1,610.000 830,002 2.440,0022021 -2025 8.017.300 7.069,767 15.087,0672026- 2030 6.191.573 12.375,550 18.567,1232031 - 2032 9,305.000 647.950 9,952.950

$ 29,543.873 $ 24,642.317 $ 54,186,190

In prior years. the District defeascd certain general obligation bonds by placing the refunding portion of the proceedsof new bonds in irrevocable trusts to provide for all future debt service payments on the old bonds. Accordingly, thetrust account assets and the liability for the defeased bonds are not included in the District financial statements.

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JUNE 30, 2015

5. GENERAL LONG-TERM DEBT - CONTINUED

As of June 30. 2015, $26,357,737 of bonds outstanding are considered defeased.

As of June 30. 2015. the District’s legal debt margin is zero based on a debt limitation of $6.732.124 equal to 6.9% ofthe 2014 equalized assessed valuation of $97,567,016 and outstanding debt of $29,650,003. The Illinois School Codepermits school districts to issue certain types of bonds, such as the Series 2009 and series 2012 Bonds, in excess ofstatutory debt limitations.

B. OPERATING LEASE OBLIGATIONS

In 2014. the District acquired a copier under the provisions of a lease agreement. The copier’s lease is for five yearsand expires August 2018. All lease terms are subject to annual appropriation of funds for the rental payments.

Year EndingJune 30 Principal Interest Total

2016 $ 32,742 $ 4.318 $ 37.0602017 34,326 2.735 37.0612018 35,986 1,075 37,0612019 3,076 12 3.088

$ 106,130 $ 8.140 $ 114,270

6. DEFICIT FUND BALANCES

At June 30. 2015, the District had no deficit fund balances.

7. PROPERTY TAXES

The Districts property tax is levied each year on all taxable real property located in the District on or before the lastTuesday in December. Property is appraised by the County Assessor at various percentages of fair market value andthen subjected to equalization by the Illinois Department of Revenue to bring the aggregate County level toward thestatutory standard of 33-1/3 of fair market value.

Property taxes levied for any year attach as an enforceable lien on property as of January 1 and are due and payable inthe following calendar year. Real estate tax bills are payable in two installments. The first installment is computed at55% of the prior year’s bill and is mailed in late January with a March 1 due date. The second installment iscomputed after the assessed valuations for the current year have been determined, usually in August or September.Final tax bills are mailed with a penalty date at least 30 days after the date of mailing, but not earlier than August 1.The District receives significant distributions of tax receipts approximately one month after these due dates. TheDistrict considers that the first installment of the 2014 levy is to be used to finance operations in fiscal 2015. TheDistrict has determined that the second installment of the 2014 levy is to be used to finance operations in fiscal 2016.

The Board passed the current levy on December 23, 2014. The following are the tax rate limits permitted by theSchool Code and by local referendum and the actual rates levied per $100.00 of equalized assessed valuation.

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JUNE 30, 2015

7. PROPERTY TAXES - CONTINUED

Actual Actual

Limit 2014 Levy 2013 Levy

Education 3.5000 3.5000 3.5000

Building 0.5500 0.5265 0.2856

Transportation As needed 0.3322 0.0174

Municipal Retirement As needed 0.1076 0.1468

Social Security As needed 0.1076 0.1468

Bond and Interest As needed 4.9637 2.0779

9.5376 6.1745

For taxing districts in Cook County. including the District, the tax rate limit is required to be applied to the equalizedassessed valuation (EAV) of property for the levy year prior to the levy year for which taxes are then being extended.The actual levy rate is stated based on the current EAV of property. As a result, a tax rate may be at its maximum forthe levy year even though it is less than its corresponding limit.

8. OVEREXPENDITURE OF BUDGET

At June 30. 2015. the following funds over expended their budget:

Fund Budget Actual Expenditures Difference

Operation and Maintenance $ 2,205,069 $ 3.310,399 $ 1,105,330Bond and Interest $ 1,758.978 $ 1,778,336 $ 19,358

9. JOINT VENTURES

EXCEPTIONAL CHILDREN HAVE OPPORTUNITIES (A JOINT AGREEMENT)

The District is a participant in Exceptional Children Have Opportunities (ECHO). which was established as a result ofa joint agreement between 17 local public school districts for the purpose of providing special education services tothe children of its member districts. The joint agreement is governed by a Board of Directors composed ofsuperintendents (or an alternative person appointed by the superintendent) from each member district. Completefinancial statements of the joint agreement may be obtained from its administrative office at 350 West 154th Street,South Holland, Illinois 60473.

The District paid $83 1.902 to ECHO for tuition and services during the year ended June 30. 2015.

The following is summary financial information on the joint agreement as of and for the year ended June 30. 2014. themost recent information available:

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JUNE 30, 2015

9. JOINT VENTURES - CONTINUED

Total assets - modified cash basis $ 16.255,465 Revenues Received $ 41,375.927Total liabilities - modified cash basis $ 3.540.103 Expenditures disbursed $ 42,527,240Net assets - invested in capital

assets. modified cash basis $ 5,427,275 Net increase/(dccrease) in fund balance $ (1.151,313)

Unrestricted net assets - modified cash $ 7.288.087Total net assets - modified cash basis $ 12.715,362

10. RISK MANAGEMENT

The District is exposed to various risks of loss including general liability, property and casualty, errors and omissions.workers’ compensation. unemployment compensation, and employee health and accident. In lieu of payingunemployment contributions, the District has elected to reimburse the State of Illinois for the actual amount ofbenefits paid to their former workers. The District has joined together with other school districts to form various poolsthrough which to manage its risk of loss. The District is a member of the Collective Liability Insurance Cooperative(CLIC) for its general liability, property and casualty. and errors and omissions coverage and Illinois Public RiskFund for workers’ compensation coverage. These public entity risk pools operate as common risk management andinsurance programs. They receive premiums from member districts and reinsure through commercial companies tolimit the liability for claims in excess of coverage provided by the pool. The District had no significant decreases incoverage nor have any claims exceeded coverage in the past three fiscal years.

11. CONTINGENCIES

The District has received funding from State and Federal grants in the current and prior years which are subject toaudits by the granting agencies. Such audits could lead to requests for reimbursement to the grantor agency forexpenditures disallowed under terms of the grant. Based on prior experience, District management believes that suchdisallowances, if any, would be immaterial.

12. EMPLOYEE RETIREMENT PROGRAMS

A. TEACHERS RETIREMENT SYSTEM

General Information about the Pension Plan

Plan descriptionThe District participates in the Teachers Retirement System of the State of Illinois (TRS). TRS is a cost-sharingmultiple-employer delined benefit pension plan that was created by the Illinois legislature for the benefit of Illinoispublic school teachers employed outside the City of Chicago. TRS members include all active nonannuitants who areemployed by a TRS-covered employer to provide services for which teacher licensure is required. The Illinois PensionCode outlines the benefit provisions of TRS. and amendments to the plan can be made only by legislative action withthe Governor’s appioval. The TRS Boaid of Trustees is responsible for the System’s administration.

TRS issues a publicly available financial report that can be obtained at j//t~s.illin~isgo~IuhsIcafr; by writing tothe TRS at 2815 W. Washington Street, P.O. Box 19253. Springfield, Illinois 62794; or by calling (888) 877-0890.option 2.

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JUNE 30, 2015

12. EMPLOYEE RETIREMENT PROGRAMS - CONTINUED

Benefits providedTRS provides retirement, disability, and death benefits. Tier I members have TRS or reciprocal system service prior toJanuary 1.2011. Tier I members qualify for retirement benefits at age 62 with five years of service. at age 60 with 10years, or age 55 with 20 years. The benefit is determined by the average of the four highest years of creditableearnings within the last 10 years of creditable service and the percentage of average salary to which the member isentitled. Most members retire under a formula that provides 2.2 percent of final average salary up to a maximum of 75percent with 34 years of service. Disability and death benefits are also provided.

Tier II members qualify for retirement benefits at age 67 with 10 years of service, or a discounted annuity can be paidat age 62 with 10 years of service. Creditable earnings for retirement purposes are capped and the final average salaryis based on the highest consecutive eight years of creditable service rather than the last four. Disability provisions forTier II are identical to those of Tier I. Death benefits are payable under a formula that is different from Tier I.

Essentially all Tier I retirees receive an annual 3 percent increase in the current retirement benefit beginning January 1following the attainment of age 61 or on January 1 following the member’s first anniversary in retirement, whicheveris later. Tier II annual increases will be the lesser of three percent of the original benefit or one-half percent of the rateof inflation beginning January 1 following attainment of age 67 or on January 1 following the member’s firstanniversary in retirement, whichever is later.

ContributionsThe State of Illinois maintains the primary responsibility for funding TRS. The Illinois Pension Code, as amended byPublic Act 88-0593 and subsequent acts, provides that for years 2010 through 2045, the minimum contribution to theSystem for each fiscal year shall be an amount determined to be sufficient to bring the total assets of the System up to90 percent of the total actuarial liabilities of the System by the end of fiscal year 2045.

Contributions from active members and TRS contributing employers are also required by the Illinois Pension Code.The contribution rates are specified in the pension code. The active member contribution rate for the year ended June30, 2015, was 9.4 percent of creditable earnings. The member contribution, which may be paid on behalf ofemployees by the employer, is submitted to TRS by the employer.

On-behalf contributions to TRS. The State of Illinois makes employer pension contributions on behalf of the District.For the year ended June 30, 2015, State of Illinois contributions recognized by the employer were based on the State’sproportionate share of the collective net pension liability associated with the employer, and the employer recognizedrevenue and expenditures of $2,050,537 in pension contributions freim the State of Illinois.

2.2 formula contributions. Employers contribute 0.58 percent of total creditable earnings for the 2.2 formula change.The contribution rate is specified by statute. Contributions for the year ended June 30. 2015. were $36.l64, and aredeferred because they were paid after the June 30, 2014 measurement date.

Federal and special trust fund contributions. When TRS members are paid from federal and special trust fundsadministered by the District, there is a statutory requirement for the District to pay an employer pension contributionfrom those lunds. Under a policy adopted by the TRS Board of Trustees that has been in effect since the fiscal yearended June 30. 2006, employer contributions for employees paid from federal and special trust funds will be the sameas the State contribution rate to TRS. Public Act 98-0674 now requires the two rates to be the same.

For the year ended June 30. 2015. the employer pension contribution was 33.00 percent of salaries paid from federaland special trust funds. For the year ended June 30. 2015 salaries totaling $13,983 were paid from federal and specialtrust funds that required employer contributions of $4,614. These contributions are deferred because they were paidafter the June 30, 2014 measurement date.

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Early retirement cost contribution. Under GASB Statement No. 68, contributions that an employer is required to paybecause of a TRS member retiring are categorized as specific liability payments. The employer is required to make aone-time contribution to TRS for members retiring under the Early Retirement Option (ERO). The payments varydepending on the member’s age and salary. The maximum employer ERO contribution under the current program is146.5 percent and applies when the member is age 55 at retirement. For the year ended June 30. 2015, the employerpaid $0 to TRS for employer ERO contributions.

The employer is also required to make a one-time contribution to TRS for members granted salary increases over 6percent if those salaries are used to calculate a retiree’s final average salary. A one-time contribution is also requiredfor members granted sick leave days in excess of the normal annual allotment if those days are used as TRS servicecredit. For the year ended June 30, 2015, the employer paid $0 to TRS for employer contributions due on salaryincreases in excess of 6 percent and $0 for sick leave days granted in excess of the normal annual allotment.

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of ResourcesRelated to Pensions

At June 30, 2015, the employer reported a liability for its proportionate share of the net pension liability (first amountshown below) that reflected a reduction for State pension support provided to the employer. The State’s support andtotal are for disclosure purposes only. The amount recognized by the employer as its proportionate share of the netpension liability, the related State support, and the total portion of the net pension liability that was associated with theemployer were as follows:

Employers proportionate share of the net pension liability $ 636,400State’s proportionate share of the net pension liability associated with the employer 36,773,147Total $ 37,409,547

The net pension liability was measured as of June 30. 2014. and the total pension liability used to calculate the netpension liability was determined by an actuarial valuation as of June 30, 2013, and rolled forward to June 30. 2014.The employer’s proportion of the net pension liability was based on the employer’s share of contributions to TRS forthe measurement year ended June 30, 2014, relative to the projected contributions of all participating TRS employersand the State during that period. At June 30, 2014, the employer’s proportion was .0010457089% percent.

The net pension liability as of the beginning of this first measurement period under GASB Statement No. 68 wasmeasured as of June 30. 2013, and the total pension liability was based on the June 30. 2013. actuarial valuationwithout any roll-up. The employer’s proportion of the net pension liability as of June 30. 2013, was based on theemployer’s share of contributions to TRS for the measurement year ended June 30, 2013. relative to the projectedcontributions of all participating TRS employers and the State during that period. At June 30. 2013, the employer’sproportion was .0013072153% percent.

For the year ended June 30, 2015, the employer recognized pension expense of $2,050,537 and revenue of $2,050,537for support provided by the State. At June 30, 2015, the employer reported deferred outflows of resources anddeferred inflows of resources related to pensions were from the following sources:

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JUNE 30, 2015


Differences between expected and actual experienceNet difference between projected and actual earnings on pension planinvestmentsChanges in proportion and differences between employercontributions and proportionate share of contributionsTotal

Deferred Outflows ofResources

$ 336

$ 336

Deferred Inflows ofResources

$

31.984

131.833$ 163.817

$0 reported as deferred outflows of resources related to pensions resulting from employer contributions subsequent tothe measurement date will be recognized as a reduction of the net pension liability in the reporting year ended June 30.2016. Other amounts reported as deferred outflows of resources and (deferred inflows) of resources related topensions will be recognized in pension expense as follows:

Year ended June 30:$ (39.913)$ (39.913)$ (39,913)$ (39,913)$ (3,830)

Actuarial AssumptionsThe total pension liability in the June 30, 2014 actuarial valuation was determined using the following actuarialassumptions, applied to all periods included in the measurement:

InflationSalary IncreasesInvestment rate of return

3.00 percent5.75 percent. average, including inflation7.5 percent, net of pension plan investment expense, including inflation

Mortality rates were based on the RP-2000 White Collar Table with projections using scale AA that vary by membergroup.

For GASB disclosure purposes. the actuarial assumptions for the years ended June 30. 2014 and 2013 were assumedto be the same. However, for funding purposes. the actuarial valuations for those two years were different. Theactuarial assumptions used in the June 30, 2014 valuation were based on updates to economic assumptions adopted in2014 which lowered the investment return assumptions from 8.0 percent to 7.5 percent. The salary increase andinflation assumptions were also lowered. The actuarial assumptions used in the June 30, 2013 valuation were based onthe 2012 actuarial experience analysis and first adopted in the June 30. 201 2 valuation. The investment returnassumption was lowered from 8.5 percent to 8.0 percent and the salary increase and inflation assumptions wer@ alsolowered. Mortality assumptions were adjusted to anticipate continued improvement in mortality.

The long-term expected rate of return on pension plan investments was determined using a building-block method inwhich best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investmentexpense and inflation) arc developed for each major asset class. These ranges are combined to produce the long-termexpected rate of return by weighting the expected future real rates of return by the target asset allocation percentageand by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for eachmajor asset class that were used by the actuary are summarized in the Following table:

20162017201820192020

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Target Long-Term ExpectedAsset Class Allocation Real Rate of ReturnU.S. large cap 18% 8.23%Global equity excluding U.S. 18% 8.58%Aggregate bonds 16% 2.27%U.S. TIPS 2~ 3.52%NCREIF 11% 5.81%Opportunistic real estate 4(3 9.79%ARS 8(3 3.27%Risk parity 8(3 5.57%Diversified inflation strategy I (3 3.96%Private equity 14(3 13.03%Total 100(3

Discount rateThe discount rate used to measure the total pension liability was 7.50 percent. The projection of cash flows used todetermine the discount rate assumed that employee contributions, employer contributions, and State contributions willbe made at the current statutorily-required rates.

Based of those assumptions, TRS’s fiduciary net position was projected to be available to make all projected futurebenefit payments of current active and inactive members and all benefit recipients. Tier I ‘s liability is partially-fundedby Tier II members, as the Tier II member contribution is higher than the cost of Tier II benefits. Due to this subsidy.contributions from future members in excess of the service cost are also included in the determination of the discountrate. Therefore, the long-term expected rate of return on TRS investments was applied to all periods of projectedbenefit payments to determine the total pension liability.

Sensitivity of the employer’s proportionate share of the net pension liability to changes in the discount rateThe following presents the employer’s proportionate share of the net pension liability calculated using the discountrate of 7.5 percent. as well as what the employer’s proportionate share of the net pension liability would be if it werecalculated using a discount rate that is I-percentage-point lower (6.5 percent) or 1-percentage-point higher (8.5percent) than the current rate.

Current1% Decrease Discount Rate 1% Increase

(6.5%) (7.5%) (8.5%)Employer’s proportionate share of the netpension liability $ 785.923 $ 636,400 $ 512,578

R IMRF PENSION PLAN

GASB 50

Plan Description. The District’s defined benefit pension plan for Regular employees provides retirement anddisability benefits, post retirement increases, and death benefits to plan members and beneficiaries. The District planis affiliated with the Illinois Municipal Retirement Fund (IMRF), an agent multiple-employer plan. Benefit provisionsare established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues apublicly available financial report that includes financial statements and supplementary information (SI). That reportmay be obtained on-line at ~w.in~rf.~g.

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JUNE 30, 2015


Funding Policy. As set by statute, the District’s Regular plan members are required to contribute 4.50 percent of theirannual covered salary. The statute requires employers to contribute the amount necessary, in addition to membercontributions, to finance the retirement coverage of its own employees. The District annual required contribution ratefor calendar year 2014 was 12.51 percent. The District also contributes for disability benefits, death benefits, andsupplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates 6r disability anddeath benefits are set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by statute.

Annual Pension Cost. For fiscal year ending June 30. 2015. the District’s actual contributions for pension cost forregular were $216,775. Its required contribution for fiscal year 2015 was $216,775.

Annual required contributionInterest on net pension obligationARC adjustment

Annual pension costContribution madeIncrease in net pension oblig.NPO beginning of yearNPO ending of year

AnnualYear Pension

Ending Cost (APC)06/30/15 $217,21306/30/14 $220,91106/30/13 $214,445

June 30. 2015S 216,775

1,717(1,279)

217,213(216,775)

43822,891

$ 23,329

THREE-YEAR TREND INFORMATION FOR THE REGULAR PLAN

Percentageof APC Net Pension

— Contributed Obligation99% $23,32999% $22,89199% $22,435

The required contribution for 2014 was determined as part of the December 31, 2012, actuarial valuation using theentry age normal actuarial cost method. The actuarial assumptions at December 31, 2012, included (a) 7.5 percentinvestment rate of return (net of administrative and direct investment expenses), (b) projected salary increases of4.00% a year, attributable to inflation, (c) additional projected salary increases ranging from 0.4% to 10.0°% per yeardepending on age and service, attributable to seniority/merit, and (d) post retirement benefit increases of 3% annually.The actuarial value of the District’s Regular plan assets was determined using techniques that spread the effects ofshort-term volatility in the market value of investments over a five-year period with a 20% corridor between theactuarial and market value of assets. The District’s Regular plan’s unfunded actuarial accrued liability at December31, 2012 is being amortized as a level percentage of projected payroll on an open 29 year basis.

Funded Status and Funding Progress. As of December 31, 2014. the most recent actuarial valuation date, the Regularplan was 72.79 percent funded. The actuarial accrued liability for benefits was $4,937,646 and the actuarial value ofassets was $3,594,173. resulting in an underfunded actuarial accrued liability (UAAL) of $1,343,473. The coveredpayroll for calendar year 2014 (annual payroll of active employees covered by the plan) was $1,765,560 and the ratioof the UAAL to the covered payroll was 76 percent.

The schedule of funding progress, presented as supplementary information following the notes to the financialStatements, presents multiyear trend information about whether the actuarial value of plan assets is increasing ordecreasing over time relative to the actuarial accrued liability for benefits.

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GASB 68

Plan DescriptionThe District’s defined benefit pension plan for regular employees provides retirement and disability benefits,post-retirement increases, and death benefits to plan members and beneficiaries. The District’s plan is managed bythe Illinois Municipal Retirement Fund (IMRF), the administrator of a multi-employer public pension fund. Asummary of IMRF’s pension benefits is provided in the “Benefits Provided” section of this document. Details of allbenefits are available from IMRF. Benefit provisions are established by statute and may only be changed by theGeneral Assembly of the State of Illinois. IMRF issues a publicly available Comprehensive Annual FinancialReport that includes financial Statements, detailed information about the pension plan’s fiduciary net position. andsupplementary information. The report is available for download at www.imrf.org.

Benefit ProvidedIMRF benefit plans have two tiers. Employees hired before January 1, 2011, are eligible for Tier I benefits. Tier 1employees are vested for pension benefits when they have at least eight years of qualifying service credit. Tier 1employees who retire at age 55 (at reduced benefits) or after age 60 (at full benefits) with eight years of service areentitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate ofearnings for the first 15 years of service credit, plus 2% for each year of service credit after 15 years to a maximum of75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any consecutive 48months within the last 10 years of service, divided by 48. Under Tier I. the pension is increased by 3% of the originalamount on January 1 every year after retirement.

Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees, pension benefitsvest after ten years of service. Participating employees who retire at age 62 (at reduced benefits) or after age 67 (at fullbenefits) with ten years of service are entitled to an annual retirement benefit, payable monthly for life, in an amountequal to 1-2/3% of the final rate of earnings for the first 15 years of service credit, plus 2% for each year of servicecredit after 15 years to a maximum of 75% of their final rate of earnings. Final rate of earnings is the highest totalearnings during any 96 consecutive months within the last 10 years of service, divided by 96. Under Tier 2, thepension is increased on January 1 every year after retirement, upon reaching age 67, by the lesser of:

3% of the original pension amount, or1/2 of the increase in the Consumer Price Index of the original pension amount.

Employees Covered by Benefit TermsAs of December 31. 2014. the following employees were covered by the benefit terms:

IMRFRetirees and Beneficiaries currently receiving benefits 185Inactive Plan Members entitled to but not yet receiving benefits 165

Active Plan Members 54Total 404

ContributionsAs set by statute, the District’s Regular Plan Members are required to contribute 4.5% of their annual covered salary.The statute requires employers to contribute the amount necessary, in addition to member contributions, to finance theretirement coverage of its own employees. The District’s annual contribution rate for calendar year 2014 was 12.5 1%.For the fiscal year ended June 30, 2015, the District contributed $216,775 to the plan. The District also contributes fordisability benefits, death benefits, and supplemental retirement benefits, all of which are pooled at the IMRF level.Contribution rates for disability and death benefits are set by IMRF’s Board of Trustees, while the supplementalretirement benefits rate is set by statute.

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Net Pension LiabilityThe DistrictTh net pension liability was measured as of December 31, 2014. The total pension liability used tocalculate the net pension liability was determined by an actuarial valuation as of that date.

Actuarial AssumptionsThe following are the methods and assumptions used to determine total pension liability at December 31. 2014:• The Actuarial Cost Method used was Entry Age Normal.• The Asset Valuation Method used was Market Value of Assets.o The Inflation Rate was assumed to be 3.5%.• Salary Increases were expected to be 3.75% to 14.50%. including inflation.• The Investment Rate of Return was assumed to be 7.50%.• Projected Retirement Age was from the Experience-based Table of Rates. specific to the type of eligibility

condition, last updated for the 2014 valuation according to an experience study from years 201110 2013.• The IMRF-specific rates for Mortality (for non-disabled retirees) were developed from the RP-2014 Blue Collar

Health Annuitant Mortality Table with adjustments to match current IMRF experience.• For Disabled Retirees, an IMRF-specific mortality table was used with fully generational projection scale MP

2014 (base year 2014). The IMRF-specific rates were developed from the RP-2014 Disabled Retirees MortalityTable, applying the same adjustments that were applied for non-disabled lives.

• For Active Members, an IMRF-specific mortality table was used with fully generational projection scale MP2014 (base year 2014). The IMRF-specific rates were developed from the RP-2014 Employee Mortality Tablewith adjustments to match current IMRF experience.

• The long-term expected rate of return on pension plan investments was determined using a building-block methodin which best-estimate ranges of expected future real rates of return (expected returns, net of pension planinvestment expense, and inflation) are developed for each major asset class. These ranges are combined toproduce the long-term expected rate of return by weighting the expected future real rates of return to the targetasset allocation percentage and adding expected inflation. The target allocation and best estimates of geometricreal rates of return for each major asset class are summarized in the following table:

Long-TermPortfolio ExpectedTarget Real Rate of

Asset Class Percentage ReturnDomestic Equity 38% 7.60%International Equity 17% 7.80%Fixed Income 27% 3.00%Real Estate 8% 6.15%Alternative Investments 9% 5.25-8.50%Cash Equivalents 1% 2.25%Total 100%

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Market Value of Assets as of December 31, 2014Employee Contribution Reserve (MDF Assets from IMRF) $ 1.395.026Employer Contribution Reserve (EAF assets from IMRF) 2.8 14,270Annuitant Reserve 2.707.565Assumed Transfer from Employer Reserve for Annuitants Mortality Change (122.1 28)Miscellaneous Adjustrnent* (50,223)Net Market Value $ 6,744,5 10

* Includes an adjustment factor of .00739151 on the above reserves to ensure that Market Value of Assets for

all employers balances to the total Market Value of IMRF. Miscellaneous adjustments are due to various

items such as suspended annuity reserves, disability benefit reserve, death benefit reserve, supplemental

benefit reserve, employers with no assets. etc.

Single Discount RateA Single Discount Rate of 7.50% was used to measure the total pension liability. The projection of cash how used todetermine this Single Discount Rate assumed that the plan members’ contributions will be made at the currentcontribution rate, and that employer contributions will be made at rates equal to the difference between actuariallydetermined contribution rates and the member rate. The Single Discount Rate reflects:

1. The long-term expected rate of return on pension plan investments (during the period in which thefiduciary net position is projected to be sufficient to pay benefits), and

2. The tax-exempt municipal bond rate based on an index of 20-year general obligation bonds with anaverage AA credit rating (which is published by the Federal Reserve) as of the measurement date (tothe extent that the contributions for use with the long-term expected rate of return are not met).

For the purpose of the most recent valuation, the expected rate of return on plan investments is 7.50%. the municipalbond rate is 3.56%. and the resulting single discount rate is 7.48%.

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Changes in the Net Pension Liability

Total Pension Plan Fiduciary Net PensionLiability Net Position Liability

(A) (B) (A)-(B)BalancesatDecember3l,2013 $ 6.869.714 $ 6.308,653 $ 561.061Changes for the year:

Service Cost 211,654 - 211.654Interest on the Total Pension Liability 512.550 - 512.550Changes of Benefit Terms - -

Differences Between Expected and ActualExperience of the Total Pension Liability (4,449) - (4.449)

Changes of Assumptions 355,299 355.299Contributions- Employer - 209.925 (209,925)Contributions- Employee - 79,533 (79.533)Net Investment Income - 385,579 (385,579)Benefit Payments. including Refunds of

Employee Contributions (264,839) (264,839) -

Other (Net Transfer) - 25,659 (25,659)Net Changes 810,215 435,857 374,358

Balances at December 31, 2014 $ 7,679,929 $ 6,744,510 $ 935,419

Sensitivity of the Net Pension Liability to Changes in the Discount RateThe following presents the plan~s net pension liability, calculated using a Single Discount Rate of 7.48%, as well aswhat the pians net pension liability would be if it were calculated using a Single Discount Rate that is 1% lower or1% higher:

Current Single1% Decrease Discount 1% Increase

6.48% 7.48% 8.48%Total Pension Liability $ 8.655,436 $ 7.679,929 $ 6,867.9 10Plan Fiduciary Net Position 6.744,5 10 6,744,510 6,744,510Net Pension Liability/(Asset) $ 1,910,926 $ 935,419 $ 123,400

Pension Expense. Deferred Outflows of Resources, and Deferred Inflows of Resources Related to PensionsFor the calendar year ended December 31. 2014, the District’s pension expense was $463,468.

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Expense/(Income)I. Service Cost2. Interest on the Total Pension Liability3. Current-Period Benefit Changes4. Employee Contribution (made negative for addition here)5. Projected Earnings on Plan Investments (made negative ftw addition here)6. Other Changes in Plan Fiduciary Net Position7. Recognition of Outflow (Inflow) of Resources due to Liabilities8. Recognition of Outflow (Inflow) of Resources due to Assets

At December 31. 2014, the District’s deferred outflows of resources and deferred inflows of resources related topensions were from the following sources:

Outflows and Inflows of Resources by Source to berecognized in Current Pension ExpenseDifference between expected and actual experienceAssumption changesNet difference between projected and actual

earnings on pension plan investmentsTotal

Net Outflows ofResources

$ 301,59917,891

$ 319,490

Net Outflows ofResources

$ (3,824)305,423

Net DeferredOutflows ofResources

$ (625)49.876

71,564

$ 120.815

$ 211.654512,550

(79.533)(475.034)

(25,659)301.599

17,891$ 463,468

Outflows and Inflows of Resources due to Liabilities Outflows ofand Assets to be recognized in Current Pension Expense ResourcesDue to Liabilities $ 305,423Due to Assets 17,891Total $ 323,314

Inflows ofResources

3,824$

$ 3,824

Inflows ofResources

3.824$

$ 3,82417,891

$ 319,490

Outflows ofResources$

305.423

17,891$ 323,314

DeferredOutflows ofResources

$49,876

71,564

$ 121.440

Deferred Amounts to be Recognized in Pension Expensein Future PeriodsDifferences between expected and actual experienceChanges of assumptionsNet difference between projected and actual

earnings on pension plan investments

Total Deferred Amounts to be recognized inpension expense in future periods

Deferred Inflowsof Resources

625$

$ 625

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JUNE 30, 2015

12. EMPLOYEE RETIREMENT PROGRAMS CONTINUED

Deferred outflows of resources to be recognized in future pension expenses:

Year EndingDecember 31

20152016201720182019

ThereafterTotal

13. POSTEMPLOYMENT BENEFITS

A. TEACHER HEALTH INSURANCE SECURITY

$

The District participates in the Teacher Health Insurance Security (THIS) Fund, a cost-sharing, multiple-employerdefined benefit postemployment healthcare plan that was established by the Illinois legislature for the benefit ofretired Illinois public school teachers employed outside the City of Chicago. The THIS Fund provides medical,prescription, and behavioral health benefits, but it does not provide vision, dental, or life insurance benefits toannuitants of the Teachers’ Retirement System (TRS). Annuitants not enrolled in Medicare may participate in thestate-administered participating provider option plan or choose from several managed care options. Annuitants whowere enrolled in Medicare Parts A and B may be eligible to enroll in Medicare Advantage plans.

The State Employees Group Insurance Act of 1971 (5 ILCS 375) outlines the benefit provisions of THIS Fund andamendments to the plan can be made only by legislative action with the Governor’s approval. Effective July 1,2012,in accordance with Executive Order 12-0 1, the plan is administered by the Illinois Department of Central ManagementServices (CMS) with the cooperation of TRS. Section 6.6 of the State Employees Group Insurance Act of 1971requires all active contributors to the TRS who are not employees of the state make a contribution to THIS fund.

The percentage of employer required contributions in the future will be not exceed 105 percent of the percentage ofsalary actually required to be paid in the previous fiscal year.

On behalf contributions to the THIS Fund. The State of Illinois makes employer retiree health insurance contributionson behalf of the District. State contributions are intended to match contributions to the THIS Fund from activemembers which were 1.02 percent of pay during the year ended June 30, 2015. State of Illinois contributions were$63,523, and the District recognized revenue and expenditures of this amount during the year.

~mployer contributions to the THIS Fund. The District also makes cuittiibutions to the THIS Fund. The employerTHIS Fund contribution was 0.76 percent during the year ended June 30. 2015. For the year ended June 30, 2015. theDistrict paid $47,331 to the THIS Fund, which was 100 percent of the required contribution.

Further information on the THIS FundThe publicly available financial report of the THIS Fund may be found on the website of the Illinois Auditor General:hw://~~~ The current reports are listed “Central ManagementServices.” Prior reports are available under “Healthcare and Family Services.”

Net DeferredOutflows ofResources

67.14217,89117,89117,891

$ 120,815

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13. POSTEMPLOYMENT BENEFITS - CONTINUED

B. HEALTH INSURANCE PLAN FOR RETIRED EMPLOYEES

The District implemented Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting andFinancial Reporting by Employers for Posteinployment Benefits Other Than Pensions, for certain postemploymenthealth benefits provided by the District.

Plan Description. The District~s Health Insurance Plan for Retired Employees provides limited health care coveragefor its eligible retired employees.

Certified Teachers and Administrators. Employees must have 20 or more years of full-time service with at least 15with the District. The District pays a reimbursement of $1.500 per year toward the cost of health/major medical orprescription drug insurance. The reimbursement ends upon qualification for Medicare Part B. Retirees cannot continueon the District plan into retirement.

IMRF employees. Employees must meet the following Illinois Municipal Retirement Fund (“IMRF’) requirements forparticipation in the IMRF retirement program. Employees may continue health care into retirement on the Districtplan on a retiree-pay-all basis. Coverage can also be elected for spouses and eligible dependents if they were coveredon the plan before the employee retired. Coverage continues until premium payment ceases.

Membership in the plan consisted of the following as of:

June 30, 2015Participants

Actives Fully Eligible to Retire 19Actives Not Yet Fully Eligible to Retire 125Retirees 0

Total 144

ANNUAL OPEB COST AND NET OPEB OBLIGATIONS

June 30. 2015Annual required contribution $ 37.040

Interest on net OPEB obligation -

Adjustment to annual required contribution -

Annual OPEB cost 37.040

Contributions made (3.703)

Increase (decrease) in net OPEB obligation 33,337

Net OPEB obligation at beginning of year -

Net OPEB obligation at end of year $ 33.337

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THREE-YEAR TREND INFORMATION

PercentageFiscal Annual of OPEB NetYear OPEB Cost OPEB

Ending Cost Contributed Obligation

6/30/2015 $ 37,040 10.00% $ 33.337

ANNUAL REQUIRED CONTRIBUTION

June 30, 2015Normal Cost $ 25,1 17Interest on Normal Cost 1,005Normal Cost Component 26,122

Actuarial Accrued Liability (AAL) $ 314,944Actuarial Value of AssetsUnfunded Actuarial Accrued Liability (UAAL) $ 314,944

Amortization Period (years) 30Investment Rate of Return 4.00%Amortization Factor 30.0000Annual Amortization 10,498Interet on Amortization Payment 420Amortization Component $ 10.9 18

Normal Cost Component $ 26,122Amortization Component 10,918Annual Required Contribution $ 37,040

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JUNE 30, 2015


FUNDING POLICY AND ACTUARIAL ASSUMPTIONS

Measurement Date July 1. 2014

Participant Data

Employee and retiree data was supplied by the plan sponsor as of the census date.Data on persons receiving benefits was supplied by the plan sponsor.

Fiscal Year July 1 June 30

Actuarial cost method Entry Age Normal

Asset vaulation method N/A

Benefits Not Included None

Nature of Actuarial Calculations

The results are estimates based on assumptions about future events. Assumptionsmay be made about participant data or other factors. All approximations andassumptions are noted. Reasonable efforts were made in this valuation to ensurethat significant items in the context of the actuarial liabilities or costs are treatedappropriately, and not excluded or included inappropriately. Actual futureexperience will differ from the assumptions used. As these differences arises, theexpense for accounting purposes will be adjusted in future valuations to reflect suchactual experience.

Discount Rate 4.00%

Salary Rate Increase 4.00%

Expected Rate of Return on Assets N/A

Health Care Trend 5.00% - 6.42%

Retiree Contribution Trend Same as Health Care Trend

Retiree Contributions Medical Plan Retiree $6~8l7 / Spouse $7161

Morbidity

Under Age 65 4.00%. 65-69 3.00%, 70-74 2.50%. 75-85 2.009/. and 86+ 0.00%

Election at Retirement

0% of IMRF employees are assumed to elect coverage continuation coverage atretirement. 90% of Certified Teachers & Administrators are assumed to elect theDistrict stipend at retirement. 100% of those with 10 years of free coverage on theDistrict plan at retirement are assumed to elect it.

Coverage Status

Employees are assumed to continue into retirement at their culTent coverage level.

Marital Status

50% of employees electing coverage continuation are assumed to be married and toelect spousal coverage with males three years older than females.

23 of 24


JUNE 30, 2015

14. PERMANENT TRANSFERS

Operations and MaintanenceEducation Fund

IN OUT$ 1.416.115 $ -

- 1.416,115$ 1.416.115 $ 1.416,115

The permanent transfer activity above represents transfers of cash among the various governmental funds foroperating purposes.

Cook County Tax Extension department levied taxes to pay principal and interest related to the 2001 and 2005General Obligation Bonds. The amount extended by the County was $560.000 for the 2001 GO Bond Issue and$1 .975,000 for the 2005 GO Bond Issue. These two bond issues had been refunded by later bond issues authorized bythe School District and therefore have been fully repaid. Since these two bond issues have been repaid, no taxextension for these bond issues should have been made. The School District Board has discussed this issue with theirlegal counsel and has determined that the School District will abate future Debt Service tax levies by the amount oftaxes that are collected related to these two tax levies. Per the 2014 levy collections received at June 30, 2015. theamount of $184,247 was related to the 2001 GO Bond Issue and $651,949 was related to the 2005 GO Bond Issuetotaling $836,196.

15. SUBSEQUENT EVENT- COOK COUNTY LEVY

24 of 24

CALUMET CITY SCHOOL DISTRICT NO. 155TEACHERS’ RETIREMENT SYSTEMSUPPLEMENTARY INFORMATION

SCHEDULE OF EMPLOYER LIABILITY AND CONTRIBUTIONSJUNE 30, 2015

TRS fiduciary net positionDetailed information about the TRS~s fiduciary net position as of June 30. 2014 is available in theseparately issued TRS Comprehensive Annual Financial Report.

S CHEDULE OF THE FMPLOYFR’ S PROPORTIONATE S HARE OF THE NET PFNS ION LIABILITYTeachers’ Retirement Sys tern of the State of Illinois

Fiscal Year 2015*

Employers proportion of the net pension liability 0.0O10457089~Employers proportionate share of the net pension liability $ 636,400States proportionate share of the net pension liability associated with the employer 36,773,147Total $ 37,409,547Employers covered-employee payroll $ 5,957.943Employers proportionate share of the net pension liability as a percentage of its covered-employee payroll 10.7%Plan liduciaiy net position as a percentage of the total pension liability 43.0%* the amounts presented were determined as ofthe fiscal-year ended 6/30/14.

S CHFDULE OF FMPLOYFR CONTRIBIJ~IONSTeachers’ Retirement Sys tern of the State of Illinois

FIscal Year 2015

Contractu ally-required contribution $ 40.735Contributions in relation to the contractually-required contribution 40,778Contribution deficiency (excess) $ (43)Employers covered-employee payroll $ 6.227,730Contribution as a percentage of covered-employee payroll 0.7%

Notes to Supplementary Information

Chances of assumptionsAmounts reported in 2014 reflect an investment rate of return of 7.5 percent, an inliation rate of 3.0 percentand real return of 4.5 percent. and a salary increase assumption of 5.75 percent. In 2013, assumptions usedwere an investment rate of return of 8.0 percent, an inflation rate of 3.25 percent and real return of 4.75percent. and salary increases of 6.00 percent. However, the total pension liability at the beginning and endof the year was calculated using the same assumptions. so the difference due to actuarial assumptions wasnot calculated or allocated.

For more information, see Note 12-A.

I of I

CALUMET CITY SCHOOL DISTRICT NO. 155ILLINOIS MUNICIPAL RETIREMENT FUND

SUPPLEMENTARY INFORMATIONSCHEDULE OF FUNDING PROGRESS

JUNE 30, 2015

Actuarial UAAL as aActuarial Accrued Unfunded Percemtage

Actuarial Value of Liability (AAL) AAL Funded Covered of CoveredValuation Assets -Entry Age (UAAL) Ratio Payroll Payroll

Date (a) (b) (b-a) (a/b) (c) ((b-a)/c)

12/31/14 $ 3.594,173 $ 4,937,646 $ 1.343.473 72.79% $ 1,765,560 76.09%

12/31/13 $ 3,264.168 $ 4,399.432 $ 1.135.264 74.20% $ 1.717,938 66.08%

12/31/12 $ 3,277,064 $ 4,448,931 $ 1,171,867 73.66% $ 1.627,908 71.99%

On a market value basis, the actuarial value of assets as of December 31, 2014 is $4,209,296. On a market basis, thefunded ratio would be 85.25%.

The actuarial value of assets and accrued liability cover active and inactive members who have service credit with CalurnetCity School District 155. They do not include amounts for retirees. The actuarial accrued liability for retirees is 100%funded.

For information regarding pension contribution percentages rates, assumptions and amortization method, see Note 12-B.

I of 3


SUPPLEMENTARY INFORMATIONSCHEDULE OF CHANGES IN THE NET PENSION

LIABILITY AND RELATED RATIOSMOST RECENT CALENDAR YEAR

JUNE 30, 2015

Calendar Year Fnded December 31, 2014Total Pension Liability

ServiceCost $ 211.654Interest on the Total Pension Liability 512,550Changes of Benefit Terms -

Differences Between Expected and Actual Experience of theTotal Pension Liability (4.449)

Changes of Assumptions 355.299Benefit Payments. including Refunds of Employee Contributions (264.839)Net Change in Total Pension Liability 810,215Total Pension Liability - Beginning 6,869,714Total Pension Liability - Ending (A) $ 7,679,929

Plan Fiduciary Net PositionContributions-Employer $ 209,925Contributions- Employees 79,533Net Investment Income 385.579Benefit Payments, including Refunds of Employee Contributions (264.839)Other (Net Transfers) 25,659Net Change in Plan Fiduciary Net Position 435,857Plan Fiduciary Net Position - Beginning 6,308,653Plan Fiduciary Net Position - Ending (B) $ 6,744.510

Net Pension Liability - Fi~ding (A) - (B) $ 935,419

Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 87.82%

Covered Valuation Payroll $ 1,765.560

Net Pension Liability as a Percentage of Covered Valuation Payroll 52.98%

Notes to Schedule:

This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full

10-year trend is compiled, information is piesented for those years for which information is available.

For more information, see Note 12-B.

2 of 3


SUPPLEMENTARY INFORMATIONSCHEDULE OF EMPLOYER CONTRIBUTIONS

MOST RECENT CALENDAR YEARJUNE 30, 2015

Actuarially Actual Contribution as aCalendar Year Ended Determined Actual Contribution Covered Valuation Percentage of Covered

December 31, Contribution Contribution Deficiency (Excess) Payroll Valuation Payroll2014 S 209926 S 209,925 5 1 S 1.765,560 11.89%

Valuation Date:Notes

Actuarially determined contribution rates are calculated as of December 3] each year.which arc 12 months prior to the beginning of the fiscal year in ~1lich contributions arereported.

Methods and Assumptions Used to Determine 2014 Contribution Rates:

Actuarial Cost Method: Aggregate entry age = normal

Amortization Method: Level percentage of payroll, closed

Remaining Amortization Period: 29-year closed period

Asset Valuation Method: 5-year smoothed market; 20% corridor

Wage Growth: 4%

Price Inflation: 3%, approximate; No explicit price inflation assumption is used in this valttation.

Salary Increases: 4.40% to 16%. including inflation

Investment Rate of Return: 7.50%Retirement Age: Experience-based table of rates that are specific to the type of eligibility condition; last

updated for the 201] valuation pursuant to an experience study of the period 2008 to2010.

Mortality:RP-2000 Combined Healthy Mortality Table, adjusted for mortality improvements to2020 using projection scale AA. For men, 120% of the table rates were used. Forwoolen, 92 percent of the table rates were used. For disabled lives, the mortality ratesare the rates applicable to non-disabled lives set forward 10 years.

Other Information: There were no benefit changes during the year.

Notes to Schedule:

Summary of Actuarial methods and Assumptions Used in the Calculation of the 2014 Contribution Rate were based on ValuationAssumptions used in the December 31. 2012, actuarial ~aluation: note two year lag between valuation and rate setting.

This schedule is presented to illustrate the requiremetlt to show itlformation for 10 years. However, until a full 10-year trend iscompiled. itlformal ion is presented for those years for which information is available.

For more information, see Note 12-B.

3 of 3

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“age ~ Page 2

AUDITORS QUESTIONNAIRE

INSTRUCTIONS: If your review and testing of State, Local, and Federal Programs revealed any of the following statements to be true, then checkthe boy on the left, and attach the appropriate findings/comments.

PART A - FINDINGS

1. One or more school board members, administrators, certified school business officials, or other qualifying district employees failed to file economicinterest statements pursuant to the Illinois Government Ethics Act. [5 (LCS 420/4A-101]

2, One or more custodians of funds failed to comply with the bonding requirements pursuant to Sections 8-2, 10-20. t9 cr t9-6 of the School Code,

[105 ILCS 5/8-2; 10-20.19; t9-6]3, One or more contracts were esecuted or purchases made contrary to the provisions of Section 10-20.21 of the School Code. [105 tLCS 5/10-20.21]

4, One or more violations of the Public Funds Deposit Act or the Public Funds Investment Act were noted. [30 (LOS 225/1 et. seq. and 30 (LOS 235/1 et. seq.]

5, Restricted funds were commingled in the accounting records or used for other than the purpose for which they were restricted.6. One or more short-term loans or short-term debt instruments were esecuted in non-conformity with the applicable authorizing statute or without statutory Authority.

7. One or more long-term loans or long-term debt instruments were executed ‘n non-conformity with the applicable authorizing statute or without statutory Authority.

8. Corporate Personal Property Rep acement Tan monies were deposited and/or used without first satisfying the lien imposed pursuant to the StateRevenue Sharing Act. [30 (LOS 1 t5/12]

9. One or more interfold loans were made in non-conformity with the applicable authorizing statute or without statutory authorization.10. One or more interfold loans were outstanding beyond the term provided by statute.11. One or more permanent transfers were made n non-conformity with the applicable authorizing statute/regulation or without statutory/regulatory authorization.12, Substantial, or systematic misclassification of budgetary items such as, but not limited to. revenues, receipts, espenditures, disbursements or expenses

were observed.13. The Chart of Accounts used to define and control budget and accounting records does not conform to the minimum requirements imposed by

ISBE rules pursuant to Sections 2-3.27 and 2-3.28 of the School Code. [105 (LOS 5/2-3.27; 2-3.28]

14. At least one of the following forms was filed with ISBE late: The FY14 AFR (ISBE FORM 50-35), FY14 Annual Statement of Affairs (IS8E Form 50-37)and FY15 Budget (ISBE FORM 50-36). Explain in the comments box below.

(SBE rules pursuant to Sections 3-15.1, 10-17, and 17-1 of the School Code [105 (LOS 5/3-15.1; 5/10- t 7; 5/17-1]

PART B - FINANCIAL DIFFICULTIES/CERTIFICATION Criteria pursuant to Section 1A-8 of the School Code [105 ILCS 5/1A-81

15. The district has issued tax anticipation warrants or tax anticipation notes in anticipation of a second year’s tases when warrants or notes inanticipation of current year tases are stilt outstanding, as authorized by Sections 17-16 or 34-23 thru 34-27 of the School Code.[105 (LOS 5/17-16 or 34-23 thru 34-27]

16. The district has issued short-term debt against two future revenue sources, such as, but not limited to, las anticipation warrants and General State Aidcertificates or tas anticipation warrants and revenue anticipation notes.

17. The district has issued school or teacher orders for wages as permitted in Sections 8-16, 32-7.2 and 34-76 of the School Code or issued fundingbonds for this purpose pursuant to Section t9-8 of the School Code. [105 (LOS 5/8-6, 32-7.2, 34-76, and 19-8]

18. The district has for two consecutive years shown an escess of espenditures/other uses over revenues/other sources and beginning fund balanceson its annual financial report for the aggregate totals of the Educational, Operations & Maintenance, Transportation, and Working Cash Funds.

PART C - OTHER ISSUES

19. Student Activity Funds, Imprest Funds, or other funds maintained by the district were esciuded from the audit.20. Findings, ofher than those listed in Part A (above), were reported (e.g. student activity fund findings).21. Federal Stimulus Funds were not maintained and espended in accordance with the American Recovery and Reinvestment Act (ARRA) of 2009. If checked,

an esplanation must be provided.

X 22. Check this bos if the district is sub)ect to the Property Tas Extension Limitation Law. Effective Date: 1/1/1995 (Es: 00/00/0000)

X 23. If the type of Auditor Report designated on the cover page is other than an unqualified opinion and is due to reason(s) other than solely Cash Oasis Accounting,please check and esplain the reason(s) in the box below.

The Independent Auditors’ Report on Illinois School District Annuat Financial Report (Form ISBE 50-35) contains two opinions. The firstopinion is adverse because the financial statements are not prepared in conformity with accounting principles generally accepted in theUnited Slates of America. The second opinion is qualified because while the financial statements present fairly, in all material respects,the assets and liabilities arising from cash transactions and revenue received and expenditures disbursed, they are prepared using thecash basis of accounting using accounting practices prescribed by the Illinois State Board of Education which differ from accountingprinciples generally accepted in the United States of America.

Printed: 11/4/2015 155 APR

PART D - EXPLANATION OF ACCOUNTING PRACTICES FOR LATE MANDATED CATEGORICAL PAYMENTS(For School Districts whc report on an Accrual/Modified Accruat Accounting Basis only)

Schoot districts that report on the accrual/modified accruat basis of accounting mast identify where tate mandated categorical payments (Acct Codes 3100,3105,3110, 3500, and 3510)are recorded. Depending on the accounting procedure these amounts wilt be used to adjust the Direct Receipts/Revenues in calcilation 1 and 2 of the Financial Profile Score.In FY2O1 4, identify those late payments recorded as Intergovernmental Receivables, Other Receivables, or Deferred Revenue & Other Current Liabil ties or Direct Receipts/Revenue.Payments should only be listed once.

24. Enter the date that the district used to accrue mandated categorical payments Date:

25. For the listed mandated categorical (Revenue Code (3110, 3500, 3510, 3100, 3105) that were vouchered prior to June 30th, but not released until after year endas reported in ISBE FRIS system, enter the amounts that were accrued in the chart below.

~A~unttiame~Deferred Revenues (490)Mandated Categorical Payments (3110, 3500, 3510, 3100, 3105) 0

Direct Receipts/RevenueMandated Categorical Payments (3110, 3500, 3510, 3100, 3105 0

Total 0

Revenue Code (3110.Sp Ed Personnel, 3510-Sp Ed Transportation, 3500~RegularNocational Transportation, 3105-Sp Ed Funding for Children Requiring Services,3100.Sp Ed Private Facilities)

PART E - QUALIFICATIONS OF AUDITING FIRM* School District/Joint Agreement entities must verify the qualifications of the auditing firm by requesting the most current peer review report and the corresponding acceptance

letter from the approved peer review program for the current peer review.* A school district/joint agreement who engages with an auditing firm who is not licensed and qualified will be required to complete a new audit by a qualified auditing firm

at the school district’s/joint agreement’s espense.

Comments Applicable to the Auditor~s Questionnaire:

JOHN KASPEREK CO INCName of Audit Firm (print)

The undersigned affirms that this audit was conducted by a qualified auditing firm and in accordance with the applicable standards [23 IllinoisAdministrative Code PartAOO] and the scope of the audit conformed to the requirements of subsection (a) or (b) of 23 Illinois Administrative Code Part100 Section 110, as ap icjable.

Page 3 Page 3

AIBICI D IEI F IGI H J L IM

1 FINANCIAL PROFILE INFORMATION

3 Required to be comoleted for School Districts only.

5 A. Tax Rates (Enfer the tax rate- ex: 0150 for Si .50)-w7 Tax Year 2014 Equalized Assessed Valuation (EAV): 97,567,016

-wOperations &

Educational Transportation Combined Total Working Cash9 Maintenance10 Rate(s): 0.035000 + 0.005265 + 0.003322 = 0.043590 0.000000

11

13 B. Results of Operations *

Disbursements!Receipts/Revenues . Excess! (Deficiency) Fund Balance15 Expenditures16 13,563,497 16,169,057 (2,605,560) 6,942,19117 * The numbera shown are fhe sum of entries on Pages 7 & 8, lines 8, 17,20, and 81 for the Educational, Operations & Mainfenance18 Transportation and Working Cash Funds.

1~020 C. Short-Term Debt **

21 CPPRT Notes TAWs TANs TO/EMP. Orders GSA Certificates

-~ 0+ 0 + 0+ 0+ 0+

23 Other Total24 0 = 025 ** The numbers shown are the sum of entries on page 25.

28 D. Long-Term Debt.29 Check the applicable box for long-term debt allowance by type of district.

31 x a. 6.9% for elementary and high school districts, 6,732,12432 b. 13.8% for unit districts.

3334 Long-Term Debt Outstanding:

35

36 c. Long-Term Debt (Principal only) Acct37 Outstanding 511 29,650,003

38

40 E. Material Impact on Financial Position41 If applicable, check any of the following items that may have a material impact on the entitys financial position during future reporting periods.42 Attach sheets as needed explaining each item checked.4344 Pending Litigation

45 Material Decrease in EAV46 Material Increase/Decrease in Enrollment

47 Adverse Arbitration Ruling48 Passage of Referendum

49 Taxes Filed Under Protest

50 Decisions By Local Board of Review or Illinois Property Tax Appeal Board (PTAB)

51 Other Ongoing Concerns (Describe & Itemize)52

53 Comments:5455565758

6061


Page 4Page 4

AIBI C D IEI F IGI H jlj K jLj M Nj 0 I~1°

2 ESTIMATED FINANCIAL PROFILE SUMMARY3 (Go to the following website for reference to the Financial Profile)4 www.isbe.net/sfms/p/profile.htm567 District Name: CALUMET CITY SCHOOL DISTRICT #1558 District Code: 07-016-1550-029 County Name: COOK1011 1. Fund Balance to Revenue Ratio: Total Ratio Score 412 Total Sum of Fund Balance (P8, Cells C8t, 081, F81 & 1811 Funds 10,20,40,70 + (50 & 80 if negative) 6,942,191.00 0.512 Weight 0.3513 Total Sum of Direct Revenues (P7, Cell C8, D8, F8 & 18) Funds 10, 20, 40, & 70, 13,563,497.00 Value 1.4014 Less: Operating Debt Pledged to Othe- Funds (P8, cell C54 thru 074) Minus Funds 10 & 20 0.0015 (Excluding c:D57, C:D61, C:D65, C:DE9 and C:D73)

16 2. Expenditures to Revenue Ratio: Total Ratio Score 217 Total Sum of Direct Expenditures (P7, cel C17, D17, F17, 117) Funds 10,20 & 40 16,169,057.00 1.192 Adjustment 118 Total Sum of Direct Revenues (P7, Cell t~, D8, F8, & 18) Funds 10, 20,40 & 70, 13,563,497.00 Weight 0.3519 Less: Operating Debt Pledged to Othe- Funds (P8, Cell C54 thru D74) Minus Funds 10 & 20 0.0020 (Excluding C:D57, C:D61, C:D65, C:DE9 and c:D73) 2.144 Value 1.0521 Possible Adjustment:2223 3. Days Cash on Hand: Total Days Score 324 Total Sum of Cash & Investments (PS, Cell C4, 04, F4, 14 & C5, D5, F5 & IS) Funds 10, 2040 & 70 6,942,440.00 154.57 Weight 0.1025 Total Sum of Direct Expenditures (P7, ce I C17, 017, P17 & 117) Funds 10, 20,40 divided by 360 44,914.05 Value 0.302627 4. Percent of Short-Term Borrowing Maximum Remaining: Total Percent Score 428 Tax Anticipation Warrants Borrowed (P25 Cell F6-7 & P11) Funds 10,20 &40 0.00 100.00 Weight 0,1029 EAV x 85% x Combined Tax Rates (P3, Cell J7 and J10) (.85 x EAV) x Sum of Combined Tax Rates 3,615,004.29 Value 0.403031 5. Percent of Long-Term Debt Margin Remaining: Total Percent Score 132 Long-Term Debt Outstanding (P3, Cell H37) 29,650,003.00 (340.42) Weight 0.1033 Total Long-Term Debt Allowed (P3, Cell -31) 6,732,124.10 Value 0.103435 Total Profile Score: 3.25 *

3637 Estimated 2016 Financial Profile Designation: REVIEW3839 * Total Profile Score may change based on data provided on the Financial Profile40 Information, page 3 and by the timing of mandated categorical payments. Final score will be

.~.i. calculated by ISBE.


Page 5 BASIC FINANCIAL STATEMENTS PageS

STATEMENT OF ASSETS AND LIABILITIES ARISING FROM CASH TRANSACTIONSSTATEMENT OF POSITION AS OF JUNE 30, 2015

A al C D E F j C H j I J KT (10) (20) (30) (40) (50) (60) (70) (80) (90)

. MunicipalASSETS Acct. Educational Debt Services Transportation Retirement/Social Capital Projects Working Cash Tort Fire Pres:ntion &

2 Security

3 CURRENT ASSETS (100)4 Cash (Accounts iii through 115) ‘ 1645,267 1059,050 1504S22 307,933 755,169 3,529,1905 Investments 1206 Taxes Receivable 1357 lolerluod Receivables 140

8 Intergovernmental Accsuols Receivable 1509 Other Receivables 160

10 Inventory 17011 Prepaid Items 150

12 Other Current Assets (Describe & Itemize) iso13 TotulCurrentAsuets 1,646,267 1,059,050 1,504,522 307,933 755,169 0 3,929,190 0 0

~ CAPITAL ASSETS (200)

15 Works of Art & Historical Treasures 21016 Land 22517 Building & Building Impruvemevls 230113 Site Improvements & Infrastructure 24019 Capitalized Squipmeol 25020 Cvnulructioo iv Progress 26021 Amount Available in Debt Service Funds 34022 Amount tube Prsvided for Payment xv Long-Term Debt 35023 Total Capital Asnets

~ CURRENT LIABILITIES 1400)

25 loterfund Payables 41026 Intergovernmental Accounls Payable 42027 Other Payableu 430

28 Contracts Payable 44029 Loans Payable 460

30 Salaries & Benefits Payable 47031 Payroll Deducliuns & Withholdings 400 24932 Deferred Revenues & Other Current Liabilities 400

33 Due to Activity Fund Organizations 40334 Total Current Liabilities 249 0 0 0 0 0 0 0 0

~ LONG-TERM LIABILITIES (500)

36 Long-Term Debt Payable (General Obligation, Revenue. Other) 51137 Total Long-Term Liabilities

38 Reserved Fund Balance 71439 Unreserved FsndBalance 735 1,646,018 1,059,050 1,504,522 307,933 755,169 3,929,19040 Investment in General Ficed Assets41 Total Liabilities and Fund Balance 1,646,267 1,059,050 1,504,522 307,933 755,1 69 0 3,929,190 0 0

Printed: 11/4/2015 155 AFR

Page 6 BASIC FINANCIAL STATEMENTS Page 6

STATEMENT OF ASSETS AND LIABILITIES ARISING FROM CASH TRANSACTIONSSTATEMENT OF POSITION AS OF JUNE 30, 2015

A IBI L I M NI Account Groups

ASSETS Acct. Agency Fund General Fixed General Long-2 6 Assetn Term Debt

~ CURRENT ASSETS (100)4 Cash (Accounts ill through tt5( ‘ 64,2315 Iovnstrnents 120

6 Taxes Receivable 1307 Interlund Receivables 140

8 Intergovernmental Accouots Receivable iso

9 Other Receivables 16010 loventory 170Ii Prepaid Items tag12 Other Current Assets (Describe & ltemize( 10013 Total Current Assets 54,231

~ CAPITAL ASSETS (2001

15 Wurks xl Art & Historical Treasures 210 016 Land 220 219,06417 Buildiog & Building Improvements 230 15,294,59518 Site Improvements & Intrastructure 240 1,676,77419 Capitalized Equipment 250 2,199,77220 Construction in Progress 260 021 Amount Available in Debt Service Funds 340 1,504,52222 Amount lobe Provided br Payment on Long-Term DebI 350 28,145,46123 Total Capital Assets 19,390,205 29,650,003

~ CURRENT LIABILITIES (400>

25 Interlund Payables 41026 Intergovernmental Accounts Payable 42027 Other Payables 430

28 Contracts Payable 44029 Loans Payable 460

30 Salaries & Benelils Payable 47031 Payroll Deductions & Withholdings 46032 Deterred Revenues & Other Current Liabilihes 46033 Doe to Activity Fond Organizations 463 54,23134 Total Current Liabilities 54,231

3~ LONG-TERM LIABILITIES (500)36 Long-Term Debt Payable (Gennral Obligation, Revenue, Other) 511 29,650,00337 Total Long-Term Liabilities 29,650,003

38 Reserved Fund Balance 714

39 Unreserved Food Balance 73040 Investment in General Ficed Assets 19,390,20541 Total Liabilities and Fund Balance 54,231 19,390,205 29,650,003

Printed~ 11/4/2015 155 AFR

Page 7

(30>

Debt Services

Page 7

(70)

01,154,179

02,395,863

Working Cash

BASIC FINANCIAL STATEMENTSTATEMENT OF REVENUES RECEIVED/REVENUES, EXPENDITURES/DISBURSED/EXPENDITURES, OTHER

SOURCES (USES) AND CHANGES IN FUND BALANCEALL FUNDS - FOR THE YEAR ENDING JUNE 30, 2015

A IBI C D j F F G j H I J I K(10) (20) (40) (50) (60> (60) (90>

MunicipalAcct Operations & Fire Prevention &Description Educational Transportation Retirement] Social Capital Prolects Tort# Maintenance Safety2 Security

RECEIPTS/REVENUES

Local Sources 1000Flow-Through Receipts/Revenues from One District to 2000Another DistrictState Sources

Federal Sources

Total Direct Receipts/Revenues

Recejots/Revenues for “On Behalf’ Payments 2

Total Receipts/Revenues

DISBURSEMENTS/EXPENDITURES

Instruction

Support Services

Community ServicesPayments to Other Districts & Govermental Units

Debt Service

Total Direct Disbursements/Expenditures

Disbursements/Expenditures for On Behalf” Payments 2

Total Disbursements/ExpendituresExcess of Direct Receipts/Revenues Over (Unde) Direct

Disbursements/Expenditures

OTHER SOURCES/USES OF FUNDS

OTHER SOURCES OF FUNDS (7000)

PERMANENT TRANSFER FROM VARIOUS FUNDS

03000 5,771,8014000 1,770,458

10,680,4103998 2,114,060

12,794,470

1000 7,032,426

2000 4,535,443

3000 29,2104000 841,6775000 0

12,438,756

4180 2,114,060

14,552,816

3,262,94947,450

00

3,310,399

03,310,399

3,138,151 1,241,684 2,480,551 107,763 240,758 0 37,029 0 0

0 00 342,432 456,796 0 0 0 00 0 0 0 0 0 0

2,480,551 450,195 697,554 0 37,029 0 0

2,395,863 2,480,551 450,195 697,554 0 37,029 0 0

144,252419,902 306,309 0 0 0

0 2610 0 0 0 0

1,778,336 0 0 0 01,778,336 419,902 450,822 0 0 0

0 0 0 0 0 01,778,336 419,902 450,822 0 0 0

(1,758,346) (914,536) 702,215 30,293 246,732 0 37,029 0 0

34

5678

910

11121314151617

1819

20

212223242526272829

30

313233343536373839404142434445

Abolishment of the Working Cash Fund 12 7110

Abatement of the Working Cash Fund 12 7110Transfer of Working Caah Fund Interest 7120

Transfer Among Funds 7130 1,416,115

Transfer of Interest 7140

Transfer from Capital Project Fund to O&M Fund 7150Transfer of Eucess Fire Prevention & Safety Tan and Interest Proceeds 7160

to O&M FundTransfer to Escess Fire Prevention & Safety Bond and Interest Proceeds 7170

to Debt Service FundSALE OF BONDS (7200)

Principal on Bonds Sold 7210

Premium on Bonds Sold 7220

Accrued Interest on Bonds Sold 7230

Sale or Compensation for Fioed Assets u 7300Transfer to Debt Service to Pay Principal on Capital Leases 7400Transfer to Debt Service to Pay lntereat on Capital Leaaen 7500

Transfer to Debt Service to Pay Principal on Revenue Bonds 7600

Transfer to Debt Service Fund to Pay Interest on Re4enue Bonds 7700

Transfer to Capital Projects Fund 7800

ISBE Loan Proceeds 7900

Other Sources Not Classified Elsewhere 7990

Total Other Sources of Funds 0 1,416,11~

OTHER USES OF FUNDS (8000)

0000

0

0

0 0 0 0

Printed: 11/4/2015 155 APR

Page 8 BASIC FINANCIAL STATEMENT Page 8

STATEMENT OF REVENUES RECEIVED/REVENUES, EXPENDITURES/DISBURSED/EXPENDITURES, OTHERSOURCES (USES) AND CHANGES IN FUND BALANCEALL FUNDS - FOR THE YEAR ENDING JUNE 30, 2015

A BI C D I E F I G I H I I J K

jJ (10) (20) (30) (40) (50) (60) (70) (80) (90)

Description AccI Educational ~tons& Debt Services Transportation Retirement/Social Capital Projects Working Cash Tort Fire Prev:ntion &2 Securtty

46 PERMANENT TRANSFER TO VARIOUS OTHER FUNDS (8100)

47 Abolishment or Abatement ot the Working Cash Fund 12 8110 0

48 Transfer of Working Cash Fund Interest 12 8120 0

49 Transfer Among Funds 8130 1,416,115

513 Transfer of Interest 8140

51 Transfer from Capital Project Fund to O&M Fund 8150 0Transfer of Excess Fire Prevention & Safety Tax & Interest Proceeds to

52 O&MFund4 8160 0Transfer of Eacess Fire Prevention & Safety Bond and Imerest Proceeds

817053 to Debt Service Fund 054 Taaes Pledged to Pay Principal on Capital Leases 8410

55 Grants/Reimbursements Pledged to Pay Principal on Capital Leases 8420

56 Other Revenues Pledged to Pay Principal on Capital Leases 8430

57 Fund Balance Transfers Pledged to Pay Principal on Capital Leases 8440

58 Tases Pledged to Pay Interest on Capital Leases 8510

59 Grants/Reimbursements Pledgeo to Pay Interest on CapLal Leases 8520

60 Other Revenues Pledged to Pay Interest on Capital Leases 8530

61 Fund Balance Transfers Pledged to Pay Interest on Capital Leases 8540

62 Tases Pledged to Pay Principal on Revenue Bonds 8610

63 Grants/Reimbursements Pledged to Pay Principal on Resenue Bonds 8620

64 Other Revenues Pledged to Pay Principal on Revenue Bonds 8630

65 Fund Balance Transfers Pledged to Pay Principal on Revenue Bonds 8640

66 Taxes Pledged to Pay Interest on Revenue Bonds 8710

67 Grants/Reimbursements Pledged to Pay Interest on Revenue Bonds 8720

68 Other Revenues Pledged to Pay Interest on Revenue Bords 8730

69 Fund Balance Transfers Pledged to Pay Interest on Revenue Bonds 8740

70 Tases Transferred to Pay for Capital Projects 8810

71 Grants/Reimbursements Pledged to Pay for Capital Projects 8820

72 Other Revenues Pledged to Pay for Capital Projects 8830

73 Fund Balance Transfers Pledged to Pay for Capital ProjeDts 8840

74 Transfer to Debt Service Fund to Pay Principal on ISBE Loans 8910

75 Other Uses Not Classified Elsewhere 8990

76 Total Other Uses of Funds 1,416,115 0 0 0 0 0 0 0 077 TotalOtherSourcea/Usesof Funds (1,416,115) 1,416,115 0 0 0 0 0 0 0

Escess of Receipts/Revenues and Other Sources of Funds (Over/Underj

78 Enpenditures/Disbursements and Other Uses of Funds (3,1 74,461( 501 ~79 702,215 30,293 246,732 0 37,029 0 0

79 Fund Balances - July 1, 2014 4,820,479 557,471 802,307 277,640 508,437 3,892,161Other Changes in Fund Balances - Increases (Decreases)

80 (Describe & Itemize)81 FundBalances-June3O,2015 1,646,018 1,059,050 1,504,522 307,933 755,169 0 3,929,190 0 0

Printed: 11/4/2015 155 AFR

Page 9 STATEMENT OF REVENUES RECEIVED/REVENUES Page 9

FOR THE YEAR ENDING JUNE 30, 2015

_] A IBI C I D E I F G H I I K(10) (20) (30) (40) (50) (60) (70) (80) (90)

MunicipalDescription Acct Educational ~tbo11s8~ Debt Services Transportation Retirement! Capital Projects Working Cash Tort Fire Prev:ntion

Social Security

3 RECEIPTS/REVENUES FROM LOCAL SOURCES (1000)

4 AD VALOREM TAXES LEVIED BY LOCAL EDUCATION AGENCY

5 Designated Purposes Levies (1110-1120)~ 2,775,883 294,064 2,468,921 103,415 104,514

6 Leasing Purposes Levy8 11307 Special Education Purposes Levy i 1408 FICA/Medicare Only Purposes Levies 1150 104,5149 Area Vocational Construction Purposes Levy 116010 Summer School Purposes Levy 117011 Other Tan Lames (Describe & Itemize) 119012 TotalAdValoremTaxesLeviedByoistrict 2,775,883 294,064 2,468,921 103,415 209,028 0 0 0 0

13 PAYMENTS IN LIEU OF TAXES14 Mobile Home Privilege Tan 121015 Payments trom Local Housing Authorities 1220

16 Corporate Personal Property Replacement Tases 1230 142,419 45,000 24,66417 Other Payments in Lieu ot Tases (Describe & Itemize) 129018 Total Payments in Lieu of Taxes 142,419 45,000 0 0 24,664 0 0 0 0

19 TUITION20 Regular - Tuition from Pupils or Parents (In State) 131121 Regular - Tuition from Other Districts (In State) 131222 Regular - Tuition trom Other Sources (In State) 131323 Regular - Tuition from Other Sources (Out of State) 131424 Summer Sch - Tuition from Pupils or Parents (In State) 132125 Summer Sch - Tuition from Other Districts (In State) 132226 Summer Sch - Tuition from Other Sources (In State) 132327 Summer Sch - Tuition from Other Sources (Out of State) 132428 CTE - Tuition from Pupils or Parents (In State) 133129 CTE - Tuition from Other Districts )ln State) 133230 CTE - Tuition from Other Sources (In State) 133331 CTE - Tuition from Other Sources (Out of State) 133432 Special Ed - Tuition from Pupils or Parents (In State) 134133 Special Ed - Tuition from Other Districts (In State) 134234 Special Ed - Tuition from Other Sources (In State) 134335 Special Ed - Tuition from Other Sources (Out of State) 134436 Adult - Tuition from Pupils or Parents (In State) 135137 Adult - Tuition from Other Districts (In State) 135238 Adult - Tuition from Other Sources (In State) 135339 Adult - Tuition from Other Sources (Out of State) 135440 Total Tuition 0

41 TRANSPORTATION FEES42 Regular -Transp Fees from Pupils or Parents (In State) 1411 82443 Regular - Transp Fees from Other D~stricts (In State) 141244 Regular - Transp Feas from Other Sources (In Stale) 141345 Regular - Transp Fees from Co-curricular Activities )In State) 141546 Regular Transp Fees from Other Sources (Out of State) 141647 Summer Sch - Tranap. Fees from Pupils or Parents (In State) 142148 Summer Sch - Transp. Fees from Other Districts (In State) 142249 Summer Sch - Transp. Fees from Other Sources (In State) 142350 Summer Sch - Transp. Fees from Other Sources )Out of State) 142451 CTE - Transp Fees from Pupils or Parents (In State) 143152 CTE - Tranap Fees from Other Districts (In State) 1432

Printed: 11/4/2015 155 AFR



_J A 181 C I D 6 I F G I H I J I K(10) (20) (30) (40) (50) (60) (70) (80) (90)

MunicipalI Description Acct Educational Operations & Debt Services Transportation Retirement/ Capital Projects Working Cash Tort Fire Prevention8 Maintenance & Safety

Social Security53 CTE - Transp Fees from Other Sources (In State) 143354 CTE - Transp Fees from Other Sources (Out ot State( 143455 Special Ed Transp Fees from Pupils or Parents (In State) 1441

56 Special Ed - Transp Fees from Other Districts (In State) 144257 Special Ed - Transp Fees from Other Sources (In State~ 144358 Special Ed - Transp Fees from Other Sources (Out of Slate) 144459 Adult - Transp Fees from Pupils or Parents (In State) 145160 Adult - Transp Fees from Other Districts (In State) 145261 Adult - Transp Fees from Other Sources (In State) 145362 Adult - Transp Fees from Other Sources (Out of State) 146463 Total Transportation Fees 824

64 EARNINGS ON INVESTMENTS65 Interest on Investments 1510 45301 3839 11,630 3,524 7,066 37,02966 Gain or Loss on Sate of Investments 152067 Total Earnings on Investments 45,301 3,839 11,630 3,524 7,066 0 37,029 0 0

68 FOOD SERVICE69 Sales to Pupils - Lunch 1611 17,14570 Sales to Pupils - Ereakfasl 161271 Sales to Pupils- Ala Carte 161372 Sales to Pupils - Other (Describe & Itemize) 161473 Sales to Adults 162074 Other Food Service (Describe & Itemize) 169075 Total Food Service 17,145

76 DISTRICT/SCHOOL ACTIVITY INCOME77 Admissions - Athletic 171178 Admissions - Other (Describe & Itemize) 171979 Fees 172080 Book Store Sales 173081 Other District/School Activity Revenue (Describe & Item ze( 179082 Total District/School Activity Income 0 0

83 TEXTBOOK INCOME84 Rentals- Regular Textbooks 1811 5,52485 Rentals - Summer School Textbooks 181286 Rentals - Adult/Continuing Education Textbooks 181387 Rentals~ Other (Describe & Itemize) 181988 Sales - Regular Textbooks 182189 Sales - Summer School Textbooks 182290 Sales - Adult/Continuing Education Texlbooks 182391 Sales - Other (Describe & Itemize) 182992 Other (Describe & Itemize) 189093 Total Textbook Income 5,524

94 OTHER REVENUE FROM LOCAL SOURCES95 Rentals 1910 178,70196 Contributions and Donations from Private Sources 192097 Impact Fees from Municipal or County Governments 193098 Services Provided Other Districts 194099 Refund of Prior Years’ Expenditures 1950 98,848100 Payments of Surplus Moneys from TIP Districts 1960101 Drivers’ Education Fees 1970102 Proceeds from Vendors’ Contracts 1980103 School Facility Occupation Tax Proceeds 1983

Printed: 11/4/2015 155 AFR

Page Ii STATEMENT OF REVENUES RECEIVED/REVENUES Page 11


A 181 C D E F C H I J I K

(10) (20) (30) (40) (50) (60) (70) (80) (90)

MunicipalAcct Operations & - Fire PreventionDescription Educational Debt Services Transportation Retirementl Capital Projects Working Cash TortMaintenance & Safety

Social SecurityPayment from Other Districts i~giSale of Vocational Projects 1992Other Local Fees (Describe & itemize) 1993 32044Other Local Revenues (Describe & Itemize) 1 999 20987 720,080Total Other Revenue from Local Sources 151,879 898,781 0 0 0 0 0 0 0Total Receipts/Revenuesfrom Local Sources 1000 3,138,151 1,241,684 2,480,551 107,763 240,758 0 37,029 0 0

FLOW-THROUGH RECEIPTS/REVENUES FROMONE DISTRICT TO ANOTHER DISTRICT (2000)

Flow-through Revenue from State Sources 2100Flow-through Revenue from Federal Sources 2200Other Flow-Through (Describe & itemize) 2300Total Row-Through Receipts/Revenues from One District to Another 2000District 0 0 0 0

RECEIPTS/REVENUES FROM STATE SOURCES (3000)

UNRESTRICTED GRANTS-IN-AIDGeneral State Aid-Sec. 18-8,05 3001 4,898,885 1,154,179 150,640 456,796General State Aid - Hold Harmless/Supplemental 3002Reorganization incentives (Accounts 3005-3021) 3005Other Unrestricted Grants-in-Aid from State Sources 3099

(Describe & Itemize)Total Unreslricted Grants-In-Aid 4,898,885 1,154,179 0 150,640 456,796 0 0 0

RESTRICTED GRANTS-IN-AID

SPECIAL EDUCATION

Special Education - Private Facility Tuition 3100 3,396Special Education - Funding for Children Requiring SpED Services 3105 132,657Special Education - Personnel 3110 170,066Special Education - Orphanage - Individual 3120 73,808Special Education - Orphanage Summer individual 3130Special Education - Summer School 3145 12,043Special Education - Other (Describe & itemize) 3199Total Special Education 391,970 0 0

CAREER AND TECHNICAL EDUCATION (CTE)CTE - Technical Education - Tech Prep 3200CTE - Secondary Program improvement (CTEI( 3220 1,021CTE - WECEP 3225CTE - Agriculture Education 3236CTE - Instructor Practicum 3240CTE - Student Organizations 3270CTE - Other (Describe & itemize) 3299Total Career and Technical Education 1,021 0 0

BILINGUAL EDUCATIONBilingual Ed - Downstate - TPI and TBE 3305 26,309Bilingual Education Downstate - Transitional Bilingual Eoucat ion 3310Total Bilingual Ed 26,309 0State Free Lunch & Breakfast 3360 8,419School Breakfast Initiative 3365Driver Education 3370Adull Ed (from 1CCB( 3410Adult Ed - Other (Describe & Itemize) 3499

Printed: 11/4/2015 155 AFR



A 181 C D I E F G I H I J I K

1 (10) (20) (30) (40) (50) (60) (70) (80) (90)

Acct o erations & Municipal F P tDescription Educational Maintenance Debt Services Transportation Retirement? Capital Projects Working Cash Tort ire

Social Security150 TRANSPORTATION151 Transportation - Regular and Vocational 3500 32,88915 Transportation - Special Education 3510 158,90315 Transportation - Other (Describe & Itemize) 3599154 TotalTransportation 0 0 191,792 0155 Learning Improvement - Change Grants 361015 Scientific Literacy 3660157 Truant Alternative/Optional Education 36951 Early Childhood - Block Grant 3705 320,4071 Reading Improvement Block Grant 37151 Reading Improvement Block Grant - Reading Recovery 37201 Continued Reading Improvement Block Grant 3725I Continued Reading Improvement Block Grant (2% Set Aside) 37261 Chicago General Education Block Grant 3766164 Chicago Educational Services Block Granl 37671 School Safety & Educational Improvement Block Grant 37751 Technology - Technology for Success 37801 State Charter Schools 38151 Eslended Learning Opportunities Summer Bridges 38251 Infrastructure Improvements - Planning/Construction 3920170 School Infrastructure - Maintenance Projects 3925171 Other Restricted Revenue from State Sources (Describe & Itemize) 3999 124,790172 Total Restricted Grants-In-Aid 872,916 0 0 191,792 0 0 0 0 0173 Total Receiptsfroni State Sources 3000 5,771,801 1,154,179 0 342,432 456,796 0 0 0 0

174 RECEIPTS/REVENUES FROM FEDERAL SOURCES (4000)— UNRESTRICTED GRANTS-IN-AID RECEIVED DIRECTLY PROM FEDERAL GOVT175176 Federal Impact Aid 4001

Dlher Unrestricted Grants-In-Aid Received Directly from the Fed Govt 4009177 (Describe & Itemize)

Total Unrestricted Grants-tn-Aid Received Directly178 from the Federal Govt 0 0 0 0 0 0 0 0 0

179 RESTRICTED GRANTS-IN-AID RECEIVED DIRECTLY FROM FEDERAL GOVT180 Head Start 4045181 Construction (Impacl Aid) 4050182 MAGNET 4060— Other Restricted Grants-In-Aid Received Directly from tLe Federal Govt 4090183 (Describe & Ilemize)

Total Restricted Grants-tn-Aid Received Directly from Federal Govt184 0 0 0 0 0 0— RESTRICTED GRANTS-IN-AID RECEIVED FROM FEDERAL GOVT THRU185 THE STATE

186 TITLE VI187 Title VI - Innovalion and Flesibilily Formula 4100188 Title VI - District Projects 4105189 Title VI - Rural Education Iniliahve (REI) 4107190 Tille V - Other (Describe & Ilemize) 4199191 Total Title V 0 0 0 0

192 FOOD SERVICE193 Breakfast Start-Up Espansion 4200194 National School Lunch Program 4210 422,925195 Special Milk Program 4215 3,199

Printed: 11/4/2015 155 AFR



A IBI C D E I F G H I J I K

jJ (10) (20) (30) (40) (50) (60) (70) (80) (90)

Acct o er tions & Municipal F PDescription Educational P a Debt Services Transportation Retirementl Capital Projects Working Cash Tort ire reven ionMaintenance & Safety

Social SecuritySchool Breaktast Program 4220 223,025Summer Food Service Program 4225Child Adult Care Food Program 4226Fresh Fruits & Vegetables 4240Food Service - Other (Describe & Itemize) 4299Total Food Service 649,149 0

TITLE ITitle I - Low Income 4300 688,719Title I - Low Income - Neglected, Private 4305Title I Comprehensive School Retorm 4332Title I - Reading First 4334Title I - Even Start 4335Title I - Reading First SEA Funds 4337Title I - Migrant Education 4340Title I - Other (Describe & Itemize) 4399 330Total Title I 689,049 0 0 0

TITLE IVTitle IV Sate & Drug Free Schools - Formula 4400Title IV - 21st Century Comm Learning Centers 4421Title IV - Other (Describe & Itemize) 4499Total Title IV 0 0 0 0

FEDERAL - SPECIAL EDUCATIONFed - Spec Education Preschool Flow-Through 4600 19,013Fed - Spec Education - Preschool Discretionary 4605Fed - Spec Education - IDEA - Flow Through 4620 219,555Fed - Spec Education - IDEA - Room & Board 4625Fed - Spec Education - IDEA - Discretionary 4630Fed - Spec Education - IDEA - Other (Describe & Itemize) 4699Total Federal - Special Education 238,568 0 0 0

GTE - PERKINSCTE - Perkins - Title IIIE - Tech Prep 4770CTE - Other (Describe & Itemize) 4799Total CTE - Perkins 0 0Federal - Adult Education 4810ARRA - General State Aid - Education Stabilization 4850ARRA - Title I - Low Income 4851ARRA - Title I - Neglected, Private 4852ARRA - Title I - Delinquent, Private 4853ARRA - Title I - School Improvement (Part A) 4854ARRA -Title I - School Improvemenl (Section 1003g( 4855ARRA - IDEA - Part B - Preschool 4856ARRA - IDEA - Part B - Flow-Through 4857ARRA - Title lID - Technology-Formula 4860ARRA - Title lID - Technology-Competitive 4861ARRA - McKinney - Vento Homeless Education 4862ARRA - Child Nutrition Equipment Assistance 4863Impact Aid Formula Grants 4864Impact Aid Competitive Grants 4865Oualitied Zone Academy Bond Tas Credits 4866Oualitied School Construction Bond Credits 4867Build America Bond Tas Credits 4868

Printed: 11/4/2015 155 AFR

Page 14 STATEMENT OF REVENUES RECEIVED!REVENUES Page 14


A IBI C D E I F G I H I J I K

(10) (20) (30) (40) (50) (60) (70) (80) (90)MunicipalAcct Operations & Fire PreventionDescription Educational Debt Services Transportation Retirement! Capital Projects Working Cash Tort

Maintenance & SafetySocial Security

7 Build America Bond Interest Reimbursement 4869ARRA - General State Aid - Other Govt Services Stabilization 4870Other ARRA Funds - II 4871Other ARRA Funds- III 4872Other ARRA Funds - IV 4873Other ARRA Funds - V 4874ARRA - Early Childhood 4875Other ARRA Funds VII 4876Other ARRA Funds VIII 4877Other ARRA Funds IX 4878

7 Other ARRA Funds X 4879Other ARRA Funds Ed Job Fund Program 4880Total Stimulus Programs 0 0 0 0 0 0 0 0Race to the Top Program 4901

61 Race to the Top - Preschool Expansion Grant 49026 Advanced Placement Fee/International Baccalaureate 4904

Title III - Immigrant Education Program (IEP) 4905Title III - Language Inst Program - Limited Eng (LIPLEP 4909Learn & Serve America 4910McKinney Education for Homeless Children 4920Title II - Eisenhower Professional Development Formula 4930Title II - Teacher Quality 4932 74,094

269 Federal Charter Schools 4960270 Medicaid Matching Funds - Administrative Outreach 4991 78,910271 Medicaid Matching Funds - Fee-for-Service Program 4992 40,688272 Other Restricted Revenue from Federal Sources (Descrbe & Ifemize) 4999— Total Restricted Grants-In-Aid Received from the Federal Govt273 Thru the State 1770,4~8 0 0 0 0 0 0 0

274 Total Receipts/Revenues from Federal Sources 4000 1,770,458 0 0 0 0 0 0 0 0

275 Total Direct Receipts/Revenues 10,680,410 2,395,863 2,480,551 450,195 697,554 0 37,029 0 0

Printed: 11/4/2015 155 APR

Page 15 STATEMENT OF EXPENDITURES DISBURSED/EXPENDITURES, BUDGET TO ACTUAL Page 15


A IBI C D I E I F G H I J K I L(100) (200) (300) (400) (500) (600) (700) (800) (900)

Description Funct Salaries Employee Purchas:d Supplies& Capital Outlay Other Objects Non-Capitalized Termination Total Budget

10- EDUCATIONAL FUND (ED)

4 INSTRUCTION (ED)5 RegularPrograms 1100 3,054,033 1,145,908 50,299 368,659 52,51S 0 166,227 4,837,644 4,879,6586 Tuition Payment to Charter Schools 1115 07 Pre-K Programs 1125 184,244 47,346 6,034 3336 240,960 249,0258 Special Education Programs (Functions 1200-1220) 1200 948,663 405,731 42,766 11,024 2,398 51,235 3,257 1,465,074 1,680,5759 Special Education Programs Pre-K 1225 010 Remedial and Supplemental Programs K-12 1250 011 Remedial and Supplemental Programs Pre-K 1275 012 Adult/Continuing Education Programs 1300 013 CTE Programs 1400 014 Interscholastic Programs 1500 59,928 6,693 1,570 2,758 200 71,149 80,29215 Summer School Programs 1600 016 Gifted Programs 1650 017 Driver’s Education Programs 1700 018 Bilingual Programs 1800 263,177 133,479 885 4,757 402,298 373,05819 Truant Alternative & Optional Programs I goo 020 Pre-K Programs- Private Tuition igio 021 Regular K-i 2 Programs - Private Tuition 1911 022 Special Education Programs K-12 - Private Tuition 1g12 15,301 15,301 22,00023 Special Education Programs Pre-K - Tuition 1913 024 Remedial/Supplemental Programs K-i2 - Private Tuition 1914 025 Remedial/Supplemental Programs Pre-K - Private Tuition 1915 026 Adult/Continuing Education Programs - Private Tuition 1916 027 CTE Programs - Private Tuition 1917 028 Interscholastic Programs - Private Tuition 1918 029 Summer School Programs - Private Tuition 1919 030 Gitted Programs - Private Tuition 1920 031 Bilingual Programs - Private Tuition 1921 032 Truants Alternative/Optional Ed Progms - Private Tuition 1922 033 Total Instruction’0 1000 4,510,045 1,739,157 101,554 390,534 54,916 66,736 169,484 0 7,032,426 7,284,608

34 SUPPORT SERVICES (ED)35 SUPPORT SERVICES - PUPILS36 Attendance & Social Work Services 2110 423,385 131,782 7,335 1,649 564,151 559,62337 Guidance Services 2120 1,022 1,022 1,02138 HealthServices 2130 89,770 47,072 829 1,626 139,297 140,63039 Psychological Services 2140 56,132 12,142 424 759 69,457 94,42440 Speech Pathology & Audiology Services 2150 140,500 41,563 704 182,767 187,54041 Other Support Services - Pupils (Describe & Itemize) 2190 25,029 1,678 26,707 28,55042 Total Support Services - Pupils 2100 734,816 234,237 9,292 5,056 0 0 0 0 983,401 1,011,788

43 SUPPORT SERVICES - INSTRUCTIONAL STAFF44 Improvement of Instruction Services 2210 211,119 38,632 31,927 5,911 1,199 1,847 290,635 272,76445 EducationalMediaServices 2220 132,190 30,146 168,124 41,290 14,176 210 386.136 345,80946 Assessment&Testing 2230 64,397 1,145 65,542 66,01547 Total Support Services-Instructional Staff 2200 343,309 68,778 264,448 48,346 15,375 2,057 0 0 742,313 684,588

48 SUPPORT SERVICES - GENERAL ADMINISTRATION49 BoardotEducationServices 2310 1,260 4,565 66,300 3,523 0 8.413 84,061 129,21050 ExecutiveAdministrationServices 2320 311,571 64,980 5,342 1,411 1,199 4,393 388,896 431,71951 Special Area Administration Services 2330 3,702 51 725 4,478 10,000

2360-52 Tort Immunity Services 2370 053 Total Support Services - General Administration 2300 316,533 69,545 71,642 4,985 1,199 13,531 0 0 477,435 570,929

Printed: 11/4/2015 155 APR



A IBI C I D E F C I H I I J I K I L(100) (200) (300) (400) (500) (600) (700) (800) (900)

Fund Employee Purchased Supplies & Non-Capitalized TerminationDescription Salaries Capital Outlay Other Oblects Total BudgetBenefits Services Materials Equipment Benefits

54 SUPPORT SERVICES - SCHOOL ADMINISTRATION55 Office of the Principal Sereices 2410 587,020 215,134 10,399 30,649 5,995 990 850,187 864,08156 Other Support Services - School Admin (Describe & Itenize) 2490 057 Total Support Services - School Administration 2400 587,020 215,134 10,399 30,649 5995 990 0 0 850,187 864,081

58 SUPPORT SERVICES - BUSINESS59 Direction of Business Support Services 25t0 65,079 15,156 10 761 81,006 84,37660 Fiscal Services 2520 138,172 47,999 92,108 2,437 0 130 280,846 299,89361 Operation & Msnfenance of Plant Services 2640 2,097 1,638 3,73562 Pupil Transportation Services 2550 0 10563 FoodServices 2560 147,616 22,462 540,258 22,579 732,915 761,51964 Internal Services 2570 065 Total Support Services - Business 2500 352,964 87,255 632,376 25,777 0 130 0 0 1,098,502 1,145,893

66 SUPPORT SERVICES - CENTRAL67 Direction of Central Support Services 2610 0

68 Planning, Research, Development, & Evaluation Services 2620 069 Information Services 2630 070 Staff Services 2640 071 Data Processing Services 2660 072 Total Support Services - Central 2600 0 0 0 0 0 0 0 0 0 0

73 Other Support Services (Describe & Itemize) 2900 382,962 643 383,605 389,88574 TotalSupportServices 2000 2,334,642 674,949 1,371,119 115,456 22,569 16,708 0 0 4,535,443 4,667,164

75 COMMUNITYSERVICES(ED) 3000 17,983 6,717 494 4,016 29,210 16,913

76 PAYMENTS TO OTHER DISTRICTS & GOVT UNITS (ED)77 PAYMENTS TO OTHER GOVT UNITS (IN-STATE)78 Payments for Regular Programs 4110 079 Payments for Special Education Programs 4120 080 Payments for Adult/Continuing Education Programs 4130 081 Payments forCTE Programs 4140 082 Payments for Community College Programs 4170 0

Other Payments to In-State Govt. Units (Describe & Itemize) 419083 9,775 9,775 13,550

Total Payments to Dist & Other Govt Units84 (In-State) 4100 9,775 0 9,775 13,55085 Payments for Regular Programs - Tuition 4210 086 Payments for Special Education Programs - Tuition 4220 831 902 831 902 1,015,503

87 Payments for Adult/Continuing Education Programs - Tiotion 4230 088 Payments for CTE Programs - Tuition 4240 089 Payments for Community College Programs - Tuition 4270 090 Payments for Other Programs - Tuition 4280 091 Other Payments to In-State Govt Units 4290 0

Total Payments to Other District & Govt Units -Tuiticn92 (InState) 4200 831,902 831,902 1,015,50393 Payments for Regular Programs - Transfers 4310 094 Payments for Special Education Programs - Transfers 4320 0

Payments for Adult/Continuing Ed Programs - Transfers 4330 0

Printed: 11/4/2015 165 AFR



A DI C I D I E I F I G H I I K I L(100) (200) (300) (400) (500) (600) (700) (800) (900)

Description Funct Salaries Employee Purchased ~ Capital Outlay Other Objects Non-Capitalized Termination Total Budget

96 Payments for CTE Programs - Transfers 4340 097 Payments tor Community College Program - Transfers 4370 0

98 Payments tor Other Programs - Transfers 4380 099 Other Payments to tn-State Govt Units - Transfera 4390 0

Total Payments to Other District & Govt Units - 4300100 Transfers (In-State) 0 0 0 0101 Payments to Other Dist & Govt Units (Out-of-State) 4400 0102 Total Payments to Other District & Govt Units 4000 9,775 831,902 841,677 1029,0~3

103 DEBT SERVICES (ED)DEBT SERVICES - INTEREST ON SHORT-TERM DEBT

Tax Anticipation Warrants 5110 0Tax Anticipation Notes 5120 0

7 Corporate Personal Prop. Rept. Tao Anticipation Notes 5130 0State Aid Anticipation Certificates 5140 0Other Interest on Short-Term Debt 5150 0Total Interest on Short-Term Debt 5100 0 0 0

111 Debt Services - Interest on Long-Term Debt 5200 0112 Total Debt Services 5000 0 0 0

113 PROVISIONS FOR CONTINGENCIES (ED) 6000114 Total Direct Disbursements/Expenditures 6862,670 2,420,823 1,482,942 510,006 77,485 915,346 169,484 0 12,438,756 12,997,738

Excess (Deficiency) of Receipts/Revenues Over115 Disbursements/Expenditures (1,758,346)

117 20- OPERATIONS & MAINTENANCE FUND (O&M)118 SUPPORT SERVICES (O&M)119 SUPPORT SERVICES - PUPILS120 Other Support Services - Pupils (Describe & Itemize) 2190 0

121 SUPPORT SERVICES - BUSINESS122 Direction of Business Support Services 2510 0

123 Facilities Acquisition & Construction Services 2530 18,664 18,664 25,000124 Operation & Maintenance of Plant Services 2540 648,171 190,230 710,351 322,269 1,371,671 1,593 3,244,285 2,180,069

125 Pupil Transportation Services 2550 0

126 Food Services 2560 0127 TotalSupportServices-Business 2500 648,171 190,230 729,015 322,269 1,371,671 0 1,593 0 3,262,949 2,205,06912 Other Support Services (Describe & Itemize) 2900 012 TotalSupportServices 2000 648,171 190,230 729,015 322,269 1,371,671 0 1,593 0 3,262,949 2,205,069

13 COMMUNITY SERVICES (O&M) 3000 47,450 47,450

13 PAYMENTS TO OTHER DIST & GOVT UNITS (O&M)13 PAYMENTS TO OTHER GOVT UNITS (IN-STATE)13 Payments for Special Education Programs 4120 013 PaymentstorCTs Programs 4140 0

Other Payments to In-State Govt. Units 4190135 (Describe & Itemize) 0136 Total Payments to Other Govt. Units (In-State) 4100 0 0 0 0137 Payments to Other Govt. Units (Out of State) 4400 0138 Total Payments to Other Dist & Govt Units 4000 0 0 0 0

139 DEBT SERVICES (O&M) 5000140 DEBT SERVICES - INTEREST ON SHORT-TERM DEBT141 Tax Anticipation Warrants 5110 0142 Tax Anticipation Notes 5120 0

Printed: 11/4/2015 155 APR



A IBI C I D E F G I H I I I K L(100) (200) (300) (400) (500) (600) (700) (800) (900)

_j Description Funct Salaries Employee Purchased Supplies & Capital Outlay Other Objects Non-Capitalized Termination Total Budget2 4 Benefits Services Materials Equipment Benefits143 Corporate Personal Prop. Repi. Tax Anticipation Notes 5130 0144 State Aid Antiopation Certiticates 5140 0145 Other Interest on Short-Term Debt (Describe & Itemize( 5150 0146 Total Debt Service - Interest on Short-Term Debt 5100 0 0 0147 DEBT SERVICE - INTERST ON LONG-TERM DEBT 5200 0148 Total Debt Services sooo 0 0 0149 PROVISIONS FOR CONTINGENCIES (O&M) 6000150 Total Direct Disbursements/Expenditures 648,171 190,230 776465 322,269 1371,671 0 1~93 0 3,310,399 2,205,069151 Excess (Deficiency) of Receipts/Revenues/Over (914,536)T5~

153 30- DEBT SERVICES (DS)154 PAYMENTS TO OTHER 01ST & GOVT UNITS (OS) 4000 0

155 DEBT SERVICES (OS) 5000156 DEBT SERVICES - INTEREST ON SHORT-TERM DEBT157 Tax Anticipation Warrants 5110 0158 Tax Anticipation Notes 5120 0159 Corporate Personal Prop. Repl. Tax Anticipation Notes 5130 0160 State Aid Anticipation Certiticatex 5140 0161 Other Interest on Short-Term Debt (Describe & Itemize) 5150 0

162 Total Debt Services - Interest On Short-Term Debt 5100 0 0 0163 DEBT SERVICES - INTEREST ON LONG-TERM DEBT 5200 994481 994,481 994,478

DEBT SERVICES - PAYMENTS OF PRINCIPAL ON LONG- 5300

164 TERM DEBT (Lease/Purchase Principal Retired) 11 775,000 775,000 755,00016 DEBT SERVICES - OTHER (Describe & Itemize) 5400 8,855 8,855 9,50016 Total Debt Services 5000 o 1,778,336 1,778,336 1758,978

167 PROVISION FOR CONTINGENCIES (DS) 600016 Total Disbursements/ Expenditures 0 1,778,336 1,778,336 1,758,978

Excess (Deficiency) of Receipts/Revenues Over16 Disbursements/Expenditures 702,215

17 40- TRANSPORTATION FUND (TR)172 SUPPORT SERVICES (TR)173 SUPPORT SERVICES - PUPILS174 Other Support Services - Pupils (Describe & Itemize) 2190 0175 SUPPORT SERVICES - BUSINESS176 Pupil Transportation Services 2550 10,886 1,988 407,028 419,902 530,390177 Other Support Services (Describe & Itemize) 2900 0178 Total Support Services 2000 10,886 1,988 407,028 0 0 0 0 0 419,902 530,390

179 COMMUNITY SERVICES (TR) 3000 0

180 PAYMENTS TO OTHER DIST & GOVT UNITS (TR)18 PAYMENTS TO OTHER GOVT UNITS (IN-STATE)18 Payments for Regular Programs 4110 018 Payments for Special Education Programs 4120 018 Payments for Adult/Continuing Education Programs 4130 018 Payments br CTE Programs 4140 018 Payments for Community College Programs 4170 0

Other Payments to tn-State Govt. Units 4190187 (Describe & Itemize) 0188 Total Payments to Other Govt. Units (In-State) 4100 0 0 0 0

Printed: 11/4/201S 155 APR



_J A IBI C I D I E F G H I J K I L(100) (200) (300) (400) (500) (600) (700) (800) (900)

Description Funct Salaries Employee Purchased ~ Capital Outlay Other Objects Non-Capitalized Termination Total Budget

PAYMENTS TO OTHER GOVT UNITS (OUT-OF-STATE) 6400 0Total Payments to Other Dist & Govt Units 4000 0 0 0 0

DEBT SERVICES (TR)DEBT SERVICE - INTEREST ON SHORT-TERM DEBT

Tax Anticipation Warrants 5110 0Tax Anticipation Notes 5120 0Corporate Personal Prop. Rept. Tax Anticipation Notes 5130 0State Aid Anticipation Certificates 5140 0Other Interest on Short-Term Debt (Describe & Itemize) 5150 0

Total Debt Services - Interest On Short-Term Debt 5100 0 0 0

DEBT SERVICES - INTEREST ON LONG-TERM DEBT 5200 0DEBT SERVICE - PAYMENTS OF PRINCIPAL ON LONG- 5300

TERM DEBT (Lease/Purchase Principal Retired) 0

DEBT SERVICES - OTHER (Describe & Itemize) 5400 0Total Debt Services 0 0 0

PROVISION FOR CONTINGENCIES (TR) 6000Total Disbursements! Expenditures 10,886 1,988 407,028 0 0 0 0 0 419,902 530,390Excess (Deficiency) of Receipts/Revenues OverDisbursements/Expenditures 30,293

50- MUNICIPAL RETIREMENT/SOCIAL SECURITYFUND (MR!SS)

INSTRUCTION (MR/SS)RegularPrograms 1100 44,343 44,343 52,001Pre-K Programs 1125 15,411 15,411 16,506Special Education Programs (Functions 1200-1220) 1200 59,666 59,666 79,993Special Education Programs - Pre-K 1225 0Remedial and Supplemental Programs - K-12 1250 0Remedial and Supplemental Programs - Pre-K 1275 0Adult/Continuing Education Programs 1300 0CTE Programs 1400 0Interscholastic Programs 1500 1,099 1,099 1,307Summer School Programs 1600 0Gifted Programs 1650 0Driver’s Education Programs 1700 0Bilingual Programs 1800 23,733 23,733 14,881Truants’ Alternative & Optional Programs 1900 0Total Instruction 1000 144,252 144,252 164,688

SUPPORT SERVICES (MR!SS) 2000SUPPORT SERVICES - PUPILS

Attendance & Social Work Services 2110 40,804 40,804 46,672Guidance Services 2120 0Health Services 2130 11,350 11,350 19,764Psychological Services 2140 814 814 1,616Speech Pathology & Audiology Services 2150 2,038 2,038 2,547Other Support Services - Pupils (Describe & Itemize) 2190 1,903 1,903 2,126Total Support Services - Pupils 2100 56,909 56,909 72,725

SUPPORT SERVICES - INSTRUCTIONAL STAFFImprovement of Instruction Services 2210 8,290 8,290 7,233Educational Media Services 2220 2,377 2,377 4,131Assessment & Testing 2230 0Total Support Services - Instructional Staff 2200 10,667 10,667 11,364

Printed; 11/4/2015 155 APR



J A 181 C I D E I F G H I j J I K I L(100) (200) (300) (400) (500) (600) (700) (800) (900)

I Funct Employee Purchased Supplies & - Non-Capitalized TerminationI Description Salaries . - Capital Outlay Other Oblects - * Total BudgetIt Benefits Services Materials Equipment Benefits

38 SUPPORT SERVICES - GENERAL ADMINISTRATION39 Board of Education Services 2310 252 252 27840 Executive Administration Services 2320 20,399 20,399 22,01141 Service Ares Administrative Services 2330 747 747 101242 Claims Paid from Self Insurance Fund 2361 0

Workers Compensation or Workers Occupation Disease 236243 Acts Payments 044 Unemployment Insurance Payments 2363 0

(45 Insurance Payments (Regular or Self-Insurance) 2364 0(46 Risk Management and Claims Services Payments 2365 0(47 Judgment and Settlements 2366 0

Educational, Inspectional, Supervisory Services Related to 2367(48 Loss Prevention or Reduction 0(49 Reciprocal Insurance Payments 2368 0(50 Legal Services 2369 0(51 Total Support Services - General Administration 2300 21,398 21,398 23,301

(52 SUPPORT SERVICES - SCHOOL ADMINISTRATION(53 Office of the Principal Services 2410 37,575 37,575 41,111

Other Support Services - School Administration 2490(54 (Describe & Itemize) 0(55 Total Support Services - School Administration 2400 37,575 37,575 41,111

56 SUPPORT SERVICES - BUSINESS7 Direction of Business Support Services 2510 13,034 13,034 13,124

Fiscal Services 2520 19,723 19,723 22,988Facilities Acquisition & Construction Services 2530 0Operation & Maintenance of Plant Services 2540 123,132 123,132 129,379Pupil Transportation Services 2550 323 323 369Food Services 2560 23,548 23,548 24,631Internal Services 2570 0Total Support Services - Business 2500 179,760 179,760 190,491

SUPPORT SERVICES - CENTRALDirection of Central Support Services 2610 0

67 Planning, Research, Development, & Evaluation Services 2620 0Information Services 2630 0Staff Services 2640 0

70 Data Processing Services 2660 071 Total Support Services - Central 2600 0 0 072 Other Support Services (Describe & Itemize) 2900 073 Total Support Services 2000 306,309 306,309 338,992

74 COMMUNITY SERVICES (MRISS) 3000 261 261 282

75 PAYMENTS TO OTHER DIST & GOVT UNITS (MR/SS)76 Payments for Special Education Programs 4120 0

~? Payments for CTE Programs 4140 078 Total Payments to Other Dial & GovI Units 4000 0 0 0

79 DEBT SERVICES (MR/SS)80 DEBT SERVICE - INTEREST ON SHORT-TERM DEBT81 Tax Anticipation Warrants 5110 08? Tax Anticipation Notes 5120 083 Corporate Personal Prop. RepI. Tax Anticipation Notes 5130 0

Printed: 11/4/2015 155 APR



A 181 C D E I F C H I J I K I L

1 (100) (200) (300) (400) (500) (600) (700) (800) (900)I Funct Employee Purchased Supplies & . , Non-Capitalized TerminationI Description Salaries . Capital Outlay Other Obiects . . Total Budgeta Benefits Services Materials Equipment Benefits

284 State Aid Anticipation Certificates 5140 0285 Other (Describe & Itemize) 5150 0286 Total Debt Services - Interest 5000 0 0 0

287 PROVISION FOR CONTINGENCIES (MR!SS) 6000288 Total Disbursements/Expenditures 450,822 0 450,822 503,962

Excess (Deficiency) of Receipts/Revenues Over289 Disbursements/Expenditures 246,732

291 60- CAPITAL PROJECTS (CP)292 SUPPORT SERVICES (CP)293 SUPPORT SERVICES - BUSINESS

94 Facilities Acquisition and Construction Services 2530 05 Other Support Services (Describe & Itemize) 2500 06 Total Support Services 2000 0 0 0 0 0 0 0 0 0 0

7 PAYMENTS TO OTHER 01ST & GOVT UNITS (CP)8 PAYMENTS TO OTHER GOVT UNITS (In-State)9 Payments to Other Govt Units tIn-State) 4100 00 Payments for Special Education Programs 4120 01 Payments for CTE Programs 4140 0

302 Other Payments to In-State Govt. Units (Describe & Itemize) 41 gO 0303 Total Payments to Other Dist & Govt Units 4000 0 0 0 0

304 PROVISION FOR CONTINGENCIES (S&C/Cl) 6000305 Total Disbursements! Expenditures 0 0 0 0 0 0 0 0 0 0

Excess (Deficiency) of Receipts/Revenues Over306 Disbursements/Expenditures 0dO~

308 70- WORKING CASH (WC)30~

310 80-TORTFUND(TF)311 SUPPORT SERVICES - GENERAL ADMINISTRATION312 Claims Paid from Self Insurance Fund 2361 0

Workers’ Compensation or Workers’ Occupation Disease 2362313 Acts Payments 0

14 Unemployment Insurance Payments 2363 015 Insurance Payments (Regular or Self-Insurance) 2364 016 Risk Management and Claims Services Payments 2365 017 Judgment and Settlements 2366 0

Educational, Inspectionat, Supervisory Services Related to 2367318 Loss Prevention or Reduction 0

19 Reciprocal Insurance Payments 2368 00 Legal Services 2365 01 Property Insurance (Buildings & Grounds( 2371 02 Vehicle Insurance (Transporafion) 2372 03 Total Support Services - General Administration 2000 0 0 0 0 0 0 0 0 0 0

324 DEBT SERVICES (TF) 5000325 DEBT SERVICES - INTEREST ON SHORT-TERM DEBT326 Tas Anticipation Warrants 5110 0327 Corporate Personal Prop. Rept. Tax Anticipation Notes 5130 0

Printed~ 11/4/2015 155 AFR



A 181 C I D E I F G I H I I K I L

(100) (200) (300) (400) (500) (600) (700) (800) (900)

Funct Employee Purchased Supplies & . Non-Capitalized TerminationDescription Salaries . Capital Outlay Other Oblects - Total BudgetBenefits Services Materials Equipment Benefits

328 Other Interest or Short-Term Debt 5150 0

329 Total Debt Services - Interest on Short-Term Debt 5000 0 0 0330 PROVISIONS FOR CONTINGENCIES (TF) 6000

31 Total Disbursements/Expenditures 0 0 0 0 0 0 0 0 0 032 Excess (Deficiency) of Receipts/Revenues Over 0

90- FIRE PREVENTION & SAFETY FUND (FP&S)

5 SUPPORT SERVICES (FP&S)SUPPORT SERVICES - BUSINESS

Facilities Acquiaition & Construction Services 2530 0Operation & Maintenance of Plant Services 2540 0Total Support Services - Business 2500 0 0 0 0 0 0 0 0 0 0

4 Other Support Services (Describe & Itemize) 2000 041 Total Support Services 2000 0 0 0 0 0 0 0 0 0 0

34 PAYMENTS TO OTHER DIST & GOVT UNITS (FP&S)Other Payments to In-State Govt. Units 41 ~0

34 (Describe & Itemize) 0344 Total Payments to Other Dist & Govt Units 4000 0 0 0

34 DEBT SERVICES (FP&S)34 DEBT SERVICES- INTEREST ON SNORT-TERM DEBT347 Tas Anticipation Warrants 5110 034 Other Interest on Short-Term Debt (Describe & Itemize) 5150 034 Total Debt Service - Interest on Short-Term Debt 5100 0 0 0

350 DEBT SERVICES - INTEREST ON LONG-TERM DEBT 5200 0Debt Service - Payments of Principal on Long-Term Debt 5300

351 ~ (Lease/Purchase Principal Retired) 0352 Total Debt Service 5000 0 0353 PROVISION FOR CONTINGENCIES (FP&S) 6000354 Total Disbursements/Expenditures 0 0 0 0 0 0 0 0 0 0— Excess (Deficiency) of Receipts/Revenues Over355 Disbursements/Expenditures 0

Printed~ 11/4/2015 155 AFR

Page 23 Page 23

FEDERAL STIMULUS - AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) of 2009(Detailed Schedule of Receipts and Disbursements)

A IBI C I D E I F I G I H I I I J K L----RECEIPTS — —--- — — — — —--DISBURSEMENTS----- — —------—-- — —Districts Accounting Basis is CASH

(100) (200) (300) (400) (500) (600) (700) (800) (900)

ARRA Revenue Source Code Acct ARRA Receipts Salaries Employee Purchased Supplies & Capital Outlay Other Non-Capitalized Termination Totala Benefits Services Materials Equipment Benefits Expenditures

4 Beginning Balance July 1,2014

5 ARRA - General State Aid 4850 0

6 ARRA - Title I Low Income 4851 0

7 ARRA - Title I Neglected - Private 4852 0

8 ARRA - Title I Delinquent - Private 4853 0

9 ARRA - Title I School Improvement (Part A) 4854 0 010 ARRA - Title I School Improvement )Section 1003g) 4855 0 0

11 ARRA - IDEA Part B Preachool 4856 0 0

12 ARRA - IDEA Part B Flow Through 4857 0 0

13 ARRA - Title II 0 Technology Formula 4880 0 014 ARRA - Title II 0 Technology Competitive 4881 0 0

15 ARRA - McKenney - Vento Homeless Education 4862 0 0

16 ARRA - Child Nutrition Equipment Asnistance 4863 0 017 Impact Aid Conatruction Formula 4864 0 018 Impact AiO Construction Competitive 4865 0 0

19 QZAB Tao Credito 4866 0 0

20 QSCB Tan Creditn 4867 0 0

21 Build America Bnndn Tao Credito 4868 0 0

22 Build America Bondo Interest Reimbursement 4865 0 0

23 ARRA- General State Aid - Other Govt Servicen Stabilization 4870 0 0

24 ARRA - Other II 4871 0 0

25 ARRA - Other III 4872 0 0

26 ARRA - Other IV 4873 0 0

27 ARRA - Other V 4874 0 0

28 ARRA - Early Childhood 4875 0 0

29 ARRA - Other VII 4876 0 030 ARRA - Other VIII 4877 0 0

31 ARRA - Other IX 4878 0 0

32 ARRA - Other X 4879 0 033 ARRA - Other Xl 4880 0 034 Total ARRA Programs 0 0 0 0 0 0 0 0 0

35 Ending Balance June 30, 2015 03637 1. Were any funds from the State Fiscal Stabilization Fund Program (SFSF) General State-Aid Accounts 4850, line 5 & 4870, tine 2338 used for the following non-allowable purposes:39 Payments of maintenance costs;40 Stadiums or other facilities used for athletic contests, exhibitions or other events for which admission is charged to the general public;41 Purchase or upgrade of vehicles;42 Improvements ot stand-alone facilities whose purpose is not the education of children such as central office administrative buildings;43 Financial assistance to students to attend private elementary or secondary schools unless the funds are used to provide special44 education and related services to children with disabilities as authorized by the IDEA Act;45 School modernization, renovation, or repair that is inconsistent with State Law.4647 2. If any above boxes are checked provide the total amount48 of questioned costs and provide an explanation below:495051525354

5556

155 APR, 11/4/2015

Page 24Page 24

A B C D E F

SCHEDULE OF AD VALOREM TAX RECEIPTS

Taxes Received. Taxes Received

. 7-1-14 Thru 6-30-15 Taxes Received Total Estimated Taxes Estimated Taxes DueDescription (from 2013 Levy & (from the 2014 Levy) (from 2013 & Prior (from the 2014 Levy) (from the 2014 Levy)

2 Prior Levies) * evies)3 (Column B - C) (Column E - C)4 Educational 2,775,883 999,504 1,776,379 3,415,195 2,415,691

5 Operations & Maintenance 294,064 150,334 143,730 513,691 363,3576 Debt Services 2,468,921 1,417,281 1,051,640 4,842,959 3,425,6787 Transportation 103,415 94,776 8,639 324,097 229,321

8 Municipal Retirement 104,514 30,775 73,739 105,000 74,2259 Capital Improvements 0 0 010 Working Cash 0 0 011 Tort Immunity 0 0 012 Fire Prevention & Safety 0 0 013 Leasing Levy 0 0 014 Special Education 0 0 015 Area Vocational Construction 0 0 016 Social Security/Medicare Only 104,514 30,775 73,739 105,000 74,22517 Summer School 0 0 018 Other (Describe & Itemize) 0 0 019 Totals 5,851,311 2,723,445 3,127,866 9,305,942 6,582,497

20~ * The formulas in column B are unprotected to be overidden when reporting on a ACCRUAL basis.

22 All tax receipts fcr debt service payments on bonds must be recorded on line 6 (Debt Services).

Printed: 11/4/201~155 AFR

Page 25—I A B C I 0 I E F I G I H I J

SCHEDULE OF SHORT-TERM DEBT

Description Outstanding Issued 07101/14 Retired 07/01/14 Outstanding2 Beginning 07/01/14 Through 06/30/15 Through 06/30/15 Ending 06/30/15— CORPORATE PERSONAL PROPERTY REPLACEMENT TAX3 ANTICIPATION NOTES (CPPRT)4 Total CPPRT Notes 0

5 TAX ANTICIPATION WARRANTS (TAW)6 Educational Fund 07 Operations & Maintenance Fund 0

8 Debt Services - Construction 0

9 Debt Services - Working Cash 010 Debt Services Refunding Bonds D

11 Transportation Fund 0

12 Municipal Retirement/Social Security Fund 0

13 Fire Prevention & Safety Fund 0

14 Other - (Describe & ltemize( 0

15 TotalTAWs 0 0 0 0

16 TAX ANTICIPATION NOTES (TAN)17 Educational Fund 0

18 Operations & Maintenance Fund 0

19 Fire Prevention & Safety Fund 020 Other - (Describe & ltemize( 0

21 TotalTANs 0 0 0 0

22 TEACHERS/EMPLOYEES ORDERS (TIEO1Total T/EOs (Educational, Operalions & Maintenance, &

23 Transportation Funds) 0

24 GENERAL STATE-AID ANTICIPATION CEFPTIFICATES (GSAAC)25 Total GSAACs (All Funds) 0

26 OTHER SHORT-TERM BORROWING27 Total Other Short-Term Borrowing (Describe & Itemize) o

29 SCHEDULE OF LONG-TERM DEBT

Amount to beDate of Issue Amount of Original Issued 7/1114 thru Any differences Retired 7/1/14 thru Outstanding Provided forIdentification or Name of Issue Type of Issue Outstanding 07/1/14 described and(mm/dd/yy) Issue 6/30/15 tomized 6/30/15 6/30/15 Payment on Long-

30 Term Debt31 2009 (C ( Bonds 10/01/09 6243,873 3 6,243873 6.243.873 6,243,87332 2012 (A( Bonds 08/15/12 3,695,000 3 3,13D,00D 310,000 2,820,000 2,470,01333 2012 (B( Bonds 08/15/12 1,740,000 3 1,490,000 135,000 1,355,000 1,177,78734 2012(C( Bonds 08/15/12 20,365,000 3 19,455,000 330,000 19,125,000 18,147,67535 ImagetecCopierLease 09/01/13 165,372 9 137,361 31,231 106,130 106,13036 0

000

049 32,209,245 30,456,234 0 0 806,231 29,650,003 28,145,481

51 * Each type of debt issued must be identifieo separately with the amount:52 1. Working Cash Fund Bonds 4. Fire Prevent, Safety, Environmental and Energy Bonda 7. Other53 2. Funding Bonds 5. Tort Judgment Bonds 8. Other54 3. Refunding Bonds 6. Building Bonds 9. Other

Printed: 11/4/2015, t55 APR

Page 26 Schedule of Restricted Local Tax Levies and Selected Revenues Sources Page 26

Schedule of Tort Immunity Expenditures

_JAIBICIDI E I F I G H I J I KSCHEDULE OF RESTRICTED LOCAL TAX LEVIES AND SELECTED REVENUE SOURCES

School FacilityDescription Account No Tort Immunity a Special Education Area Vocational Occupation Driver Education

2 Taxes

3 Cash Basis Fund Balance as of July 1,20144 RECEIPTS:

5 Ad Valorem Taxes Received by D~trict 10, 20, 40 or 50-11006 Earnings on Investments 10, 20, 40, 50 or 60-15007 Drivers Education Fees 10-19708 School Facility Occupation Tax Proceeds 30 or 60-19839 Driver Education 10 or 20-3370

10 Other Receipts (Describe & Itemize on tab ‘Itemization 32’) --

11 Sale of Bonds io, 20, 40 or 60-720012 Total Receipts o 0 0 0 0

13 DISBURSEMENTS:14 Instruction 10 or 50-100015 Facilities Acquisition & Construclio’r Services 20 or 60-253016 Tort Immunity Services lo, 20, 40-2360-237017 DEBTSERVICE18 Debt Services - Interest on Long-Term Debt 30-5200

Debt Services - Payments of Prinopal on Long-Term Debt19 (Lease/Purchase Principal Retired 30-530020 Debt Services Other (Describe & Itemize on tab ‘Itemization 32”) 30-540021 Total Debt Services o22 Other Disbursements (Describe & Itemize on tab “Itemization 32”) --

23 Total Disbursements 0 0 0 0 024 Ending Cash Basis Fund Balance as of June 30, 2015 0 0 0 0 0

25 Reserved Fund Balance 71426 Unreserved Fund Balance 730 0 0 0 0 0Zr28 SCHEDULE OF TORT IMMUNITY EXPENDITURES

30 Yes No Has the entity established an insurance reserve pursuant to 745 ILCS 10/9-103?31 If yes, list in the aggregate the following: Total Claims Payments:32 Total Reserve Remaining:3~ Using the following categories, list all other Tort Immunity expenditures ~

included in line 30 above. Include the total dollar amount for each category.35 Expenditures:36 Workers’ Compensation Act and/or Workers’ Occupational Disease Act37 Unemployment Insurance Act38 Insurance (Regular or Self-Insurance)

39 Risk Management and Claims Service40 Judgments/Settlements41 Educational. Inspectional. Supervisory Services Related to Loss Prevention and/or Reduction42 Reciprocal Insurance Payments (Insurance Code 72, 76, and 81)

43 Legal Services44 Principal and Interest on Tort Bcnds

46 a Schedules for Tort Immunity are to be completed 2~~yJf expenditures have been reported in any fund other than the Tort Immunity Fund (80) during the fiscal year as a result of existing (restricted) fund balances47 in those other funds that are being spent down. Cell 56 above should include inlerest earnings only from these restricled tort immunity monies and only if reported in a fund other than Tort Immunity Fund (80).

48 b ~ ILCS 5/5-1006.7

Printed: 11/4/2015, 155 AFR

Page 27 Page 27

A IBI C D I E F IGI H I J I K I L~1~I

Schedule of Capital Outlay and Depreciation-~-

Add: Less:Less: Accumulated Accumulated BalanceAcct Add: Additions Life In Depreciation DepreciationDescription of Assets Cost 7-1-14 2014-15 Deletions Cost 6-30-15 Years Depreciation Allowable Deletions Depreciation Undepreciated

2014-15 7-1-14 6-30-15 6-30-154 2014-15 2014-155 Works of Art & Historical Treasures 210 0 0 0

6 Land 2207 Non-Depreciable Land 221 219,064 219,064 219,064

8 Depreciable Land 222 0 50 0 0

9 Buildings 23010 Permanent Buildings 231 15,294,595 15,294,595 50 5,633,848 303,321 5,937,169 9,357,426

11 Temporary Buildings 232 0 25 0 0Improvements Other than Buildings

240 20 398,980 1,277,79412 (Infrastructure) 858,718 818,056 1,676,774 356,047 42,933

13 Capitalized Equipment 25014 loYrSchedule 251 1,654,703 631,101 86,032 2,199,772 10 700,890 156,866 86,032 771,724 1,428,048

15 5 Yr Schedule 252 0 5 0 0

16 3Yr Schedule 253 0 3 0 0

17 Construction in Progress 260 0 — 0

18 Total Capital Assets 200 18,027,080 1,449,157 86,032 19,390,205 6,690,785 503,120 86,032 7,107,873 12,282,332

19 Non-Capitalized Equipment 700 171,077 10 17,108

20 Allowable Depreciation 520,228


Page 28 Page 28

I A B Id D El F1 ESTIMATED OPERATING EXPENSE PER PUPIL (OEPP)IPER CAPITA TUITION CHARGE (PCTC) COMPUTATIONS (2014-15)2 This schedule is completed for school districts on/v.34 Fund Sheet, Row ACCOUNT NO - TITLE

56

EXPENDITURES:EDO&MDSTRMR/SSTORT

Expenditures 15-22, Li 14Expenditures 15-22, Li50Expenditures 15-22, Li58Expenditures 15-22, L204Expenditures 15-22, L288Expenditures 15-22, L33i

OPERATING EXPENSE PER PUPIL

Total EspendduresTotal ExpendituresTotal ExpendituresTotal ExpendituresTotal Expend:turesTotal Expend:turex

LESS RECEIPTS/REVENUES OR DISBURSEMENTS/EXPENDITURES NOT APPLICABLE TO THE REGULAR K-12 PROGRAM:

Total Expenditures

7891011121314151617181920212223242526272829303132333337383940414243444546474849505152535455565758596061626364656667686970717273747576777879

TR Revenues 9-14, L43, Cot F 1412 Regular - Tranup Fees from Other Districts (In State)TR Revenues 9-14, L47, Col F 1421 Summer Sch - Tranup. Fees from Pupils or Parents (In State)TR Revenues 9-14, L48, Cot F 1422 Summer Sch - Tranup. Fees from Other Districts (In State)TR Revenues 9-14, L49, Cot P 1423 Summer Sch - Tranap. Fees from Other Sources (In State)TR Revenues 9-14, L5O Cot F 1424 Summer Sch - Tranap. Fees from Other Sources )Out of State)TR Revenues 9-14, L52, Cot F 1432 CTE - Transp Fees from Other Districts )tn State)TR Revenues 9-14, L56, Col F 1442 Special Ed - Trsnsp Fees from Other Districts )ln State)TR Revenues 9-14, L59, Cot F 1451 Adult - Transp Fees from Pupils or Parents (In State)TR Revenues 9-14, L60, Cot F 1 452 Adult - Transp Fees from Other Dstricts (In State)TR Revenues 9-14, L61, Cot F 1453 Adult - Transp Fees from Other Sources (In State)TR Revenues 9-14, L62, Cxl F 1454 Adult - Transp Fees from Other Scurces (Oat of State)O&M Revenues 9-14, L148, Cot D 3410 Adult Ed (from ICC8(O&M-TR Revenues 9-14, L149, Cot D & F 3499 Adult Ed - Other (Describe & Itemize)O&M-TR Revenues 9-14, L2i8, Col D,F 4600 Fed - Spec Education - Preschool Flow-ThroughO&M-TR Revenues 9-14, L219, Cxl D,F 4605 Fed - Spec Education - Preschool DiscretionaryO&M Revenues 9-14, L229, Cot D 4810 Federal - Adult EducationED Expenditures 15-22, L7, Col K - (8+1) 1125 Pre-K ProgramsED Expenditures 15-22, L9, Col K - (G+l) 1225 Special Education Programs Pre-KED Expenditures 15-22, Lii, Cot K - (G+I) 1275 Remedial and Supplemental Programs Pre-KED Expenditures 15-22, Li2, Cot K- (G+l) 1300 Adult/Continuing Education ProgramsED Expenditures 15-22, Li 5, Cxl K - (8+1) 1 600 Summer School ProgramsED Expenditures 15-22, L20, Cot K 1910 Pre-K Programs - Private TuitionED Expenditures i 5-22, L21. Cot K 1911 Regular K-i 2 Programs - Private TuitionED Expenditures 1 5-22, L22, Cot K 1912 Special Education Programs K-i 2 - Private TuitionED Expenditures 15-22, L23, Cxl K 1913 Special Education Programs Pre-K - TuitionED Expenditures 15-22, L24, Cxl K 1914 Remed:al/Supplementat Programs K-12 - Private TuitionED Expenditures 15-22, L25, Col K i915 Remedial/Supplemental Programs Pre-K - Private TuitisnED Expenditures 15-22, L26, Cxl K 1916 Adult/Continuing Education Programs - Private TuitionED Expenditures 15-22, L27, Cxl K 1917 CTE Programs - Private TuitionED Expenditures 15-22, L28, Cot K 1918 Interscholastic Programs - Private TuitionED Expenditures 15-22, L29, Col K 1919 Summer School Programs - Pnvate TuitionED Expenditures 15-22, L30, Col K 1920 Gifted Programs - Private TuitionED Expenditures i5-22, L3i, Cxl K 192i Bilingual Programs - Pxvate TuitionED Expenditures 15-22, L32, Cot K 1922 Truants Alternative/Optional Ed Prxgms - Private TuilionED Expenditures i5-22, L75, Cot K - (8+1) 3000 Community ServicesED Expenditures 15-22, L102, Col K 4000 Total Payments to Other District & Govt UnitsED Expenditures 15-22, L114, Cxl G - Capital OutlayED Expenditures 15-22, L114, Colt - Non-Capitalized EquipmentO&M Expenditures 15-22, L130, Cot K - (8+1) 3000 Community ServicesO&M Expenditures 15-22, Li38, Cot K 4000 Total Payments to Other Dist & Govt UnitsO&M Expenditures 15-22, Li50, Cot G - Capital OutlayO&M Expenditures 15-22, LiSO, Cxl I - Non-Capitalized EquipmentDS Expenditures 15-22, L154, Cxl K 4000 Payments to Other Dist & Govt UnitsDS Expenditures 15-22, Li64, Cot K 5300 Debt Service - Payments of Principat on Long-Term DebtTR Expenditures 15-22, L179, Cxl K - (G*l( 3000 Community ServicesTR Expenditures 15-22, L190, Cxl K 4000 Total Paymenta to Other Dist & Govt UnitsTR Expenditures 15-22, L200, Cxl K 5300 Debt Service - Payments of Principal on Long-Term DebtTR Expenditures 15-22, L204, Cxl 8 - Capital OutlayTR Expenditures 15-22, L204, Cot I - Nxn-Capitalized EquipmentMR/SE Enpenctiturex 15-22, L2i0, Cot K 1125 Pre-K ProgrameMR/ES Expenditures 15-22, L2i2, Cxl K 1225 Special Education Programs - Pre-KMR/ES Expenditures 15-22, L2i4, Cxl K 1275 Remedial and Supplemental Programs - Pre-KMR/SE Expenditures 15-22, L2i5, Cxl K 1300 Adult/Continuing Education ProgramsMR/SS Expenditures 15-22, L2i8, Cxl K 1600 Summer School ProgramsMR/SE Expenditures 15-22, L274, Cot K 3000 Community ServicesMR/SE Expenditures 1 5-22, L278, Cot K 4000 Total Payments to Other Dist & Govt Unts

Amount

12,438,7563,310,3991,778,326

419,902450,822

18,398,215

240,960

15,301

29,210841,677

77,485169,48447,450

1,371,6711,593

775,000

15,411

261

3,585,50314,812,712

1,009,7414,669.83

Total Deductions for OEPP Computation (Sum of Lines 18- 73) STotal Operating Expenses Regular K-12 (Line 14 minus Line 75)

9 Mo ADA from the General Stale Aid Claimable for 2014-2015 and Payable in 2018-2016 (ISBE 54-33), L12Estimated OEPP (Line 76/ Line 77) 5

Printed: 11/4/2015155 APR

Page 29 Page 29

—~ A B id D IEI FESTIMATED OPERATING EXPENSE PER PUPIL (OEPP)IPER CAPITA TUITION CHARGE (PCTC) COMPUTATIONS (2014-15)

This schedule is completed for school districts only.

TBTBTBTBTBTBTBTBTBTBEDED-O&MEDEDEDEDEDED-0&MED-O&M-TBED-O&M-DS-TB-MBISSEDED-O&M-TBED-O&M-MB/SSED-MB/SSEDED-O&M-MB/SSED-D&MED-O&M-TB-MB/SSEDED-O&M-TB-MB/SSED-TB-MB/SSED-TB-MB/SSED-TB-MB/SSED-TB-MB/SSED-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MBJSSED-O&M-DS-TB-MBJSSED-O&M-DS-TB-MB/SSED-TBO&MED-O&M-DS-TB-MB/SS-TartEDED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-MB/SSED-O&M-DS-TB-MB/SS-TartEDED-O&M-DS-TB-MB/SS-TortED,O&M,MB/SSED-TB-MB/SSED-TB-MB/SSED-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MB/SSED-O&M-TB-MBJSSED-O&M-TB-MB/SS

Sheet. Row ACCOUNT NO - TITLE

Bevenues 9-14, L42, Cal FBevenues 9-14, L44, Cal FBevenues 9-14, L45, Cal FBevenues 9-14, L46, Cal FBeverrues 9-14, L51, Cal FBevenues 9-14, L53, Cal FBevensea 9-14, L54, Cal FBevenuea 9-14, L55, Cal FBevenues 9-14, L57, Cal FBevenues 9-14, L58, Cal FBevenuea 9-14, L75, Cal CBevenues 9-14, L82, Cal C,DBevenuea 9-14, L84, Cal CBevenuea 9-14, L87, Cal CBevenues 9-14, L88, Cal CBevenuea 9-14, L91, Col CBevenaea 9-14, L92, Cal CBevenuea 9-14, L95, Cal C,DBevenues 9-14, L98, Col C,D,FBevenues 9-14, L104, Cal C,D,E,F,GBevenuea 9-14, LbS. Cal CBevenues 9-14, L131, Cal C,D,FBevenuea 9-14, L140, Cal C,D,GBevenuea 9-14, L144, Cal C,GBevenuea 9-14, L145, Cot CBevenues 9-14, L146, Cot C,D,GBevenues 9-14, L147,Cal C,DBevenuea 9-14, L154, Cal C,D,F,GBevenues 9-14, L155, Cal CBevenaea 9-14, L156, Cal C,D,F,GBevenuea 9-14, L157, Cal C,F,GBevenues 9-14, L159, Cal C,F,GBevenues 9-14, LiSP, Col C,F,GBevenues 9-14, LiSt, Cal C,F,GBevenues 9-14, L162, Cal C,F,G

Bevenues 9-14, L163, Cal C,D,F,GBevenues 9-14, L164, Cal C,D,F,GBevenues 9-14, L165, Cal C,D,E,F,GBevenues 9-14, L166, Cal C,D,E,F,GBevenues 9-14. L167, Cal C,PBevenues 9-14, L170. Cal DBevenuea 9-14, L171, Cal C-G,JBevenues 9-14, L180, Cal CBevenues 9-14, L184, Cal C,D,F,GBevenues 9-14. L191, Cal C,D,F,GBevenuea 9-14, L201, Cal C,GBevenuea 9-14, L211, Cal C,D,F,GBevenues 9-14, L216, Cal C,D,F,GBevenuea 9-14, L220, Cal C,D,F,GBevenues 9-14, L221, Cal C,D,F,GBevenuea 9-14, L222, Cal C,D,F,GBevenuea 9-14, L223, Cal C,D,F,GBevenues 9-14, L228, Cal C,D,GBevenue Adjustments )C231 thru J258)Bevenues 9-14, L260, Cal CBevenues 9-14, L261, Cal C-G,JBevenues 9-14, L262, Cal C,D,GBevenues 9-14, L263, Cal C,F,GBevenuea 9-14. L264, Cal C,F,GBevenaes 9-14, L265, Cal C,P,GBevenues 9-14, L266, Cat C,D,F,GBevenuea 9-14, L267, Cal C,D,F,GBeaenuea 9-14, L268, Cal C,D,F,GBeveauea 9-14, L269, Cal C,D,F,GBevenues 9-14, L270, Cal C,D,F,GBevenues 9-14, L271, Cal C,D,F,GBevenues 9-14, L272, Cal C,D,F,G

1411141314151418143114331434144114431444160017001811181918211829189019101940199119933100320033003360336533703500361036603695371537203725372637663767377537803815392539994045

4620462546304699470048004901490249044905490949104920493049324960499149924999

824000000000

17,1450

5,5240000

178,70100

32,044391,970

1,02126,309

8,41900

191,792a000000000000

124,790000

649,149689,049

0219,555

0000000000000

74,0940

78,91040,688

0

The total OEPP/PCTC may change based an the data pravided. The tinal amaunta will be calculated by ISBE

Fund

LESS OFFSETTING RECEIPTS/REVENUES:

Amount

PER CAPITA TUITION CHARGE

Begalar -Transp Fees tram Papilu ar Parents (In State)Begular - Tranap Fees tram Other Ssarces )ln State)Begular - Transp Fees tram Ca-curricalar Activities (In State)Begular Transp Fees tram Other Sources )Out at State)CTE - Transp Fees tram Pupils or Parents )ln State)CTE - Tranap Fees tram Other Sources )ln State)CTE - Tranap Fees tram Other Saarces )Ost at State)Special Ed - Transp Fees tram Pupils or Parents )ln State)Special Ed - Tranap Fees tram Other Sources )ln State)Special Ed - Tranap Fees tram Other Sources )Oat at State)Total Faad ServiceTotal District/School Activity IncameBentats - Begular TextbooksBentals - Other )Describe & ltemrze)Sales - Begular TextbooksSales - Other )Describe & Itemize)Other )Describe & Itemize)BentalsServices Provided Other DistrictsPayment tram Other DistrictsOther Lacal Fees )Describe & Itemize)Total Special EdacatianTotal Career and Technical EducatisnTotal Bilingual EdState Free Lunch & SreaktautSchool Ereaktast InitiativeDriver EducationTotal TransportationLearning tmpravement - Change GrantsScientitic LiteracyTruant Alternative/Optional EdacatianBeading Improvement Slack GrantBeading Improvement Slack Grant - Beading BecaveryContinued Beading Improvement Slack GrantContinued Beading Improvement Slack Grant )2% Set Aside)Chicago General Edacatian Slack GrantChicago Educational Services Stock GrantSchool Satety & Edacational Improvement Black GrantTechnology - Technalogy tar SuccessState Charter SchoolsSchool Intrastructure - Maintenance ProjectsOther Bestricted Beverrue tram State SourcesHead Start )Subtract)Total Bestricted Grants-In-Aid Beceived Directly tram Federal GovtTotal Title VTatal Food ServiceTotal Title ITotal Title IVFed - Spec Education - IDEA - Flaw ThroughFed - Spec Education - IDEA - Boom & BoardFed - Spec Education - IDEA - DiscretionaryFed - Spec Educatian - IDEA - Other )Describe & Itemize)Total CTE - PerkinsTotal ABBA Program AdjustmentsBace to the TapBace to the Tap-Preschool Expansian GrantAdvanced Placement Fee/International BaccalaureateTitle III - Immigrant Educatan Program )IEP)Title lit - Language Inst Program - Limited Eng (LIPLEP)Learn & Serve AmericaMcKinney Education tar Homeless ChildrenTitle II - Eisenhower Proteasianal Development FormulaTitle II - Teacher OualityFederal Charter SchoolsMedicaid Matching Funds - Administrative OutreachMedicaid Matching Funds - Fee-tar-Service ProgramOther Bestricted Bevenue tram Federal Sources )Describe & Itemize)

Total Deductions for PCTC Compulalion (Sum of Lines 83- 173>Total PCTC Expenditures (Line 76 minus Line 175)Total Depreciation Allowance (from page 27, CoIl)

Total Net Expenditures for PCTC Computation Line 176 pIus Line 177)9 Mo ADA (from Line 77)

Total Estimated PCTC (Line 178/Line 179)

S 2,729,98412,082,728

520,22812,602,956

1,009.74S 12,481.39

Printed: 11/4/2015155 AFB

Page 30 Page 30

ESTIMATED INDIRECT COST DATA

_IAI B CI D E F G IH

1 ESTIMATED INDIRECT COST RATE DATA2 SECTION I3 Financial Data To Assist Indirect Cost Rate Determination4 (Source document for the computation of the Indirect Cost Rate is found in the ‘Expenditures 15-22” tab.)

ALL OBJECTS EXCLUDE CAPITAL OUTLAY. With the exception of line 11, enter the disbursements/expenditures included within the following functions charged directly to end reimbursed fromfederal grant programs. Also, include all amounts paid to or for other employees within each function that work with specific federal grant programs in the same capacity as those charged to andreimbursed from the same federal grant programs. For example, if a district received funding for a Title I clerk, all other salaries for Title I clerks performing like duties in that function must beincluded. Include any benefits and/or purchased services paid on or to persons whose salaries are classified as direct costs in the function listed.

6 Support Services - Direct Costs (1 -2000) and (5-2000)7 Direction of Business Support Services (1 -2510) and (5-2510)8 Fiscal Services (1-2520) and (5-2520)9 Operation and Maintenance of Plant Services (1, 2, and 5-2540)10 Food Services (1-2560) Must be less fhan (P16, Col E-F, L62)

Value of Commodities Received for Fiscal Year 2015 (Include the value of commodities when determining if an A-13311 is required). 34,73412 Internal Services (1 -2570) aid (5-2570)13 Staff Services (1-2640) and (5-2640)14 Data Processing Services (1-2660) and (5-2660)15 SECTION II16 Estimated Indirect Cost Rate for Federal Programs17 Restricted Program Unrestricted Program18 Function Indirect Costs Direct Costs Indirect Costs Direct Costs19 Instruction 1000 6,952,278 6,952,27820 Support Services:21 Pupil 2100 1,040,310 1,040,31022 Instructional Staff 2200 737,605 737,60523 General Admin. 2300 497,634 497,63424 SchoolAdmin 2400 881,767 881,76725 Business:26 Direction of Business Spt. S-v. 2510 94,040 0 94,040 027 Fiscal Services 2520 300,569 0 300,569 028 Oper. & Maint. Plant Services 2540 1,997,888 1,997,888 029 Pupil Transportation 2550 420,225 420,22530 Food Services 2560 756,463 756,46331 Internal Services 2570 0 0 0 032 Central:33 Direction of Central Spt. Srv 2610 0 034 Plan, Rsrch, Dvlp, Eval. Srv. 2620 0 035 Information Services 2630 0 036 Staff Services 2640 0 0 0 037 Data Processing Services 2660 0 0 0 038 Other: 2900 383,605 383,60539 Community Services 3000 76,921 76,92140 Total 394,609 13,744,696 2,392,497 11,746,80841 Restricted Rate Unrestricted Rate42 Total Indirect Costs: 394,609 Total Indirect costs: 2,392,49743 Total Direct Costs: 13,744,696 Total Direct Costs: 11,746,80844 = 2.87% = 20.37%45

Printed: 11/4/2015 155 AFR

A I B 101 D I E

i REPORT ON SHARED SERVICES OR OUTSOURCING2 School Code, Section 17-1.1 (Pub!icAct97-0357)

3 Fiscal Year Ending June 30, 2015— Complete the following for attempts to improve fiscal efficiency through shared services or outsourcing in the priol current and next fiscal years. For additional in formation, please see the following website:

5 http://www.isbe.net/sfms/afr/afr.htm.V CALUMET CITY SCHOOL DISTRICT

07-016-1550-02

Prior Current . Name of the Local Education Agency (LEA) Participating in the JointCheck if the schedule is rot applicable. . . Next Fiscal Year8 Fiscal Year Fiscal Year Agreement, Cooperative or Shared Service.

9 Indicate with an (X) If Deficit Reduction Plan Is Required for Annual Budget

Barriers toService or Function (Check all that apply)10 Implementation (Limit text to 200 characters, for additional space use line 33 and 38)11 Curriculum Planning12 Custodial Services13 Educational Shared Programs1 4 Employee Benefits15 Energy Purchasing X X x Energy Purchasing from IEC16 Food Services17 Grant Writing1 8 Grounds Maintenance Services19 Insurance x x x Gallagher- Medical, Life, Property Insurance20 Investment Pools x x x Thornton Fractional School Treasurers Office21 Legal Services22 Maintenance Services23 Personnel Recruitment24 Professional Development25 Shared Personnel26 Special Education Cooperatives x x x Echo27 STEM (science, technology, engineering and math) Program Offerings28 Supply & Equipment Purchasing X X x South Suburban Purchasing Cooperative29 Technology Services X X X Net 5630 Transportation31 Vocational Education Cooperatives32 All Other Joint/Cooperative Agreements33 Other X X x Public Library3435 Additional space for Column (D) - Barriers to Implementation:36373840 Additional space for Column (E) - Name of LEA:414243

Page 31

Page 32 Page 32

ILLINOIS STATE BOARD OF EDUCATIONSchool Business Services Division (N-330)

100 North First StreetSpringfield, IL 62777-0001

LIMITATION OF ADMINISTRATIVE COSTS WORKSHEET School District Name: CALUMET CITY SCHOOL DISTRICT #1(Section 17-1.5 of the School Code) RCDT Number: 07-016-1550-02

Actual Expenditures, Fiscal Year 2015 Budgeted Expenditures, Fiscal Year 2016(10) (20) (10) (20)

Description Funct. Educational Fund Operations & Total Educational Fund Operations & TotalNo. Maintenance Fund Maintenance Fund

1. Executive Administration Services 2320 388,896 388,896 399,022 399,0222. Special Area Administration Services 2330 4,478 4,478 3,763 3,7633. Other Support Services - School Administration 2490 0 0 04. Direction of Business Support Services 2510 81,006 0 81,006 85,023 85,0235. Internal Services 2570 0 0 06. Direction of Central Support Services 2610 0 0 07. Deduct - Early Retirement or other pension obligations required

by state law and included above. 0 08. Totals 474,380 0 474,380 487,808 0 487,808

Percent Increase (Decrease) for FY2016 (Budgeted) over 0

FY2015 (Actual) 3/0

CERTIFICATIONI certify that the amounts shown above as “Actual Expenditures, Fiscal Year 2015” agree with the amounts on the district’s Annual Financial Report for Fiscal Year 2015.I also certify that the amounts shown above as “Budgeted Expenditures, Fiscal Year 2016” agree with the amounts on the budget adopted by the Board of Education.

~Sup~te~

If line 91$ greater than 5% please check one box below.The District is ranked by ISBE in the lowest 25th percentile of like districts in administrative expenditures per student (4th quartile) and will waive the limitation by board action,subsequent to a public hearirg. Waiver resolution must be adopted no later than June 30.

The district is unable to waive the limitation by board action and will be requesting a waiver from the General Assembly pursuant to the procedures in Chapter 105 ILCS 5/2-3.25g.Waiver applications must be jostmarked by August 16, 2015 to ensure inclusion in the Fall 2015 report, postmarked by January 17, 2016 to ensure inclusion in the Spring 2015report, or postmarked by August 15, 2016 to ensure inclusion in the Fall 2016 report. Information on the waiver process can be found at www.isbe.net/isbewaivers/default.htm,

The district will amend their budget to become in compliance with the limitation. Budget amendments must be adopted no later than June 30.

Page 33 Page 33

This page is provided for detailed itemizations as requested within the body of the report.Type Below.

1. Pg.11 Line 106, Fund 10- B-Rate reimbursements -$32,0442. Pg.11 Line 107, Fund 10- ECHO, Jury Duty, refunds, and reimbursements -$20,987, FUND 20 State of Illinois reimbursement for

school security improvements $30,200 Lawsuit settlement payments- $689,8803. Pg. 12, Line 171, Fund 10 - Other state programs - $123,984, Library Grant $8064. Pg. 13, Line 210, Fund 10- Title I Other Revenue- $3305. Pg. 15 Line 41, Fund 10 - Pupil support and extra duty salaries - $25,029 and Employee Benefits- $1,6786. Pg. 16 Line 73, Fund 10 - Other support services purchase services - $382,962 and Supplies- $6437. Pg. 16 Line 83, Fund 10- Reading Recovery and South Cook ISC purchased services -$9,7758. Pg 18, Line 165, Fund 30 - Other - Trust Fees $8,855~. Pg. 19 Line 231, Fund 50- Building and playground supervision benefits -$1,903

10. Error Audit Check - Pg. 18, H164 does not equal Pg. 25, H49 due to Pg. 18, H163 does not include capital lease total payments of$31,231 this was paid from another Fund.

11. Pg. 7, Line 27, Fund 20 - Permanent transfer from the Education Fund - $141 6,115.12. Pg. 8, Line 49, Fund 10 - Permanent transfer to the Operation and Maintenance Fund - $1,416,115.

CALUMET CITY SCHOOL DISTRICT #15507-01 6~1 550-02

Page 34 Page 34

Reference Pages.

Do not enter negative numbers. Reports with negative numbers will be returned for correction.2 GASB Statement No. 24; Accounting and Financial Reporting for Certain Grants and Other Financial Assistance. The ~On Behalf of Payments should only be reflected

on this page.~ Equals LineS minus Line 17~‘ May require notification to the county clerk to abate an equal amount from taxes nest extended. Refer to Section 17-2.11 for the applicable provisions and other limite& transfer

authority to O&M through June 30, 2013~ Requires notification to the county clerk to abate an equal amount from taxes next extended. See Section 10-22.14

e Use of proceeds from the sale of school sites buildings, or other real estate is limited. See Sections 5-22 and 10-22.8 of the School Code.

~ Include revenue accounts 1110 through 1115, 1117, 1118 & 1120. Include taxes for bonds sold that are in addition to those identified separately.

~ Educational Fund (10) - Computer Technology only.9 Corporate personal property replacement tax revenue must be first applied to the Municipal Retirement/Social Security Fund to replace tax revenue lost due to the

abolition of the corporate personal property tax (30 ILCS 115/12). This provision does not apply to taxes levied for Medicare-Only purposes.~ Include only tuition payments made to private facilities. See Function 4200 or 4400 for public facility disbursements/expenditures.11 Payment towards the retirement of lease/purchase agreements or bonded/other indebtedness ) noaj..orijy) otherwise reported within the fund—e.g. alternate revenue

bonds( Describe & Itemize).12 Only abolishment of Working Cash Fund must transfer its funds directly to the Educational Fund upon adoption of a resolution and at the close of the

current school Year (see 105 ILCS 5/20-8 for further explanation)

Only abatement of working cash fund can transfer its funds to any fund in most need of money (see 105 ILCS 5/20-10 for further explanation)

Page 35 Page 35

Instructions to insert word doc or pdf files:Choose: Insert - Select: Object - Select Create New tabSelect file type Adobe Acrobat or Microsoft WordDocument - Select Create from File tab - Select Browse -

Select file that you want to embed - Check Display asicon - Select OK.

If you have trouble inserting pdf files it is because you do not havethe Adobe program.

Page 36 Page 36

_J A I B C I D E I F IGIHDEFICIT ANNUAL FINANCIAL REPORT (AFR) SUMMARY INFORMATIONNew Provisions in the School Code, Section 17-1 (105 ILCS 5/17-1)

Instructions: If the Annual Financial Report (AFR) reflects that a “deficit reduction plan” is required as calculated below, then the school district is to complete the “deficit reduction plan” in the annualbudget and submit the plan to Illinois State Board of Education (ISBE) within 30 days after accepting the audit report. This may require the FY20 14 annual budget to be amended to include a “deficitreduction plan” and narrative.

— The “deficit reduction plan” is developed using ISBE guidelines and format in the School District Budget Form 50-36. A plan is required when the operating funds listed below result in direct revenues(line 7) being less than direct expenditures (line 8) by an amount equal to or greater than one-third (1/3) of the ending fund balance (line 10). That is, if the ending fund balance is less than three timesthe deficit spending, the district must adopt and submit an original budget/amended budget with ISBE that provides a “deficit reduction plan” to balance the shortfall within the next three years.

4

DEFICIT AFR SUMMARY INFORMATION - Operating Funds Only(All AFR pages must be competed to generate the following calculation)

6 EDUCATIONAL TRANSPORTATION WORKING CASH TOTAL7 Direct Revenues 10,680,410 2,395,863 450,195 37,029 13,563,4978 Direct Expenditures 12,438,756 3,310,399 419,902 16,169,0579 Difference (1,758,346) (914,536) 30,293 37,029 (2,605,560)

10 Fund Balance-June 30, 2015 1,646,018 1,059,050 307,933 3,929,190 6,942,191

11 Unbalanced - a “deficit reduction plan” and narrative must be adopted

12 and submitted to ISBE with the FY2015 School District Budget Form 50-— 36. This plan must result in a balanced operating budget within three

years as adopted by the local board of education. (See the SchoolDistrict Budget Form 50-36 -Tab: Deficit BudgetSum CaIc 20)

Audit Checklist

All entries must balance within the individual fund statements and schedules as instructed below.Any error messages left unresolved below, will be returned to the school district/joint agreement.Round all entries to the nearest dollar.

1. The auditor’s Opinion and Notes to the Financial Statements are embedded in the “Opinion-Notes 34” tab.2. Student Activity Funds, Convenience Accounts, end other agency funds are included, if applicable.3. All audit questions on page 2 are answered appropriatly by checking all that apply. This page must also be certified with the signature of the CPA firm. Comments and explanations4. All~ accounts and functions labeled ‘(describe & itemize> are properly noted on the “Itemization 32” tab.5. In all funds, Function No. 2900 does not include Worker’s Compensation or Unemployment Insurance.6. Tuition paid to another school district or to a joint agreement (in state> is coded to Function 4200, and Other Objects (600).7. Business Manager/Bookkeeper Costs are charged to the proper Function (No. 251 0/2520).8. If district is subject to PTELL on tab “Aud Ouest 2’, line 21 be sure to check the box and enter the effective date.

Balancing ScheduleCheck this Section for Error Messages

The following assures that various entries are in balance. Any Out of balance condition is followed by an error message in ~ and must be resolved before submittingto ISBE. One or more errors detected may cause this AFR lobe returned for corrections and resubmission. If impossible for entries to balance please explain on theitemization page.

Description: Error Message1. Cover Page: The Accounting Basis must be Cash or Accrual.2. The A-133 related documents must be completed and attached.

What Basis of Accounting is used? CASHAccounting for late payments (Audit Ouestionnaire Section D) OKAre Federal Expenditures greater than $500,000? OKIs all A133 information completed and enclosed? OKIs Budget Deficit Reduction Plan Required? Deficit reduction plan is required.

3. Page 3: Financial Information must be completed.Section A: Tax rates are not entered in the following format: [1.50 should be .01501. Please enter with the correct decimal point. OKSection D: Check a or b that agrees with the school district type. OK

4. Page 5: Cells C4:L4 Acct 111-115- Cash Balances cannot be negative.Fund (10) ED: Cash balances cannot be negative. OKFund (20) O&M: Cash balances cannot be negative. OKFund (30) DS: Cash balances cannot be negative. OKFund (40) TR: Cash balances cannot be negative. 01<Fund (50) MR/SS: Cash balances cannot be negative. OKFund (60) CP: Cash balances cannot be negative. OKFund (70) WC: Cash balances cannot be negative. 01<Fund (80) Tort: Cash balances cannot be negative. 01<Fund (90) FP&S: Cash balances cannot be negative. OK

5. Pages & 6: Total Current & Capital Assets must = Total Liabilities & Fund Balance.Fund 10, Cell C13 must = Cell C41. OKFund 20, Cell D13 must = Cell D41. OKFund 30, Cell E13 must = Cell 641. OKFund 40, Cell F13 must = Cell F41. OKFund 50, Cell G13 must = Cell G41. OKFund 60, Cell H13 must = Cell ff41. OKFund 70, Cell 113 must = Cell 141. OKFund 80, Cell Jl3must=Cell J41. 01<Fund 90, Cell 1<13 must = Cell 1<41. 01<Agency Fund, Cell L13 must = Cell L41. OKGeneral Fixed Assets, Cell M23 must = Cell M41. OKGeneral Long-Term Debt, Cell N23 must = Cell N41. OK

6. PageS: Sum of Reserved & Unreserved Fund Balance must = Page 8, Ending Fund Balance.Fund 10, Cells C38+C39 must = Cell C81. OKFund 20, Cells D38+D39 must = Cell D81. OKFund 30, Cells E38+E39 must = Cell E81 OKFund 40, Cells F38+F39 must = Cell F81. OKFund 50, Cells G38÷539 must = Cell G81. OKFund 60, Cells H38+H39 must = Cell H81. OKFund 70, Cells 138+139 must = Cell 181. OKFund 80, Cells J38+J39 must = Cell .J81. OKFund 90, Cells K38+K39 must = Cell K81. OK

8. Page 25: Schedule of Bonds Payable must = Pages 5, 8 & 18: Basic Financial Statements.Note: Explain any unreconcilable differences in the Itemization sheet.

Total Long-Term Debt Issued (P25, Cell F49) must = Principal on Long-Term Debt Sold (PB, Cells C33:F33, H33:K33). OKTotal Long-Term Debt (Principal) Retired (P18, Cells H163) must = Debt Service - Long-Term Debt (Principal) Retired (P25, Cells ERRORtH49).

9. Page 7 & 8: Other Sources of Funds (L 24:42) must = Other Uses of Funds (P8, L46:59).Acct 7130-Transfer Among Funds, Cells C27:K27 must = Acct 8130 Transfer Among Funds, Cells C49:K49 OKAcct 7140- Transfer of Interest, Cells C28:K28 must = Acct 8140 Transfer of Interest, Cells C50:K50. OKAcct 7900- ISBE Loan Proceeds (Cells C42:K42) must = Acct 8910- Transfers to Debt Service Fund to Pay Principal on ISBE Loans OK(Cells C74:K74)

10. Restricted Local Tax Levies Page 26, Line 25 must = Reserved Fund Balance, Pages 5 & 6, Line 38.

Reserved Fund Balance, Page 5, Cells C38:H38 must be => Reserve Fund Balance Cell G25:K25. OKUnreserved Fund Balance, Pages, Cells C39:H39 must be> 0 OK

11. PageS: “On behalf” payments to the Educational FundFund (10) ED: Account 3998 must be entered OK

12. Page 28: The 9 Month ADA must be entered on Line 77. OK13. Page 32: LIMITATION OF ADMINISTRATIVE COST, Budget Information must be completed and submitted to ISBE. OK14. Page 31: SHARED OUTSOURCED SERVICES, Completed. OK

Schosl No: 155 APR

Documents

School District must complete a deficit reduction plan • Ix’ · John Kas,’r~ Co., Inc. ertified PublicAccountants INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION