Reference Description
1	Each fund balance should correspond to the fund balance reflected on the books as of June 30th - Balance Sheet Accounts #703 and #704 (audit figures, if available).
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 (Budget Summary, Lines 7 and 16).
3	Requires the secretary of the school board to notify the county clerk (within 30 days of the transfer approval) to abate an equal amount of taxes to be next extended. See Sec. 10-22.14 & 17-2.11.
4	Principal on Bonds Sold:
	(1) Funding Bonds or Tort Immunity Bonds can be entered in the Educational, Operations & Maintenance or Transportation Funds only.
	(2) Refunding Bonds can be entered in the Bond & Interest Fund only.
	(3) Building Bonds can be entered in the Site & Construction Fund only.
	(4) Fire Prevention and Safety can be entered in the Fire Prevention & Safety Fund only.
5	The proceeds from the sale of school sites, buildings, or other real estate shall be used first to pay the principal and interest on any outstanding bonds on the property being sold, and after all such bonds have been retired, the remaining proceeds from the sale next shall be used by the school board to meet any urgent district needs as determined under Sections 2-3.12 and 17-2.11 of the School Code. Once these issues have been addressed, any remaining proceeds may be used for any other authorized purpose and for deposit into any district fund.
6	The School Code, Section 10-22.44 prohibits the transfer of interest earned on the investment of "any funds for purposes of Illinois Municipal Retirement under the Pension Code." This prohibition does not include funds for Social Security and Medicare-only purposes.
7	Cash plus investments must be greater than or equal to zero.
8	For cash basis budgets, this total will equal the Budget Summary - Total Direct Receipts/Revenues (Line 6) and Other Financing Sources (Line 33).
9	For cash basis budgets, this total will equal the Budget Summary - Total Direct Disbursements/Expenditures (Line 15) and Other Financing Uses (Line 43).
10	Working Cash Fund loans may be made to any district fund for which taxes are levied (Section 20-6 of the School Code).
11	Include taxes for bonds sold that are in addition to those identified separately.
12	Educational Fund (10) - Computer Technology only.
13	Corporate personal property replacement tax revenue must be first applied to the Bond and Interest Fund (Bonds issued prior to Jan. 1, 1979) and then 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.
14	Tutition Object 80: Only tuition payments made to private facilities. See Function 4100 for estimated public facility disbursements/expenditures.
15	Payment towards the retirement of lease/purchase agreements or bonded/other indebtedness (principal only) otherwise reported within the fund - e.g.: alternate revenue bonds. (Describe & Itemize)