District 115 Financial Information

Lake Forest School District 115 has historically maintained financial stability through increased efficiencies and careful monitoring of expenditures.

The District continually seeks new and innovative ways to continue these processes in an effort to keep from diminishing the educational programs. The District currently participates in a shared services agreement with Lake Forest School District 67 to provide greater articulation within the curriculum whole increasing efficiencies and reducing administrative costs. The employee base is steady with the LFEA labor contract not due to expire until the end of fiscal year 2016. Further, the support staff does not have a negotiated contract.

Early each calendar year, the District embarks on the process of building a budget for the next fiscal year. Short- and long-term financial projections, historical expenditure reports, and estimates of the state and local revenue receipts are all analyzed in an effort to craft the most accurate budget. Reports and documents related to the budget are listed below, along with brief explanations of their content.

We welcome your questions and comments. Please email Jennifer Hermes at .

To learn more about school finance, we recommend you view the document, Understanding School Finance published by the Illinois Association of School Boards.

Current & Historical District Budget Documents

The following are District budget documents from the current and previous fiscal years. 

ISBE Budget

ISBE Budget - Presents the District budget in a format required by the Illinois State Board of Education.

State Budget 2016-2017  
 State Budget 2015-2016  
State Budget 2014-2015   

Annual Financial Report

Annual Financial Report - A report filed with the Illinois State Board of Education after completion of the budget year, containing final District revenues and expenditures. Official signed copies available in the District Office.

Annual Financial Report 2015-2016  Independent Auditor's Report 2015-2016
Annual Financial Report 2014-2015  Independent Auditor's Report - 2014-2015
Annual Financial Report 2013-2014 Independent Auditor's Report - 2013-2014

Financial Reports

Procurement Card Fund Details & Bill List

Procurement Card Fund Details & Bill List - A monthly list of payments to District vendors.

  Invoices Paid – 12/1/16-1/3/17
   Invoices Paid 11/3/16-11/30/16
  Procurement Card Summary – September 2016 Invoices Paid - 9/29/16-11/2/16
  Procurement Card Summary – August 2016 Invoices Paid - 9/1/16-9/28/16
Procurement Card Summary - July 2016 Invoices Paid - 8/4/16-8/31/16
Procurement Card Summary - June 2016 Invoices Paid - 7/1/16-8/3/16
Procurement Card Summary - May 2016 Invoices Paid - 6/16/16 - 6/30/16
Procurement Card Summary - April 2016  Invoices Paid - 5/5/2016 - 6/15/2016
Procurement Card Summary - March 2016 Invoices Paid - 4/7/2016-5/4/2016
Procurement Card Summary - February 2016 Invoices Paid - 3/3/2016 - 4/6/2016
Procurement Card Summary - January 2016 Invoices Paid - 2/4/2016 - 3/2/2016
Procurement Card Summary - December 2015  Invoices Paid - 1/7/2016 - 2/3/16
Procurement Card Summary - November 2015 Invoices Paid - 11/25/2015 - 1/6/2016
Procurement Card Summary - October 2015 Invoices Paid - 11/5/2015 - 11/24/2015
Procurement Card Summary - September 2015  Invoices Paid - 10/8/2015 - 11/4/2015
 Procurement Card Summary - August 2015  Invoices Paid - 9/3/2015-10/7/2015
 Procurement Card Summary - July 2015 Invoices Paid -  8/6/2105-9/2/2015
 Procurement Card Summary - June 2015  Invoices Paid - 7/1/2015-8/5/2015
 Procurement Card Summary - May 2015  Invoices Paid - 6/18/2015-6/30/2015
  Procurement Card Summary - April  2015  Invoices Paid - 5/7/2015-6/17/2015
 Procurement Card Summary - March  2015  Invoices Paid - 4/9/2015-5/6/2015
 Procurement Card Summary - February 2015  Invoices Paid - 3/5/2015-4/8/2015
Procurement Card Summary - January 2015 Invoices Paid - 2/5/2015-3/4/2015 
Procurement Card Summary - December 2014  Invoices Paid - 1/08/2015 - 02/04/2015
  Procurement Card Summary - November 2014  Invoices Paid - 12/04/14 - 01/07/2015
 Procurement Card Summary - October 2014  Invoices Paid - 11/06/14 - 12/03/14
 Procurement Card Summary - September 2014  Invoices Paid - 10/09/14 - 11/05/14
 Procurement Card Summary - August 2014  Invoices Paid - 09/04/14 - 10/08/14
 Procurement Card Summary - July 2014  Invoices Paid - 08/07/14 - 09/03/14
 

Compensation & Contract Reports