Finance

The Burbank School District 111 Board of Education meets on the fourth Wednesday of every month (third Wednesday in November and December) to review the business transactions of the district and to approve payment of its bills. A “Voucher for Payment of Bills” showing those bills ready to be paid is presented to the board. The list is organized by the accounts assigned to each transaction. Account numbers are based on the numbering system listed in the Illinois Program Accounting Manual, which is followed by all school districts in Illinois. The “Lists of Bills” approved for payment each month are posted below. Following is a brief explanation of the purpose of each fund used on this list.


Education Fund (Fund 1) 
This is the district’s general fund. All transactions not accommodated by another specific fund are processed through the Education Fund. Transactions include the direct costs of instructional, health, and attendance services, lunch programs, and administration costs. The greatest variety and largest volume of transactions are recorded here.

Operations and Maintenance Fund (Fund 2)

All costs of maintaining, improving, or repairing school buildings are charged to the Operations and Maintenance Fund.

Debt Service Fund (Fund 3)

Payments for outstanding bond issues are made through the Debt Service Fund.

Transportation Fund (Fund 4)

All costs of student transportation are charged to the Transportation Fund.

IMRF/Social Security Fund (Fund 5)

The school district’s share of contributions for employees to the Illinois Municipal Retirement Fund and Social Security is paid through this fund.

Capital Improvements Fund (Fund 6)

The proceeds from any bond issue for the purpose of school construction are spent through this fund.

Working Cash Fund (Fund 7)

Money in this fund is used to loan to any other fund in need of additional money.

Tort Immunity Fund (Fund 8)

Money in this fund is used for pay liability insurance and loss prevention costs.

Life Safety Fund (Fund 9)

Money in this fund is used to pay for fire prevention, safety, or school security expenditures.
 

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Contact Us
Burbank School District 111
7600 S. Central Avenue
Burbank, IL 60459
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Phone: (708) 496-0500
Fax: (708) 496-0510