Business

The business office handles the daily financial operations of the school district, including food services and transportation. The District 47 Board of Education sets financial goals to safeguard funds and ensure the district's overall financial well-being, with specific policies in place for this purpose. The Assistant Superintendent of Business oversees district finances, aligning them with the educational goals established by the Board. Financial oversight involves planning, managing cash, budgeting, purchasing, accounting, and reporting on finances.

Annual Statement of Affairs 2023-2024
Annual Statement of Affairs 2022-2023
Annual Statement of Affairs 2021-2022
Annual Statement of Affairs 2020-2021
Annual Statement of Affairs 2019-2020
Annual Statement of Affairs 2018-2019
Annual Statement of Affairs 2017-2018
Annual Statement of Affairs 2016-2017
Annual Statement of Affairs 2015-2016
Annual Statement of Affairs 2014-2015

Financial Audit

A Comprehensive Annual Financial Report (CAFR) is a government financial statement that goes beyond the minimums established for public sector companies set by the National Council on Governmental Accounting. Crystal Lake Elementary District 47 has been awarded the Certificate of Excellence in Financial Reporting from the Association of School Business Officials. This award represents a significant achievement and reflects our commitment to the highest standard of school system financial reporting.

2023 Audit
2022 Audit
2021 Audit
2020 Audit
2019 Audit
2018 Audit
2017 Audit
2016 Audit
2015 Audit
2014 Audit

Bids/Requests for Proposals

Budget

The District budget fulfills a school code requirement for a plan for the receipt and expenditure of money, and is a prerequisite for spending funds. The District strives for continuous financial improvement and accountability and seeks to provide the best educational programming possible given the resources available and current economic conditions. Below are budgets for the current and previous school years.

2024-2025 Budget
2023-2024 Budget
2022-2023 Budget
2021-2022 Budget
2020-2021Budget
2019-2020 Budget
2018-2019 Budget
2017-2018 Budget
2016-2017 Budget
2015-2016 Budget
2014-2015 Budget

Contracts

Salary Compensation Report

For more IMRF benefit information, visit the IMRF Website.

2024-2025
IMRF Total Compensation Report

2023-2024
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2022-2023
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2021-2022
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2020-2021
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2019-2020
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2018-2019
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2017-2018
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2016-2017
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2015-2016
IMRF Total Compensation Report
Administrator & Teacher Salary Report

2014-2015
IMRF Total Compensation Report
Administrator & Teacher Salary Report

Tax Levy

Tax levy faqs

District 47 Board of Education Approves 2024 Tax Levy

After a public hearing at the District 47 board of education meeting on November 18, 2024, the board voted 7-0 to adopt the 2024 tax levy. The requested aggregate amount of total property taxes to be levied for 2024 is $90,750,000. The district’s 2023 tax levy request was $89.48 million. The amount received (tax levy extension) was $86,453,876.

Tax levy requests are based on projected operating expenses, estimated property values (Equalized Assessed Value or EAV, which is determined by the county) and local projected revenue from new construction. The 2024 tax levy request reflects current rising costs due to inflation, an estimated EAV increase of approximately 7.0 percent, and estimated new construction valued at $15 million.

For the past five years, the tax rate has declined (from $3.89 in 2019 to $3.67 in 2023). Based upon the levy assumptions of an EAV increase of approximately 7.0 percent the tax rate may decrease by $0.13. However, if the increase in property values is greater than the levy assumption, the tax rate may decrease more. A lower tax rate may represent a cost savings to homeowners as it reduces the overall tax rate, however, the change in the assessed valuation of their property will control the impact seen by each property.

Based on the 2024 tax levy request original estimates, the owner of a home valued at $300,000 with no increase in property value (EAV) could see a tax decrease of approximately $128. The owner of a home valued at $300,000 with a 3 percent increase in property value (EAV) could see a tax decrease of approximately $22.

The amount of money the school district asks for (tax levy request) and receive (tax levy extension) will differ as EAV and new construction estimates are not finalized until the spring. In addition, under the Illinois Property Tax Extension Limitation Law (PTELL), increases in property tax extensions are limited to the lesser of 5 percent or the increase in the consumer price index for the previous year (3.4 percent in December 2023).

To offset property taxes for homeowners, District 47 has applied for (but has not received) the property tax relief grant each year from the Illinois State Board of Education since it became available. The district will reapply for the grant this year.
District 47 receives approximately 75 percent of its revenue from local property tax dollars. Levies enable a school district to meet current financial obligations and plan for future needs. The money District 47 receives from annual property tax levies fund salaries and benefits per collective bargaining agreements; routine maintenance and improvements to aging facilities; educational programming and strategic planning initiatives; and overall operational costs.