Annual Financial Reports
There are two financial reports that the District presents to the community after the conclusion of each fiscal year:
Annual Comprehensive Financial Report (ACFR)
The District presents a Annual Comprehensive Financial Report (ACFR), which is an audited, financial report that provides detailed information, analysis and historical comparisons of the District’s finances in compliance with accounting requirements promulgated by the Governmental Accounting Standards Board (GASB). Each year, the District’s finances are audited by an external accounting firm utilizing GASB requirements.
State Annual Financial Report
As required by Illinois law, the District submits an annual financial report (AFR) to the Kane County Regional Office of Education and the Illinois State Board of Education (ISBE). The AFR includes audited, basic financial statements and statistics for the fiscal year.
Historical financial reports are available on the Illinois State Board of Education (ISBE) website.