Saturday, April 15, 2017

School finance book updated

The Illinois Association of School Boards has published an updated edition of its top-selling book, Essentials of Illinois School Finance: A Guide to Techniques, Issues, and Resources, authored by James B. Fritts. It’s both an informational guide and a desktop reference for public school leaders.

This, the seventh edition, has been updated by Fritts with the most current information available, including state budget data for Fiscal Year 2017 and recent numbers from various agencies of state and federal governments. The book also reflects the budget pressures and uncertainty that confronted state officials, boards of education, and school leaders as the 2016-2017 school year got underway.

The first part of the book deals with the budgeting and management of revenue, including where schools get it, how they maximize it, protect it, manage it and plan for it. The second half of the book addresses expenditures and describes ways to assess a district’s overall financial health, including how schools budget for expenditures, reduce them, and make plans to deal with them.

Together, the two sections provide a solid base for financial management and long-range planning. The final chapter describes the essential role of school board policy in setting standards for fiscal and business affairs.

Essentials of Illinois School Finance is now available at the IASB Online Bookstore, or by calling 217/528-9688, extension 1108.