Thursday, November 8, 2018

New Essentials of Illinois School Finance
includes updates on Evidence-Based Funding

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.

The new Eighth Edition offers important updates, including a chapter on the state’s Evidence-Based Funding formula and the prospects it brings for improvement in the equity and adequacy of Illinois school funding.

Additionally in the Eighth Edition is a new Part 3, which describes the school board’s financial responsibilities and how the board can fulfill its leadership responsibilities for the school district’s financial health.
The indispensable Essentials of Illinois School Finance includes information on the basic principles and operations of Illinois school financial management. Part 1 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. Part 2 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. The new Part 3, as mentioned, focuses on the role of school board.

Since the first edition in 2002, Essentials of Illinois School Finance has provided a solid base for financial management and long-range planning for school districts. The Eighth Edition is now available at the IASB Online Bookstore (sign in using the My Account button at, or by calling 217/528-9688, extension 1145. It will also be available for purchase onsite from the IASB Bookstore at the Joint Annual Conference in Chicago, November 16 and 17.