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Financial Documents (PDF)


Lake Forest School District 67 has historically maintained financial stability through increased efficiencies and careful monitoring of expenditures. The challenging economic times of late have motivated the District to seek new and innovative ways to continue these processes in an effort to keep from diminishing the educational programs. The District currently participates in a shared services agreement with Lake Forest High School District 115 to provide greater articulation within the curriculum while increasing efficiencies and reducing administrative costs. Although declining enrollment has been projected the past few years, a drop in recent primary grade enrollments would indicate a sharper decline than originally projected. The employee base is steady with labor contracts not due to expire until the end of fiscal year 2015 (LFEA) and 2017 (SEIU).

Early each calendar year, the District embarks on the process of building a budget for the next fiscal year. Short- and long-term financial projections, historical expenditure reports, and estimates of the state and local revenue receipts are all analyzed in an effort to craft the most accurate budget. Reports and documents related to the budget are listed below, along with brief explanations of their content.


We welcome your questions and comments. Please email Jennifer Hermes at


To learn more about school finance, we recommend you view the document, "Understanding School Finance" published by the Illinois Association of School Boards.


Current & Historical District Budget Documents

The following are District budget documents from the current and previous fiscal years.


ISBE Budget - Presents the District budget in a format required by the Illinois State Board of Education.


State Budget 2013-2014 State Budget 2010-2011
State Budget 2012-2013 State Budget 2009-2010

State Budget 2011-2012

State Budget 2008-2009

Annual Financial Report - A report filed with the Illinois State Board of Education after completion of the budget year, containing final District revenues and expenditures. Official signed copies available in the District Office.


Annual Financial Report - 2011-2012 Independent Auditor's Report - 2011-2012

Annual Financial Report - 2010-2011

Independent Auditor's Report - 2010-2011

Financial Reports - Statements of the District's cash position issued each month. The Monthly Financial Report includes a comparison of the District's actual financial position to the budget. These documents also include investment reports.


Monthly Financial Report - June 2013 Monthly Financial Overview - June 2013
Monthly Financial Report - May 2013 Monthly Financial Overview - May 2013
Monthly Financial Report - April 2013 Monthly Financial Overview - April 2013
Monthly Financial Report - March 2013 Monthly Financial Overview - March 2013
Monthly Financial Report - February 2013 Monthly Financial Overview - February 2013
Monthly Financial Report - January 2013 Monthly Financial Overview - January 2013
Monthly Financial Report - December 2012 Monthly Financial Overview - December 2012
Monthly Financial Report - November 2012 Monthly Financial Overview - November 2012
Monthly Financial Report - October 2012 Monthly Financial Overview - October 2012
Monthly Financial Report - September 2012 Monthly Financial Overview - September 2012
Monthly Financial Report - July/August 2012 Monthly Financial Overview - July/August 2012
Monthly Financial Report - June 2012 Monthly Financial Overview - June 2012

Procurement Card Fund Details & Bill List - A monthly list of payments to District vendors.


Procurement Card Summary - May 2013 Invoices Paid - June 2013
Procurement Card Summary - April 2013 Invoices Paid - May 2013
Procurement Card Summary - March 2013 Invoices Paid - April 2013
Procurement Card Summary - February 2013 Invoices Paid - March 2013
Procurement Card Summary - January 2013 Invoices Paid - February 2013
Procurement Card Summary - December 2012 Invoices Paid - January 2013
Procurement Card Summary - November 2012 Invoices Paid - December 2012
Procurement Card Summary - October 2012 Invoices Paid - November 2012
Procurement Card Summary - September 2012 Invoices Paid - October 2012
Procurement Card Summary - August 2012 Invoices Paid - September 2012
Procurement Card Summary - July 2012 Invoices Paid - August 2012
Procurement Card Summary - June 2012 Invoices Paid - July 2012
Procurement Card Summary - May 2012 Invoices Paid - June 2012

Compensation & Contract Reports - Current collective bargaining agreements, compensation reports, and other contracts.


Salary Report – Search by District Name

Teacher Contract (LFEA) -  2012-2015

Support Staff (SEIU) - 2012-2017

Contract Annual Report

Contracts Exceeding $25,000