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Finance Knowledge

Finance Knowledge. IASA Sponsored Administrative Academy # 462. Goals. To learn the latest news from Springfield about the FY 2013 budget To learn how to operate the ISBE Budget Projection Software To learn how to communicate fiscal information to your school board and community

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Finance Knowledge

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  1. Finance Knowledge • IASA Sponsored Administrative Academy # 462

  2. Goals • To learn the latest news from Springfield about the FY 2013 budget • To learn how to operate the ISBE Budget Projection Software • To learn how to communicate fiscal information to your school board and community • To learn about short and long term borrowing options available to school districts

  3. Budget, Budget, Budget

  4. ISBE Budget = ?Gov. Quinn = ?

  5. Madigan on Budget • Illinois is in for a long haul when it comes to pulling itself out of its financial mess • Madigan is arguably the most powerful man in Springfield • Illinois’ underfunded pension liability now exceeds $85 billion • School districts don’t pay into teachers’ pension systems like other employers do, leaving that obligation to the state

  6. Explaining “budget makers in Springfield must learn to live within their means.” • Madigan would not say whether he thought the state should make the recent 66 percent income tax increase permanent, saying he couldn’t address that until it’s set to expire in 2015.

  7. Governor’s Budget Address

  8. Problem with Illinois

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