District 54 has received the Association of School Business Officials International’s (ASBO) Certificate of Excellence in Financial Reporting Award for excellence in the preparation and issuance of its Comprehensive Annual Financial Report (CAFR) for the last 42 years.
District 54 has received a Meritorious Budget Award from the Association of School Business Officials (ASBO) International for the last 16 years. The Meritorious Budget Award is conferred only to school systems that have met or exceeded the Meritorious Budget Award Program criteria related to developing, analyzing and presenting a budget.
Taxes and Fees
Property taxes represent about 74 percent of District 54’s total revenues. Tax caps have been in place since 1991 that limit property tax growth to the increase of the Consumer Price Index (CPI) or 5 percent, whichever is less. The CPI for 2014 was 0.8 percent. Property tax caps are also affected by new construction, which have averaged less than .5 percent in recent years in District 54 (in 2013 new construction accounted for .96 percent). In the 2014-15 District 54 budget state aid accounts for 20 percent and federal aid 3 percent of overall revenues. School districts receive no sales taxes.
The remainder of the revenues are from interest and local fees.
|Student Milk Fee||10 cents||10 cents||20 cents||20 cents||20 cents||20 cents||20 cents|
fee for one child
|Open enrollment transportation
fee for one child
|Facility rental||These rates vary based on the time of the rental and the room requested. Please see the Facilty Rental page for details.|
Comprehensive Annual Financial Reports (CAFRs)
State of Illinois AFR
School District 54 Budgets
Annual Statements of Affairs
Disclosure of Federal Participation (Stevens Amendment)
Projects or programs funded in whole or in part with federal grant money must credit the federal government for the federal government’s portion of the financial support. This web page citation informs the public that use of federal dollars in Schaumburg Community Consolidated School District 54 meets the Stevens Amendment requirement. Staff development opportunities, resource purchases and personnel have been funded in whole or in part with federal entitlement dollars.