Other Financial Information
105 ILCS 5/10-20.47
In accordance with 105 ILCS 5/10-20.47, each school district must report to the Illinois State Board of Education, on or before October 1 of each year, the base salary and benefits of all administrators and teachers employed by the district. The information on administrators and teachers include: position, title salary, vacation days, sick days, bonuses, annuities, retirement enhancements and other benefits. Salary information reported includes all payments for duties performed during the school year.
At its meeting in September, this salary information was presented to the Board of Education and then posted on the school district's website and submitted to the Illinois State Board of Education.
5 ILCS 120/7.3
In accordance with 5 ILCS 120/7.3, each school district must post on their website the "total compensation package" for employees who receive a compensation package that exceeds $75,000 per year. 5 ILCS 120/7.3 defines "total compensation package" as the employee's salary, health insurance, housing allowance, vehicle allowance, clothing allowance, bonuses, loans, vacation days granted and sick days granted. This information is required to be posted within 6 business days after an employer participating in the Illinois Municipal Retirement Fund approves the budget.