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FY15 Budget

Finance 

Overview

Under the direct supervision of the Chief Financial Officer, the Financial Planning unit consists of 5 bureaus: Corporate Accounting, Treasury, Accounts Payable/P-Card, Grants Management, and Management and Budgets. These comprehensive areas provide financial services needed by schools and employees, maintain the fiscal integrity of the organization, monitor and analyze budgetary activity, centralize and enhance grants management, and provide financial leadership to the Chicago Board of Education according to state and federal legislation, governmental regulations, Board policies, and sound financial practices.

Goals

  • Develop and implement new technological advancements toward financial leadership
  • Continue to lobby for additional state and federal funding to allow CPS to expand critical new programs without raising property taxes
  • Upgrade the bond rating with Moody's Investor Services, Standard & Poor's and Fitch
  • Provide continuous financial services needed by all CPS schools and employees
  • Maintain the fiscal integrity of the organization

Current initiatives

We are currently working on:

  • An Oracle-based software for Internal Accounts and Fixed Assets
  • A Student Stipend Debt Card program
  • The coordination of emergency plans and training programs
  • The continuation of the Children and Family Benefits Unit's work to increase enrollment applications
  • Research to expand the Poverty Count to include students in DCFS care, electronic payment and communication with vendors by using i-Supplier


Accomplishments

We have been awarded the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting since fiscal year 1995. The award is presented to government units whose Comprehensive Annual Financial Report (CAFR) achieves the highest standards in government and accounting and reporting. We also:

  • Received the GFOA Certificate of Achievement for Excellence in Financial Reporting since 2000 for the Popular Annual Financial Report (PAFR)
  • Provide online consolidated banking service to all CPS schools with a competitive interest rate and fees
  • Implemented earlier timeline and budget process to facilitate early teacher hiring
  • Coordinated the preparation and review of federal grant funded programs in advance of the U.S. Department of Education's Monitoring Visit. 

Resources

Please visit Corporate Accounting, Treasury, Management & Budget, and Grants Management & Administration for more information..

 

The following resources provide more information about the services we provide:

 

 

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Page Last Modified on Tuesday, April 17, 2012