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Annual Reports

North Shore School District 112 is committed to open and transparent reporting of financial information. 

Below are links to reports that provide detailed information about the district’s finances.  View each report by clicking on the report title. District budget information can be found on the Budget Information page. 

Annual Financial Reports

North Shore School District 112, along with all other Illinois school districts, must file an annual financial statement of actual audited financial results for the fiscal year. This report is prepared and submitted on a prescribed state form. The reports below contain an audited Annual Financial Statement of actual financial results, prepared on the modified accrual basis of accounting. 

Comprehensive Annual Financial Report

North Shore School District 112 participates in the Association of School Business Official's International Certificate of Excellence in Financial Reporting Award and the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting. Only a select number of Illinois school districts participate and receive both of these awards. By participating, the District provides more extensive financial reporting information than is normally required of school districts.

Statement of Affairs (105 ILCS 5/10-17)

The Annual Statement of Affairs complies with state reporting requirements regarding employee compensation and payments to vendors. The Annual Statement of Affairs is a financial report that all school districts are required to complete and publish in the local newspaper no later than December 1st annually. The school district must also submit the Annual Statement of Affairs report to the Illinois State Board of Education before December 15th.

Administrator and Teacher Salary & Benefits Report (105 ILCS 5/34-18.37 and 105 ILCS 5/10-20.46)

This legislation requires every school district to create a report for all administrators' base salary and benefits, including superintendents and certified teachers. This report must be posted on the school district's website by October 1st annually and be presented at a Board of Education meeting. The report must include, without limitation, base salary, bonuses, pension contributions, retirement increases, the cost of health insurance, the cost of life insurance, paid sick and vacation days payouts, annuities, and any other form of compensation or income paid on behalf of each administrator.

Non-Certified Salary & Benefits Report (Public Act 97-0609)

This legislation requires every school district to create a report for the base salary and benefits of all Illinois Municipal Retirement Fund (IMRF) employees receiving a total compensation package that exceeds $75,000 annually. If the school district maintains a website, the school district must post this information on the website within 6 days of approving an annual budget. For this report, "benefits" include, without limitation, vacation days, sick days, bonuses, annuities, and retirement enhancements.