ISBE Addresses Evidence-Based Funding Audit Finding

Lawndale News Chicago's Bilingual Newspaper - Education

The Illinois State Board of Education (ISBE) announced its plan to address the one finding from the independent audit of the Evidence-Based Funding (EBF) formula. ISBE contracted an independent audit firm to conduct a comprehensive review of the EBF formula calculations and implementation after the agency identified an enrollment coding error last year. The independent audit viewed over 200 data sources, tested over 39,000 data inputs, and performed over 50,000 recalculations – and found no calculation errors. The audit firm issued one finding in its final report regarding implementation of a statutorily required update to the Comparable Wage Index (CWI) component of the formula. ISBE will conduct an expedited procurement to contract with an independent, external entity to determine if any wage indices exist with similar methodologies to the CWI, as required by statute, and to conduct modeling of the potential financial impact to school districts. ISBE aims to have the work completed this spring.

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