The McHenry School District 15's budget is developed annually and is designed to meet the requirements of local, state, and federal government regulations. The budget, which is adopted by the board of education, outlines the plan for accomplishing the district's fiscal goals each year. The Chief School Business Official develops the tentative budget which contains anticipated revenues and expenditures as well as a statement of estimated cash expected to be on hand at the beginning and end of the fiscal year. The tentative budget is placed on display 30 days prior to a public budget hearing. During the hearing, details of the tentative budget are explained and the public may ask questions or provide input. The budget is then voted on and adopted (or rejected) by the board of education at a public board meeting held after the budget hearing. Illinois law requires that the budget be adopted by the board of education prior to the end of the first quarter of the fiscal year (September 30).