Designed for use by teachers, school administrators, board members, legislators, and lay citizens, this report is intended to be a source document for obtaining a basic understanding of Illinois school finance. It explains the sources and amounts of funds available for pre-kindergarten through postsecondary programs administered by the Illinois State Board of Education. An introductory overview summarizes fiscal 1982 appropriations and gives data on school finances and enrollment from 1966 to 1982. Chapter one lists and briefly describes state education programs funded by the state common school fund as well as 37 categorically funded programs. Similar information for over 30 federally funded programs is presented in chapter two. Chapter three discusses 34 state laws affecting property taxes and school district accounting. In chapter four the authors review legislation on school management practices, including tax rate limitations, interfund transfers, and short- and long-term borrowing. The final chapter covers the activities of the Illinois Financial Accounting Committee, an advisory body established to help improve school district financial procedures. Six appendices provide a bibliography, a glossary, a sample state aid claim, and graphs on state aid to districts of varying wealth. (Author/RW)