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| 1 | AN ACT concerning education.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The School Code is amended by changing Section | |||||||||||||||||||
| 5 | 8-5 as follows:
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| 6 | (105 ILCS 5/8-5) (from Ch. 122, par. 8-5)
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| 7 | Sec. 8-5. Books and accounts.
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| 8 | (a) The township treasurer shall be provided by the | |||||||||||||||||||
| 9 | trustees of schools
with a cash book, a loan book, a district | |||||||||||||||||||
| 10 | account book, and a journal.
In the cash book he shall enter in | |||||||||||||||||||
| 11 | separate accounts all moneys received
and paid out, with the | |||||||||||||||||||
| 12 | amount, date, from whom, to whom and on what
account received | |||||||||||||||||||
| 13 | or paid out; or, if loaned, the date, to whom, and the
amount. | |||||||||||||||||||
| 14 | Moneys received shall be charged to debit account, and moneys
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| 15 | paid out shall be credited as follows: First, to the principal | |||||||||||||||||||
| 16 | of the
township fund; second, to the interest of the township | |||||||||||||||||||
| 17 | fund; third, to
the common school fund and other funds; fourth, | |||||||||||||||||||
| 18 | to the taxes received
from the county or town collector, and | |||||||||||||||||||
| 19 | for what districts received;
fifth, donations; sixth, moneys | |||||||||||||||||||
| 20 | coming from all other sources; in all
cases entering the date | |||||||||||||||||||
| 21 | when received, and when paid out.
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| 22 | In the loan book he shall enter a record of all school | |||||||||||||||||||
| 23 | funds loaned,
with the amount to whom, date, time, when due, | |||||||||||||||||||
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| 1 | and the rate of interest,
the interest paid, and a description | ||||||
| 2 | of the securities.
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| 3 | In the district account book he shall post from the cash | ||||||
| 4 | book all
receipts and expenditures on account of any district, | ||||||
| 5 | with the amount,
date, from or to whom, and from what sources | ||||||
| 6 | and for what purposes.
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| 7 | In the journal he shall record at length the acts and | ||||||
| 8 | proceedings of
the trustees of schools, their orders, by-laws | ||||||
| 9 | and resolutions.
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| 10 | The township treasurer shall keep his accounts in the | ||||||
| 11 | manner directed
by the State Board of Education, the regional | ||||||
| 12 | superintendent
of schools or the trustees of schools; and they | ||||||
| 13 | shall be subject at all
times to the inspection of the | ||||||
| 14 | trustees, the directors or school board
members or other | ||||||
| 15 | persons authorized by this Act or of any committee
appointed by | ||||||
| 16 | the voters of the township at the election of
trustees to | ||||||
| 17 | examine them. The township treasurer shall also establish and | ||||||
| 18 | maintain any internal controls on accounts that are requested | ||||||
| 19 | by the school board. The township treasurer may not receive | ||||||
| 20 | additional compensation for establishing and maintaining the | ||||||
| 21 | internal controls requested by the school board.
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| 22 | (b) Concurrently with the abolition of the offices of | ||||||
| 23 | township
treasurer and trustee of schools of a township as | ||||||
| 24 | provided in subsection
(c) of Section 5-1, the former township | ||||||
| 25 | treasurer whose office has been so
abolished shall surrender to | ||||||
| 26 | the school treasurer of each school district
served by that | ||||||
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| 1 | township treasurer at the time that office is abolished the
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| 2 | district account book theretofore maintained for that school | ||||||
| 3 | district by
the former township treasurer, and in addition | ||||||
| 4 | shall surrender to the
regional board of school trustees the | ||||||
| 5 | cash books, loan books and journals
referred to in subsection | ||||||
| 6 | (a) of this Section 8-5; provided that the school
board and | ||||||
| 7 | school treasurer of each such school district, the State Board | ||||||
| 8 | of
Education, the regional superintendent and such other | ||||||
| 9 | persons as may be
authorized by law shall have the right, at | ||||||
| 10 | all reasonable times, to
inspect, and to copy or otherwise | ||||||
| 11 | reproduce any portions of the cash books,
loan books and | ||||||
| 12 | journals surrendered by the former township treasurer to the
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| 13 | regional board of school trustees as required by this | ||||||
| 14 | subsection.
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| 15 | (Source: P.A. 87-473.)
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| 16 | Section 99. Effective date. This Act takes effect upon | ||||||
| 17 | becoming law.
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