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90_HB2575
105 ILCS 5/17-1 from Ch. 122, par. 17-1
Amends the School Code. Requires the annual budget of
school districts with a population under 500,000 to be
prepared before the first quarter of each fiscal year, and
requires the annual budget to show estimated cash receipts
and expenditures by each quarter of the fiscal year.
Effective immediately.
LRB9009071NTsb
LRB9009071NTsb
1 AN ACT to amend the School Code by changing Section 17-1.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The School Code is amended by changing
5 Section 17-1 as follows:
6 (105 ILCS 5/17-1) (from Ch. 122, par. 17-1)
7 Sec. 17-1. Annual Budget. The board of education of each
8 school district under 500,000 inhabitants shall, within or
9 before the first quarter of each fiscal year, adopt an annual
10 budget which it deems necessary to defray all necessary
11 expenses and liabilities of the district, and in such annual
12 budget shall specify the objects and purposes of each item
13 and amount needed for each object or purpose.
14 The budget shall be entered upon a School District Budget
15 form prepared and provided by the State Board of Education
16 and therein shall contain a statement of the cash on hand at
17 the beginning of the fiscal year, an estimate of the cash
18 expected to be received during each quarter of such fiscal
19 year from all sources, an estimate of the expenditures
20 contemplated for each quarter of such fiscal year, and a
21 statement of the estimated cash expected to be on hand at the
22 end of such year. The estimate of taxes to be received each
23 quarter may be based upon the amount of actual cash receipts
24 that may reasonably be expected by the district during each
25 quarter of such fiscal year, estimated from the experience of
26 the district in prior years and with due regard for other
27 circumstances that may substantially affect such receipts.
28 Nothing in this section shall be construed as requiring any
29 district to change or preventing any district from changing
30 from a cash basis of financing to a surplus or deficit basis
31 of financing; or as requiring any district to change or
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1 preventing any district from changing its system of
2 accounting.
3 The board of education of each district shall fix a
4 fiscal year therefor. If the beginning of the fiscal year of
5 a district is subsequent to the time that the tax levy for
6 such fiscal year shall be made, then such annual budget shall
7 be adopted prior to the time such tax levy shall be made.
8 Such budget shall be prepared in tentative form by some
9 person or persons designated by the board, and in such
10 tentative form shall be made conveniently available to public
11 inspection for at least 30 days prior to final action
12 thereon. At least 1 public hearing shall be held as to such
13 budget prior to final action thereon. Notice of availability
14 for public inspection and of such public hearing shall be
15 given by publication in a newspaper published in such
16 district, at least 30 days prior to the time of such hearing.
17 If there is no newspaper published in such district, notice
18 of such public hearing shall be given by posting notices
19 thereof in 5 of the most public places in such district. It
20 shall be the duty of the secretary of such board to make such
21 tentative budget available to public inspection, and to
22 arrange for such public hearing. The board may from time to
23 time make transfers between the various items in any fund not
24 exceeding in the aggregate 10% of the total of such fund as
25 set forth in the budget. The board may from time to time
26 amend such budget by the same procedure as is herein provided
27 for its original adoption.
28 Beginning July 1, 1976, the board of education, or
29 regional superintendent, or governing board responsible for
30 the administration of a joint agreement shall, by September 1
31 of each fiscal year thereafter, adopt an annual budget for
32 the joint agreement in the same manner and subject to the
33 same requirements as are provided in this section.
34 The State Board of Education shall exercise powers and
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1 duties relating to budgets as provided in Section 2--3.27 of
2 this Act.
3 By fiscal year 1982 all school districts shall use the
4 Program Budget Accounting System.
5 In the case of a school district receiving emergency
6 State financial assistance under Article 1B, the school board
7 shall also be subject to the requirements established under
8 Article 1B with respect to the annual budget.
9 (Source: P.A. 86-954.)
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.