Illinois General Assembly - Illinois Compiled Statutes (2024)


Illinois Compiled Statutes
ILCS ListingPublicActsSearchGuideDisclaimer

Information maintained by the LegislativeReference Bureau

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.Recent laws may not yet be included in the ILCS database, but they are found on this site as PublicActs soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to theGuide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changesmade to the current law.


105 ILCS 5/34A-404

(105 ILCS 5/34A-404) (from Ch. 122, par. 34A-404)
Sec. 34A-404. Budgets. The Board shall develop and adopt and submit tothe Authority on or before February 1, 1980, for approval by the Authority,a revised Budget for the remaining portion of the Fiscal Year ending in 1980and, thereafter, an annual Budget for each Fiscal Year. After adoptionby the Board, the Board shall submit each Budget to the Authority for itsapproval not later than 30 days prior to the commencement of theFiscalYear to which the Budget relates. The Authority shall approve or rejectthe Budget within 15 days of its receipt from the Board. No Budgetshallhave force or effect without approval of the Authority. Each Budget shallbe developed, submitted, approved and monitored in accordance withthe following procedures:
(a) Each Budget submitted by the Board shall be based

upon revenue estimates approved or prepared by the Authority, as provided in paragraph (a) of Section 34A-403 of this Article.

(b) Each Budget shall contain such information and

detail as may be prescribed by the Authority. The Authority may also prescribe any reasonable time, standards, procedures or forms for preparation and submission of the Budget. Any deficit for the Fiscal Year ending in 1981 and for any Fiscal Year thereafter shall be included as a current expense item for the succeeding Fiscal Year.

(c)(1) The Authority shall approve each Budget if, in

its judgment, the Budget is complete, is reasonably capable of being achieved, will meet the requirement set forth in Section 34A-402 of this Article, and will be consistent with the Financial Plan in effect. Otherwise, the Authority shall reject the Budget. In the event of rejection, the Authority may prescribe a procedure and standards for revision of the Budget by the Board.

(2) For any Fiscal Year, the Authority may approve a

provisional budget that, in its judgment, will satisfy the standards of subdivision (c)(1) of this Section if, notwithstanding the provisions of the Illinois Educational Labor Relations Act or any other law to the contrary, the amount appropriated therein for all spending for operations shall not at any time, on an annualized basis, exceed an Expenditure Limitation established by the Authority. The Authority may establish and enforce, including by exercise of its powers under Section 34A-409(b), such monitoring and control measures as it deems necessary to assure that the commitments, obligations, expenditures, and cash disbursements of the Board continue to conform on an ongoing basis with any Expenditure Limitation. No commitment, contract, or other obligation of the Board in excess of the Expenditure Limitation shall be legally binding, and any member of the Board or any local school council, or officer, employee or agent thereof, who violates the provisions of this Section shall be subject to the provisions of Sections 34-52 and 34A-608. An Expenditure Limitation established by the Authority shall remain in effect for that Fiscal Year or until revoked by the Authority.

(d) The Board shall report to the Authority at such

times and in such manner as the Authority may direct, concerning the Board's compliance with each Budget. The Authority may review the Board's operations, obtain budgetary data and financial statements, require the Board to produce reports, and have access to any other information in the possession of the Board that the Authority deems relevant. The Authority may issue recommendations or directives within its powers to the Board to assure compliance with the Budget. The Board shall produce such budgetary data, financial statements, reports and other information and comply with such directives.

(e) After approval of each Budget, the Board shall

promptly notify the Authority of any material change in the revenue or expenditure estimates in the Budget. The Board may submit to the Authority, or the Authority may require the Board to submit, a supplemental Budget. The Authority shall approve or reject each supplemental Budget pursuant to paragraph (c) of this Section.

(Source: P.A. 100-201, eff. 8-18-17.)


Illinois General Assembly - Illinois Compiled Statutes (2024)
Top Articles
Latest Posts
Recommended Articles
Article information

Author: Terrell Hackett

Last Updated:

Views: 5409

Rating: 4.1 / 5 (52 voted)

Reviews: 91% of readers found this page helpful

Author information

Name: Terrell Hackett

Birthday: 1992-03-17

Address: Suite 453 459 Gibson Squares, East Adriane, AK 71925-5692

Phone: +21811810803470

Job: Chief Representative

Hobby: Board games, Rock climbing, Ghost hunting, Origami, Kabaddi, Mushroom hunting, Gaming

Introduction: My name is Terrell Hackett, I am a gleaming, brainy, courageous, helpful, healthy, cooperative, graceful person who loves writing and wants to share my knowledge and understanding with you.