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91_HB1291enr HB1291 Enrolled LRB9104133NTsb 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 such fiscal year from all 19 sources, an estimate of the expenditures contemplated for 20 such fiscal year, and a statement of the estimated cash 21 expected to be on hand at the end of such year. The estimate 22 of taxes to be received may be based upon the amount of 23 actual cash receipts that may reasonably be expected by the 24 district during such fiscal year, estimated from the 25 experience of the district in prior years and with due regard 26 for other circumstances that may substantially affect such 27 receipts. Nothing in this Section shall be construed as 28 requiring any district to change or preventing any district 29 from changing from a cash basis of financing to a surplus or 30 deficit basis of financing; or as requiring any district to 31 change or preventing any district from changing its system of HB1291 Enrolled -2- LRB9104133NTsb 1 accounting. 2 The board of education of each district shall fix a 3 fiscal year therefor. If the beginning of the fiscal year of 4 a district is subsequent to the time that the tax levy due to 5 be made inforsuch fiscal year shall be made, then such 6 annual budget shall be adopted prior to the time such tax 7 levy shall be made. The failure by a board of education of 8 any district to adopt an annual budget, or to comply in any 9 respect with the provisions of this Section, shall not affect 10 the validity of any tax levy of the district otherwise in 11 conformity with the law. With respect to taxes levied either 12 before, on, or after the effective date of this amendatory 13 Act of the 91st General Assembly, (i) a tax levy is made for 14 the fiscal year in which the levy is due to be made 15 regardless of which fiscal year the proceeds of the levy are 16 expended or are intended to be expended, and (ii) except as 17 otherwise provided by law, a board of education's adoption of 18 an annual budget in conformity with this Section is not a 19 prerequisite to the adoption of a valid tax levy and is not a 20 limit on the amount of the levy. 21 Such budget shall be prepared in tentative form by some 22 person or persons designated by the board, and in such 23 tentative form shall be made conveniently available to public 24 inspection for at least 30 days prior to final action 25 thereon. At least 1 public hearing shall be held as to such 26 budget prior to final action thereon. Notice of availability 27 for public inspection and of such public hearing shall be 28 given by publication in a newspaper published in such 29 district, at least 30 days prior to the time of such hearing. 30 If there is no newspaper published in such district, notice 31 of such public hearing shall be given by posting notices 32 thereof in 5 of the most public places in such district. It 33 shall be the duty of the secretary of such board to make such 34 tentative budget available to public inspection, and to HB1291 Enrolled -3- LRB9104133NTsb 1 arrange for such public hearing. The board may from time to 2 time make transfers between the various items in any fund not 3 exceeding in the aggregate 10% of the total of such fund as 4 set forth in the budget. The board may from time to time 5 amend such budget by the same procedure as is herein provided 6 for its original adoption. 7 Beginning July 1, 1976, the board of education, or 8 regional superintendent, or governing board responsible for 9 the administration of a joint agreement shall, by September 1 10 of each fiscal year thereafter, adopt an annual budget for 11 the joint agreement in the same manner and subject to the 12 same requirements as are provided in this Section. 13 The State Board of Education shall exercise powers and 14 duties relating to budgets as provided in Section 2--3.27 of 15 this Act. 16 By fiscal year 1982 all school districts shall use the 17 Program Budget Accounting System. 18 In the case of a school district receiving emergency 19 State financial assistance under Article 1B, the school board 20 shall also be subject to the requirements established under 21 Article 1B with respect to the annual budget. 22 (Source: P.A. 86-954.) 23 Section 99. Effective date. This Act takes effect upon 24 becoming law.