(45 ILCS 35/70)
(from Ch. 85, par. 6248-70)
Budget and appropriation.
(a) Annually, the board shall prepare and adopt a budget and provide
appropriations as provided in this Section.
(b) The budget shall show (i) the amount required for each class of
proposed expenditures, (ii) a comparison of the amounts proposed to be expended
with the amounts expended for like purposes for the 2 preceding years, if
available, and (iii) the sources of revenue.
(c) Not less than 20 days before the date that a budget must be
certified as determined by the board and not less than 10 days before the
date set for the hearing under subsection (d), the board shall file the
budget with the treasurer of the Authority. The treasurer shall post a
copy of the budget in the Authority offices for public inspection and comment.
(d) The board shall set a time and place for a public hearing on the
budget before the final certification date and shall publish notice of the
hearing not less than 10 nor more than 20 days before the hearing in one
or more newspapers serving the greater metropolitan area. Proof of
publication shall be filed with and preserved by the treasurer.
(e) At the hearing, any resident or taxpayer of the greater metropolitan
area may present to the board objections to or arguments in favor of any
part of the budget.
(f) After the hearing, the board shall adopt a budget by resolution
shall direct the treasurer to properly certify and file the budget.
(g) The board shall appropriate, by resolution, the amounts deemed
necessary for the ensuing fiscal year. All revenue from taxes, fees,
tolls, rents, charges, bonds, or any other source shall be appropriated
and used for the specific metropolitan facility project for which it
was collected or similar metropolitan facility projects. Increases or
decreases in these appropriations do not
require a budget amendment, but may be provided by resolution at a
regular meeting of the board.
(Source: P.A. 87-622.)