(70 ILCS 1105/20)
(from Ch. 85, par. 6820)
Fiscal year and appropriation ordinances.
(a) The board
shall fix a fiscal year for the district. The board shall,
within or before the first quarter of each fiscal year, adopt an annual
appropriation ordinance appropriating the sums of money that will be required
to defray all necessary expenses and liabilities of the district to be paid
or incurred during the fiscal year.
(b) The failure of the board to adopt an annual appropriation ordinance
or to otherwise comply with the provisions of this Section shall not affect
the validity of any tax levy of the district. The annual appropriation
ordinance for any fiscal year need not be intended or required to be in
support of or in relation to any tax levy made during that fiscal year.
(c) A district that determines to change its fiscal
year may adopt an appropriation ordinance for a transition period of
more or less than 12 months as may be necessary to effect the change.
Appropriations made for the transition period shall end with the
close of the transition period.
(Source: P.A. 86-477.)