(110 ILCS 805/2-15)
(from Ch. 122, par. 102-15)
The State Board shall grant recognition to
community colleges which
maintain equipment, courses of study, standards of scholarship and other
requirements set by the State Board. Application for recognition shall be
made to the State Board. The State Board shall set the criteria by which
the community colleges shall be judged and through the executive officer of
the State Board shall arrange for an official evaluation of the community
colleges and shall grant recognition of such community colleges as may meet
the required standards.
If a community college district fails to meet the recognition standards
set by the State Board, and if the district, in accordance with: (a) Government
Auditing Standards issued by the
Comptroller General of the United States, (b) auditing standards established by
the American Institute of Certified Public Accountants, or (c) other applicable
State and federal standards, is found by the district's auditor or the State
Board working in cooperation with the district's auditor to have material
deficiencies in the
design or operation of financial control structures that
could adversely affect the district's financial integrity and stability, or is
found to have misused State or federal funds and jeopardized
its participation in State or federal programs, the State Board may,
notwithstanding any laws to the contrary, implement one or more of the
following emergency powers:
(1) To direct the district to develop and implement a plan that addresses
the budgetary, programmatic, and other relevant factors contributing to the
need to implement emergency measures. The State Board shall assist in the
development and shall have final approval of the plan.
(2) To direct the district to contract for educational services in
accordance with Section 3-40. The State Board shall assist in the development
and shall have final approval of any such contractual agreements.
(3) To approve and require revisions of the district's budget.
(4) To appoint a Financial Administrator to exercise oversight and control
over the district's budget. The Financial Administrator shall serve at the
pleasure of the State Board and may be an individual, partnership, corporation,
including an accounting firm, or other entity determined by the State Board to
be qualified to serve, and shall be entitled to compensation. Such
compensation shall be provided through specific appropriations made to the
State Board for that express purpose.
(5) To develop and implement a plan providing for the dissolution or
reorganization of the district if in the judgement of the State Board the
circumstances so require.
(Source: P.A. 89-147, eff. 7-14-95.)