97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB5577

 

Introduced 2/15/2012, by Rep. David Harris

 

SYNOPSIS AS INTRODUCED:
 
105 ILCS 5/8-5  from Ch. 122, par. 8-5

    Amends the School Code. Requires the township treasurer to establish and maintain any internal controls on accounts that are requested by the school board. Prohibits the township treasurer from receiving additional compensation for establishing and maintaining the internal controls requested by the school board. Effective immediately.


LRB097 19442 NHT 64695 b

 

 

A BILL FOR

 

HB5577LRB097 19442 NHT 64695 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
58-5 as follows:
 
6    (105 ILCS 5/8-5)  (from Ch. 122, par. 8-5)
7    Sec. 8-5. Books and accounts.
8    (a) The township treasurer shall be provided by the
9trustees of schools with a cash book, a loan book, a district
10account book, and a journal. In the cash book he shall enter in
11separate accounts all moneys received and paid out, with the
12amount, date, from whom, to whom and on what account received
13or paid out; or, if loaned, the date, to whom, and the amount.
14Moneys received shall be charged to debit account, and moneys
15paid out shall be credited as follows: First, to the principal
16of the township fund; second, to the interest of the township
17fund; third, to the common school fund and other funds; fourth,
18to the taxes received from the county or town collector, and
19for what districts received; fifth, donations; sixth, moneys
20coming from all other sources; in all cases entering the date
21when received, and when paid out.
22    In the loan book he shall enter a record of all school
23funds loaned, with the amount to whom, date, time, when due,

 

 

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1and the rate of interest, the interest paid, and a description
2of the securities.
3    In the district account book he shall post from the cash
4book all receipts and expenditures on account of any district,
5with the amount, date, from or to whom, and from what sources
6and for what purposes.
7    In the journal he shall record at length the acts and
8proceedings of the trustees of schools, their orders, by-laws
9and resolutions.
10    The township treasurer shall keep his accounts in the
11manner directed by the State Board of Education, the regional
12superintendent of schools or the trustees of schools; and they
13shall be subject at all times to the inspection of the
14trustees, the directors or school board members or other
15persons authorized by this Act or of any committee appointed by
16the voters of the township at the election of trustees to
17examine them. The township treasurer shall also establish and
18maintain any internal controls on accounts that are requested
19by the school board. The township treasurer may not receive
20additional compensation for establishing and maintaining the
21internal controls requested by the school board.
22    (b) Concurrently with the abolition of the offices of
23township treasurer and trustee of schools of a township as
24provided in subsection (c) of Section 5-1, the former township
25treasurer whose office has been so abolished shall surrender to
26the school treasurer of each school district served by that

 

 

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1township treasurer at the time that office is abolished the
2district account book theretofore maintained for that school
3district by the former township treasurer, and in addition
4shall surrender to the regional board of school trustees the
5cash books, loan books and journals referred to in subsection
6(a) of this Section 8-5; provided that the school board and
7school treasurer of each such school district, the State Board
8of Education, the regional superintendent and such other
9persons as may be authorized by law shall have the right, at
10all reasonable times, to inspect, and to copy or otherwise
11reproduce any portions of the cash books, loan books and
12journals surrendered by the former township treasurer to the
13regional board of school trustees as required by this
14subsection.
15(Source: P.A. 87-473.)
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.