(70 ILCS 2605/5.2)
(from Ch. 42, par. 324L)
Where used in this law, "budget year" shall mean the fiscal year
for which a budget is made. "Current year" shall mean the fiscal year in
progress, i.e., the fiscal year next preceding the budget year. "Preceding
year" shall mean the fiscal year preceding the current year.
The "Clerk" shall mean that officer so designated as provided in Section 4.
"Fund" shall mean a sum of money or other resources set aside for the
purpose of carrying on specific activities or attaining certain objectives
in accordance with special regulations, restrictions, or limitations. A
fund shall be a distinct financial or fiscal entity.
"Accountant" shall mean a public accountant or certified public
accountant licensed under the laws of this State.
"Expenditure" shall mean the amount of obligations incurred either
paid or to be paid from the appropriations for the budget year for all
purposes, including current expenses, retirement of debt, and capital outlays.
"Disbursement" shall mean the actual payment in cash for any purpose.
"Receipt" shall mean cash actually received and shall include
appropriable cash on hand at the beginning of any specified year.
"Estimated receipt" shall mean cash estimated to be received within
the budget year and shall include the cash surplus estimated to be
appropriable at the beginning of the budget year.
"Cash basis" shall mean that system of accounting wherein revenues
are accounted for when received in cash and expenditures are accounted
for when paid.
"Accrual basis" shall mean that system of accounting wherein revenues
are accounted for when earned or due, even though not collected, and
expenditures are accounted for as soon as liabilities are incurred,
whether paid or not.
"Function" (activity) of expenditure shall mean the particular
purpose or group of services aimed at accomplishing a certain end for
which an expenditure is made.
"Line Item" or item shall mean a particular type of expenditure
within a class or related group of such expenditures, i. e., testing
service, hospital service, towel and laundry service, within the class
titled "Impersonal Services."
"Object" of expenditure shall mean specific articles, or classes of
things for which an expenditure is made, i. e., personal services,
impersonal services, materials and supplies, machinery and equipment,
fixed charges and any such other classes of articles or things as may be
"Character" of expenditure shall refer to the relationship of total
expenditures to current, prior, and future fiscal periods, i. e.,
whether the expenditure is a current expense, provision for the
retirement of debt, or a capital outlay.
"Organization units" shall be the administrative units of the
district, i. e., departments, major sewage treatment plants, and such
other operating units or groups of operating units as may be deemed
desirable by the authorities of the Sanitary District.
The "committee on finance" shall be any
committee so appointed and so designated by the board of commissioners for
the purpose of considering financial matters affecting the district.
"Sinking Fund Requirements" shall mean the amounts that will be
needed to pay interest on and principal of bonds.
"Construction Fund" shall mean the amounts to be used for paying the
costs incurred for construction purposes.
"Construction Purposes" shall mean the replacement, remodeling,
completion, alteration, construction, and enlargement, including
alterations, enlargements and replacements which will add appreciably to
the value, utility, or the useful life of sewage treatment works, administrative buildings, flood
control facilities, or water quality improvement projects, and
additions therefor, pumping stations, tunnels, conduits and intercepting
sewers connecting therewith, and outlet sewers together with the
equipment and appurtenances necessary thereto, and for the acquisition
of the sites and rights of way necessary thereto, and for engineering
expenses for designing and supervising the construction of the works
above described, and for removal of the rock ledge in the bed of the Des
Plaines River (Illinois Waterway) through the City of Joliet.
Prior to the commencing of work involved in the removal of the rock ledge
in the bed of the Des Plaines River formal approval shall be obtained for
the design and plans for accomplishing this work from the Corps of Engineers,
U. S. Army, and the State of Illinois Department of Natural Resources.
The Metropolitan Sanitary District of Greater Chicago, its agents, successors
or assigns shall save the State of Illinois harmless from any and all claims
of whatever nature which may arise as a result of or in consequence of any
work which may be performed by the District.
The rights, powers, and authorities granted in this Act shall be subject
to the provisions of Section 18 of the Rivers, Lakes, and Streams Act.
It is the intent and purpose of this Act to provide a legal basis which
will authorize and require all Sanitary Districts organized under the
provisions hereof to make and execute the budgets of their Corporate Funds
and Construction Funds in such manner that the budgets may be planned and
balanced with receipts on an actual cash basis and expenditures on an
accrual basis, and all definitions, terms, provisions and procedures set
forth in this Act shall be thus construed as applied to corporate funds and
(Source: P.A. 97-367, eff. 8-15-11.)