(105 ILCS 5/34A-408)
(from Ch. 122, par. 34A-408)
Financial and managerial audits.
(a) The Authority may examine the business records and audit the
accounts of the Board or require that the Board examine its business records
and audit its accounts at such time and in such manner as the Authority may
prescribe. The Board shall appoint a certified public accountant annually,
approved by the Authority, to audit its financial statements.
(b) The Authority shall initiate and direct financial and managerial
assessments and similar analyses of the operations of the
Chicago Board of Education, as may be required by this Section or as may, in
the judgment of the Authority, assure sound and efficient financial management
of the Board.
(c) On or before April 1, 1994, the Authority shall assure completion of
assessments and analyses that:
(1) Provide for a review of the managerial and
Upon the completion of these required assessments, the Authority shall make
recommendations to the Board regarding improvements and changes that derive
from these assessments, which the Board should implement.
In conjunction with its budgetary submission to the Authority for the fiscal
year that ends in 1995, the Board shall demonstrate to the
satisfaction of the Authority that the recommendations requested by the
Authority have been implemented in whole or in part or, in the alternative, are
not capable of being implemented. In consideration of whether to approve or
reject the budget for the fiscal year that ends in 1995, the Authority shall
adjudge whether the Board has fully considered and responsibly proposed
implementation of the Authority's recommendations.
(d) On or before April 1, 1995, the Authority shall adopt and submit a
report to the General Assembly, the Governor, and the Chicago Board of
Education that reflects a comprehensive assessment of the financial status of
the Chicago Board of Education. The report shall include an expenditure
analysis of all special education
programs provided by the Board, which shall include the number of programs
available and student participation, the dollar amount spent on each program,
the program location, the availability of transportation for students
participating in the programs, and related expenditure recommendations.
In addition, the
report shall also include a review of all attendance centers for efficiency
purposes, which shall include the total number of attendance centers in use,
their capacities, and the number of students currently enrolled in the
attendance centers, and the attendance center long range capital needs (repair
and maintenance) based upon current and estimated future enrollments. A study
shall also be included on teacher/student ratios.
(e) The Authority shall initiate and direct a management audit of
the Board at least once every 2 years. The audit shall review the personnel,
organization, contracts, leases, and physical properties of the Board to
determine whether the Board is managing and utilizing its resources in an
economical and efficient manner. The audit shall determine the causes of any
inefficiencies or uneconomical practices, including inadequacies in internal
and administrative procedures, organizational structure, uses of resources,
utilization of real property, allocation of personnel, purchasing policies, and
(Source: P.A. 88-511.)