Illinois General Assembly - Illinois Compiled Statutes

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105 ILCS 5/3-15.1

(105 ILCS 5/3-15.1) (from Ch. 122, par. 3-15.1)

Sec. 3-15.1.

Reports.

To require the appointed school treasurer in Class
II counties, in each school district which forms a part of a Class II
county school unit but which is not subject to the jurisdiction of the
trustees of schools of any township in which such district is located, and
in each school district of the Class I counties to prepare and forward to
his office on or before October 15, annually, and at such other times as
may be required by him or by the State Board of Education a statement
exhibiting the financial condition of the school for the preceding year
commencing on July 1 and ending June 30.

In Class I county school units, and in each school district which forms
a part of a Class II county school unit but which is not subject to the
jurisdiction of the trustees of schools of any township in
which such school district is located, the statement shall in the case of
districts on the accrual basis show the assets, liabilities and fund
balance of the funds as of the end of the fiscal year. The statement
shall show the operation of the funds for the fiscal year with a
reconciliation and analysis of changes in the funds at the end of the
period. For districts on a cash basis the statement shall show the
receipts and disbursements by funds including the source of receipts and
purpose for which the disbursements were made together with the balance
at the end of the fiscal year. Each school district that is the
administrator of a joint agreement shall cause an Annual Financial
Statement to be submitted on forms prescribed by the State Board of
Education exhibiting the financial condition of the program established
pursuant to the joint agreement, for the fiscal year ending on the
immediately preceding June 30.

The regional superintendent shall send all required reports to the
State Board of Education on or before November 15, annually.

For all districts the statements shall show bonded debt, tax
warrants, taxes received and receivable by funds and such other
information as may be required by the State Board of Education. Any
district from which such report is not so received when
required shall have its portion of the distributive fund withheld for
the next ensuing year until such report is filed.

If a district is divided by a county line or lines the foregoing
required statement shall be forwarded to the regional superintendent of
schools having supervision and control of the district.

(Source: P.A. 86-1441; 87-473.)