Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

105 ILCS 5/8-6

(105 ILCS 5/8-6) (from Ch. 122, par. 8-6)

Sec. 8-6.

Custody
of school funds.

The school treasurer shall have custody of the school funds and shall
keep in a cash book separate cash balances. In the cash book he shall enter in
separate accounts the balance, total of all moneys received in each fund,
and the total of the orders countersigned or checks signed with respect to each fund and extend the balances and the aggregate cash balance for all funds
balance at least monthly. The treasurer shall reconcile such balances with the
accounting or bookkeeping department of the district in conformity with a template provided by the State Board of Education monthly. School districts on the financial watch or warning list that are required to submit deficit reduction plans in accordance with Section 17-1 of this Code or that are certified in financial difficulty in accordance with Section 1-A8 of this Code must transmit the cash balances as required pursuant to this Section 8-6 of this Code to the State Board of Education quarterly from the treasurer.

(Source: P.A. 97-429, eff. 8-16-11.)