Illinois Compiled Statutes 745 ILCS 10/9-106 – A local public entity that derives revenue for its maintenance and …
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Terms Used In Illinois Compiled Statutes 745 ILCS 10/9-106
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
A local public entity that derives revenue for its maintenance and operation from rates and charges made for services or facilities it provides shall in each fiscal year make rates and charges or both, or otherwise provide funds, in an amount sufficient to pay all its tort judgments and settlements in accordance with this Article and its obligations under the Workers’ Compensation Act, the Workers’ Occupational Diseases Act and the Unemployment Insurance Act.