Illinois Compiled Statutes 105 ILCS 5/1H-60 – Financial, management, and budgetary structure
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Terms Used In Illinois Compiled Statutes 105 ILCS 5/1H-60
- District: means any school district having a population of not more than 500,000 that has had a Financial Oversight Panel established under this Article. See Illinois Compiled Statutes 105 ILCS 5/1H-10
- Panel: means a Financial Oversight Panel created under this Article. See Illinois Compiled Statutes 105 ILCS 5/1H-10
- State Board: means the State Board of Education. See Illinois Compiled Statutes 105 ILCS 5/1H-10
Upon direction of the Panel, the district shall reorganize the financial accounts, management, and budgetary systems of the district in a manner consistent with rules adopted by the State Board regarding accounting, budgeting, financial reporting, and auditing as the Panel deems appropriate to remedy the conditions that led the Panel to be created and to achieve greater financial responsibility and to reduce financial inefficiency.