Illinois Compiled Statutes 105 ILCS 5/34-45 – Budget appropriations
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The budget shall specify:
1. the several organization units, purposes, and
1. the several organization units, purposes, and
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objects for which appropriations are made;
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2. the amount appropriated for each organization
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unit, purpose or object; and
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3. the fund from or to which each amount
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appropriated is to be paid or charged.
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The budget shall include appropriations for:
1. all estimated current expenditures or charges to
Terms Used In Illinois Compiled Statutes 105 ILCS 5/34-45
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
1. all estimated current expenditures or charges to
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be made or incurred during such fiscal year, including interest to accrue on anticipation tax warrants and temporary loans;
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2. all final judgments, including accrued interest
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thereon, entered against the board and unpaid at the beginning of such fiscal year;
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3. any amount for which the board is required to
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reimburse the working cash fund from the educational purposes fund pursuant to Sections 34-30 through 34-36; and
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4. all other estimated liabilities, including the
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principal of all tax anticipation warrants and all temporary loans and all accrued interest thereon, incurred during prior years and unpaid at the beginning of such fiscal year.
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