The Department shall have the following powers and duties:
         (1) To require such reports from local governments as
    
will enable it adequately to provide the technical and advisory assistance authorized by this Act and to perform the regulatory functions required by the Act. The reports shall provide the necessary information for a complete file on local government debt, which shall be kept open for public inspection at the Department office.
        (2) To encourage, conduct or participate in training
    
courses in debt and general fiscal management and procedures and practices for the benefit of local officials, and in connection therewith, to cooperate with associations of public officials, business and professional organizations, university faculties, or other specialists.
        (3) To conduct studies in debt management, including
    
ways and means of appraising the terms of alternative bids. The Department may employ expert consultants to assist in such studies.
        (4) To employ or contract for the services of
    
personnel necessary to carry out the provisions of this Act, subject to the provisions of the Personnel Code.
        (5) All departments, divisions, boards, bureaus,
    
commissions, or other agencies of the State government shall provide such assistance and information as, not inconsistent with law, the Department may require to enable it to carry out its duties under this Act.
        (6) To compile and publish annually a report on its
    
technical assistance and advisory activities. Such report shall include detailed information on local government long-term debt issued and retired during the previous fiscal year and outstanding at the close of the previous fiscal year, and such additional statistical data on local government finances that are obtained by the Department pursuant to paragraph (1) of this Section.
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Terms Used In Illinois Compiled Statutes 30 ILCS 375/6

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
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