Section 110.115   Regional Offices of Education

This Section specifies the rules needed to implement the requirements of Section 2-3.17a, 2-3.62, 3-12, 3A-16, and 3A-17 of the School Code [105 ILCS 5/2-3.17a, 2-3.62, 3-12, 3A-16, and 3A-17].

a)         "Books and records" as used in this Section means all financial statements, fiscal documents, vouchers for distributions, records of cash receipts, records of obligation and expenditure of funds, records of accounts and funds, journals, ledgers and subsidiary records thereof, computer programs and data files integral to records of such funds and accounts as are in the care, custody or control of the regional superintendent of schools, and as are required for the purpose of enabling the State Board of Education to perform the audits required by Section 2-3.17a of the School Code and for the review, approval and reporting requirements of Sections 2-3.62, 3-12, 3A-16, and 3A-17 of the School Code.  The Regional Office of Education shall maintain records in accordance with this Part as applicable.  Financial records shall be maintained on either a cash or accrual basis of accounting.  However, supporting information must be maintained to allow preparation of an accrual statement as required in subsection (b) below.

b)         For audit purposes each regional office of education shall make available to the State Board of Education or its agent all books and records during regular business hours on such days in each fiscal year as the State Board of Education or its designated agents shall deem necessary to make and complete the required audits.  Such records shall be completed in auditable form by August 15 of the succeeding fiscal year. Financial reports are to be available no later than August 31 in order that the annual audit may be done by an independent auditor as selected by the State Board of Education.  Annual Financial Statements are to be prepared on an accrual basis of accounting on forms prescribed by the State Board of Education no later than November 15.  For reasonable cause, extensions may be granted by the State Board of Education.

c)         Each regional office of education shall make available the books and records necessary to make the required audit by providing to the State Board of Education or its agent full, complete and unrestricted access to such books and records and to such person or persons who may have prepared, reviewed, reported on or otherwise have knowledge of them.

d)         Each regional office of education shall retain all books and records for a period of five years or until each required audit is resolved. This provision shall not be construed to shorten any record retention requirement otherwise applicable to such records.

e)         A presentation of the annual audit will be given to the Regional Office of Education Oversight Board at the next regularly scheduled meeting following completion of the audit.

f)          Fees for conferences, workshops, materials and other costs charged for discretionary activities not required by law or rule are to be determined on a cost-recovery basis.  Excess funds resulting from registrations or requests for materials/services beyond the anticipated cost-recovery basis shall be deposited in an enterprise fund to be used solely to reduce the cost of similar items or to cover costs incurred due to less-than-anticipated registrations or requests for materials/services.

(Source:  Amended at 18 Ill. Reg. 17443, effective November 28, 1994)