Section 525.160  Fiscal Procedures

a)         The Regional Superintendent of Schools in each Regional Office of Education and the Administrative Agent for the Chicago Intermediate Service Center shall maintain accurate financial records.  The financial records shall be maintained in accordance with 23 Ill. Adm. Code 110 (Program Accounting Manual) as applicable.  The State Board of Education and its agents shall have full and complete access at all times during regular business hours to files, records and all other property maintained by the Regional Superintendent of Schools or Administrative Agent for programs and services provided pursuant to Section 525.110 of this Part.

b)         All purchases exceeding the amount specified in Section 10-20.21 of the School Code [105 ILCS 5/10-20.21] must be bid in accordance with that Section.

c)         The Regional Superintendent of Schools and the Administrative Agent of the Chicago Intermediate Service Center shall maintain an inventory of equipment (using forms to be provided by the State Board of Education) acquired with funds received directly from the State of Illinois.

d)         The Regional Superintendent of Schools in each Regional Office of Education and the Governing Board of the Chicago Intermediate Service Center shall establish travel regulations.  The travel regulations shall include reimbursement rates, designation of reimbursable items, and other conditions deemed necessary.

e)         Registration fees for conferences/workshops are to be determined on a cost-recovery basis, in accordance with 23 Ill. Adm. Code 110.115(f).

f)          A maximum daily rate for consultants shall be established by the Regional Superintendents of Schools and the Governing Board of the Chicago Intermediate Service Center.  The maximum daily rate for individual programs cannot exceed the rate the State Board of Education establishes in the annual application.

g)         All unexpended or unobligated funds held by the Regional Office of Education or Chicago Intermediate Service Center at the end of each funding period shall be returned within 45 days to the State Board of Education.

h)         The Regional Superintendent, or the Administrative Agent to the Chicago Intermediate Service Center Governing Board, shall provide on a regular basis such fiscal and programmatic information (e.g., expenditures, revenues, contracts, staffing) as is necessary for the Advisory Board or Governing Board to perform its duties.

(Source:  Amended at 21 Ill. Reg. 2172, effective January 29, 1997)