Section 800.240  Budget

Not later than September 30 of each fiscal year, the Board shall adopt a budget for the period commencing July 1 and ending the following June 30. The budget shall set forth by appropriate designations the amount of money authorized to be expended by the Board for that designated category. The affirmative vote of 5 Board members shall be necessary for adoption of the budget. On and after April 1 of each fiscal year, the approved amount of any designated category may be amended by the affirmative vote of 6 Board members. Notwithstanding the adoption of a budget, the employment of additional personnel and approval of all vouchers must be by Board action. The Financial Officer of the Board shall submit a quarterly report to the Board members setting forth by designated categories the cumulative amount of expenditure for the fiscal year to date and the total amount budgeted for each category.

(Source:  Amended at 31 Ill. Reg. 1986, effective January 9, 2007)