Section 1060.10  Purpose

 

The State Finance Act requires that transfers among appropriations made to the University of Illinois, Southern Illinois University, Chicago State University, Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Northern Illinois University, Western Illinois University, the Illinois Mathematics and Science Academy and the Board of Higher Education require the approval of the Board of Higher Education and the Governor [30 ILCS 105/13.2(d)].  This Part implements the Board's responsibility to approve such transfers.

 

(Source:  Amended at 31 Ill. Reg. 12580, effective August 16, 2007)

 

Section 1060.15  Definitions

 

"Board" means the Board of Higher Education.

 

"Governing Board" means the Board of Trustees of the University of Illinois, the Board of Trustees of Southern Illinois University, the Board of Trustees of Chicago State University, the Board of Trustees of Eastern Illinois University, the Board of Trustees of Governors State University, the Board of Trustees of Illinois State University, the Board of Trustees of Northeastern Illinois University, the Board of Trustees of Northern Illinois University, the Board of Trustees of Western Illinois University or the Board of Trustees of the Illinois Mathematics and Science Academy.

 

(Source:  Added at 31 Ill. Reg. 12580, effective August 16, 2007)

 

Section 1060.20  Criteria for Approval

 

The following criteria will form the basis for Board approval of transfers among line item appropriations:

 

a)         Sufficient funds must be available to cover the amount of the transfer.

 

b)         Transfer requests must have governing board approval. 

 

c)         A rationale for the transfer must be provided.  Transfers will be approved if the requirements of the State Finance Act [30 ILCS 105/13.2] are met.

 

(Source:  Amended at 31 Ill. Reg. 12580, effective August 16, 2007)