Sen. Jennifer Bertino-Tarrant
Filed: 5/29/2018
 
 

 

 

 
10000SB3190sam005LRB100 19841 AXK 41022 a



1
AMENDMENT TO SENATE BILL 3190 




2    AMENDMENT NO. ______. Amend Senate Bill 3190 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The School Code is amended  by changing Sections 
58-6 and 34-74 as follows:
 



6    (105 ILCS 5/8-6)  (from Ch. 122, par. 8-6)



7    Sec. 8-6. Custody
of school funds.
8    (a) The school treasurer shall have custody of the school 
9funds and shall
keep in a cash book separate cash balances. In 
10the cash book he shall enter in
separate accounts the balance, 
11total of all moneys received in each fund,
and the total of the 
12orders countersigned or checks signed with respect to each fund 
13and extend the balances and the aggregate cash balance for all 
14funds
balance at least monthly. The treasurer shall reconcile 
15such balances with the
accounting or bookkeeping department of 
16the district in conformity with a template provided by the 
 
 
10000SB3190sam005- 2 -LRB100 19841 AXK 41022 a

1State Board of Education monthly. School districts on the 
2financial watch or warning list that are required to submit 
3deficit reduction plans in accordance with Section 17-1 of this 
4Code or that are certified in financial difficulty in 
5accordance with Section 1-A8 of this Code must transmit the 
6cash balances as required pursuant to this Section 8-6 of this 
7Code to the State Board of Education quarterly from the 
8treasurer. 

9    (b) Each school board must submit a quarterly report to the 
10State Board of Education that contains all of the following 
11information:
12        (1) The amount of funds that each school district has 
13    in its reserves.
14        (2) The number of each school district's days cash on 
15    hand.
16        (3) The amount of funds that each school district has 
17    in its investments.
18The State Board must publish and maintain the information in 
19each quarterly report on its Internet website. 
20(Source: P.A. 97-429, eff. 8-16-11.)

 


21    (105 ILCS 5/34-74)  (from Ch. 122, par. 34-74)



22    Sec. 34-74. Custody of school moneys.  
23    (a) Except as provided in Article 34A and Section 34-29.2 
24of this
Code, all moneys raised by taxation for school 
25purposes, or
received from
the state common school fund, or 
 
 
10000SB3190sam005- 3 -LRB100 19841 AXK 41022 a

1from any other source for school
purposes, shall be held by the 
2city treasurer, ex-officio, as school
treasurer, in separate 
3funds for school purposes, subject to the order
of the board 
4upon
(i) its warrants signed by its president and secretary and

5countersigned by the mayor and city comptroller
or (ii) its 
6checks, as
defined in Section 3-104 of the Uniform Commercial 
7Code, signed by its
president, secretary, and comptroller and 
8countersigned by the mayor and city
comptroller.

9    (b) The board must submit a quarterly report to the State 
10Board of Education that contains all of the following 
11information:
12        (1) The amount of funds that the school district has in 
13    its reserves.
14        (2) The number of the school district's days cash on 
15    hand.
16        (3) The amount of funds the school district has in its 
17    investments.
18The State Board must publish and maintain the information in 
19the quarterly report on its Internet website. 
20(Source: P.A. 94-1105, eff. 6-1-07.)

 

21    Section 99. Effective date. This Act takes effect upon 
22becoming law.".