(110 ILCS 805/7-15) (from Ch. 122, par. 107-15)
Sec. 7-15.
The board may at any regular meeting on or after July 1 in any
year, by a vote of 2/3 of all its members, authorize the making of
transfers within any fund under its jurisdiction of sums of money
appropriated for one object or purpose to another object or purpose, which
action shall be entered in its proceedings; but no appropriation for any
purpose may be reduced below an amount sufficient to cover all obligations
incurred or to be incurred against the appropriation for that purpose.
If, at the termination of any fiscal year or the time when the budget
for the ensuing fiscal year should have been passed as provided in this
Article, the appropriations necessary for the expenditures of the board for
that ensuing fiscal year has not been made, the several amounts
appropriated in the last budget for operation and maintenance expenses
shall be considered to be appropriated for the current fiscal year for
those purposes. Until the board passes an appropriation for the current
fiscal year, the treasurer shall make the payments necessary for the
support of the public community college on the basis of the
appropriations of the
preceding fiscal year.
(Source: P.A. 82-622.)
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