Article

School District Financial Oversight Panel and Emergency Financial Assistance

105 ILCS 5/1B-1— Short title
105 ILCS 5/1B-2— Findings and purpose
105 ILCS 5/1B-3— Definitions
105 ILCS 5/1B-4— Establishment of Emergency Financial Assistance and Financial Oversight Panel
105 ILCS 5/1B-5— When a petition for emergency financial assistance for a school district is allowed by the State Board under Section 1B-4, the State Superintendent shall within 10 days thereafter appoint 3 members to serve at the State Superintendent's pleasure on a Financial Oversight Panel for the district
105 ILCS 5/1B-6— General powers
105 ILCS 5/1B-7— Financial Administrator; powers and duties
105 ILCS 5/1B-7.5— Hiring of a district superintendent or chief executive officer
105 ILCS 5/1B-7.10— Hiring of a chief fiscal officer
105 ILCS 5/1B-8— There is created in the State Treasury a special fund to be known as the School District Emergency Financial Assistance Fund (the "Fund")
105 ILCS 5/1B-9— Assistance by State agencies, units of local government or school districts
105 ILCS 5/1B-10— Approval of Financial Plan, Budget and Contracts
105 ILCS 5/1B-11— Balanced Budget
105 ILCS 5/1B-12— Financial Plans
105 ILCS 5/1B-13— Budgets
105 ILCS 5/1B-14— Contracts and Other Obligations
105 ILCS 5/1B-15— Expenditures
105 ILCS 5/1B-16— Cash accounts and bank accounts
105 ILCS 5/1B-17— Hearings
105 ILCS 5/1B-18— Limitations of actions after abolition; indemnification
105 ILCS 5/1B-19— Abolition of Panel
105 ILCS 5/1B-20— Sanctions
105 ILCS 5/1B-21— (Repealed)
105 ILCS 5/1B-22— Additional Powers of the Panel
105 ILCS 5/1B-25— Establishment prohibited