Sec. 7-10. The budget shall specify the organizational unit, fund, activity and object to which an appropriation is applicable, as well as the amount of such appropriation.

186 words·~1 min read·/il/chapter-110/act-805/7-10

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The budget shall include appropriations for:

1. All estimated current expenditures or charges to be made or incurred during that fiscal year, including interest to accrue on tax anticipation warrants and temporary loans;

2. All final judgments, including accrued interest thereon, entered against the board and unpaid at the beginning of that fiscal year;

3. Any amount for which the board is required under this Act to reimburse the working cash fund from the educational fund and operations and maintenance fund;

4. All other estimated liabilities, including the principal of all tax anticipation warrants and all temporary loans and all accrued interest thereon, incurred during prior years and unpaid at the beginning of that fiscal year; and

5. An amount or amounts estimated to be sufficient to cover the loss and cost of collecting taxes levied for that fiscal year and also deferred collections thereof and abatements in the amounts of those taxes as extended upon the collectors' books.