Illinois Compiled Statutes
105 ILCS 5/ - School Code.
Article 8 - Treasurers

(105 ILCS 5/Art. 8 heading)

 
(105 ILCS 5/8-1) (from Ch. 122, par. 8-1)
Sec. 8-1. Treasurers.
(a) Except as otherwise provided in subsections (b) and (c), in
Class II county school units the trustees of schools shall appoint a
treasurer who shall be ex-officio clerk of the board. The term of the
township treasurer shall be for a 2 year period beginning and ending on the
first of July. The treasurer shall be a resident of the township, but not a
trustee, or school board member. He shall attend all meetings and keep a
record of the official proceedings of the trustees of schools. Such record
shall be open to public inspection. All proceedings, when recorded, shall
be signed by the president and the clerk. If the clerk is absent, or
refuses to perform any of his duties, a clerk pro tempore may be appointed.
For sufficient cause the treasurer may be removed from office by the
trustees of schools. In case of a vacancy the trustees of schools shall
elect a treasurer for the unexpired term.
(b) In Class I county school units, and in each school district
which forms a part of a Class II county school unit but which has withdrawn
from the jurisdiction and authority of the trustees of schools of the
township in which such school district is located and from the jurisdiction
and authority of the township treasurer in such Class II county
school unit as provided in subsection (b) of Section 5-1, each
school board shall either elect one of its members to serve as treasurer
without salary for a period of one year or appoint someone, not a member of
the school board, as its treasurer, and, except as provided in this
Section the board shall fix his compensation. An appointed treasurer shall
serve at the pleasure of the board. An appointed treasurer shall be at
least 21 years of age, of approved integrity, but not a member of the
county board of school trustees. The records of the treasurer shall be open
to public inspection. Two or more such districts may appoint the same
treasurer. In case of a vacancy caused by the death, resignation or the
removal from office of the school treasurer the school board shall appoint
a treasurer. The school board may determine the temporary incapacity of
its treasurer occasioned by illness, absence from the district or any other
cause which prevents the prompt performance of his duties and appoint an
acting treasurer to serve until the board determines such temporary
incapacity no longer exists.
(c) The school board of each elementary school, high school and unit
school district that forms a part of a
Class II county school unit and that was under the jurisdiction and
authority of the township treasurer and trustees of schools of a township
at the time those offices were abolished in that township as provided in
subsection (c) of Section 5-1 shall appoint a person to serve as treasurer
of the school board. The term of each school treasurer appointed under
this subsection shall be for a 2 year period beginning and ending on the
first day of July. A person appointed under this subsection to serve as
treasurer of a school board shall not be the superintendent of schools of the school district. A person
appointed and serving under this subsection as treasurer of a school board
may concurrently serve as the treasurer of the regional board of school
trustees, if selected to serve in that capacity by the regional board of
school trustees, as provided in subsection (c) of Section 5-1. The school
board shall fix the compensation of its school treasurer, and for
sufficient cause may remove the school treasurer from office. However, if a member of the school board is also school treasurer, he or she shall perform his or her duties as school treasurer without compensation. In the case
of a vacancy, the school board shall appoint a school treasurer for the
unexpired term. The school board may determine the temporary incapacity of
its treasurer due to illness, absence from the district, or other cause
that prevents the prompt performance of his duties and may appoint an
acting treasurer to serve until the school board determines that the
temporary incapacity of its treasurer no longer exists.
(d) After October 1, 1977, each treasurer in a Class I county school
unit appointed under this Section for his first term shall have a financial
background or related experience or 12 semester hours of credit of college
level accounting.
(e) After August 14, 1989, any treasurer appointed under this Section
for his first term in Class II county school units, including any person
appointed by a school board to serve as its treasurer as provided in
subsection (c) of this Section, shall be a certified
public accountant or a certified chief school business official as defined
in part (3) of Section 21-7.3 of this Act. Experience as a township
treasurer in a Class II county school unit prior to July 1, 1989 shall be
deemed the equivalent of certification.
(f) Concurrently with the election or appointment of its own school
treasurer by the school board of a school district which forms a part of a
Class II county school unit but which no longer is subject to the
jurisdiction and authority of a township treasurer or trustees of schools
of a township because the district has withdrawn from the jurisdiction and
authority of the township treasurer and trustees of schools of the township
or because those offices have been abolished as provided in
subsection (b) or (c) of Section 5-1, all funds, accounts, moneys, notes,
bonds, mortgages and effects then held by such township treasurer on behalf or
for the use and benefit of, or then credited by such township treasurer to any
fund or account of such school district shall thereupon be transferred and
paid over by such township treasurer to the school treasurer elected or
appointed by the school board of such school district. In addition the
school treasurer of such school district shall have the right, at all
reasonable times, to inspect all cash books, loan books, district account
books and journals kept by such township treasurer as provided in Section
8-5 and to copy or otherwise reproduce such portions thereof as such school
treasurer deems necessary for the performance of his duties.
(g) Upon the abolition of the offices of the township treasurer and
trustee of schools of a township as provided in subsection (c) of Section
5-1, and subject to the limitation of subsection (b) of Section 8-5 with
respect to certain records to be surrendered to the regional board of
school trustees, and except as otherwise provided in subsection (c) of
Section 5-1 with respect to the common school lands and township loanable
funds of that township and with respect to the records, books and accounts
relating to those common school lands and township loanable funds, all
school funds and accounts, moneys, notes, bonds, securities, district
account books and other documents, records and effects then held by the
former township treasurer on behalf or for the use and benefit of, or then
credited by the former township treasurer to any fund or account of any
school district that was under the jurisdiction and authority of the
township treasurer at the time the office of that township treasurer was
abolished shall thereupon be transferred and paid over by the former
township treasurer to the appropriate school treasurer appointed by the
school board of each such district under subsection (c) of this Section 8-1.
(h) If the school district of a school treasurer elected or appointed under
this Section is receiving emergency State financial assistance under
Article 1B, that school treasurer is subject to the provisions of Article 1B.

(Source: P.A. 96-538, eff. 8-14-09.)
 
(105 ILCS 5/8-2) (from Ch. 122, par. 8-2)
Sec. 8-2.
Bond of treasurer.
Before entering upon his duties, each school
treasurer shall execute a bond with 2 or more persons having an interest
in real estate who are not trustees, or a surety company authorized to do
business in this State, as sureties, payable to the township trustees of
schools in Class II county school units and to the school board of each
district for which he or she is treasurer or its successors in office in
Class I county school units and conditioned upon the faithful discharge of
his or her duties, except that the bond required of the school treasurer of
a school district which is located in a Class II county school unit but
which no longer is subject to the jurisdiction and authority of a township
treasurer or trustees of schools of a township because the district has
withdrawn from the jurisdiction and authority of the township treasurer and
trustees of schools of the township or because those offices have been
abolished as provided in subsection (b) or (c) of Section 5-1 shall be
payable to the school board of each district for which he or she is
treasurer or its successor in office and conditioned upon the faithful
discharge of his or her duties. The penalty of the bond shall be 25%
of the amount of all bonds, notes, mortgages, moneys and effects of
which he is to have the custody, whether individuals act as
sureties or whether the
surety given is by a surety company authorized to do business in this
State, and shall be increased or decreased from time to time, as the
increase or decrease of the amount of notes, bonds, mortgages, moneys and
effects may require, and whenever in the judgment of the regional
superintendent of schools, or whenever in the judgment of the township
trustees or the school board of the district by which the school treasurer
was appointed or elected, the penalty of the bond should be increased or
decreased; provided that the penalty of the bond shall not be increased to
more than 25% of the amount of all bonds, notes, mortgages, moneys and effects
of which the treasurer has custody at any time. The bond of the township
treasurer shall be approved by at least
a majority of the township trustees in Class II county school units;
provided that in those school districts that are located in a Class II
county school unit but are no longer subject to the jurisdiction and
authority of a township treasurer and trustees of schools of a township
(because the districts have withdrawn from the jurisdiction and authority
of the township treasurer and trustees of schools of the township or
because those offices have been abolished as provided in subsection (b) or
(c) of Section 5-1) and in Class I county school units, the bond shall be
approved by at least a majority of the members of the school board; and in
all cases the bond shall be filed with the regional superintendent of
schools who shall file with the State Board of Education before September 1
in each year an affidavit showing which treasurers of school districts
under his supervision and control are properly bonded. The bond shall be in
the following form:

STATE OF ILLINOIS

.......... COUNTY
We, AB, CD and EF, are obligated, jointly and severally, to the
(School Board of District No. ...., or trustees of township .... range ....)
in the above mentioned county or successors in office, in the penal sum of
$...., for the payment of which we bind ourselves, our heirs, executors and
administrators.
Dated (insert date).
The condition of this obligation is such that if
AB, school treasurer in the above stated county, faithfully discharges
the duties of his or her office, according to law, and delivers to his or her
successor in office, after such successor has qualified by giving
bond as provided by law, all moneys, books, papers, securities and control,
which have come into his or her possession or control, as such school
treasurer, from the date of his or her bond to the time that his or her
successor has qualified as school treasurer, by giving such bond as
required by law, then this obligation to be void; otherwise to remain
in full force and effect.
Approved and accepted by:
No part of the State or other school fund shall be paid to any school
treasurer or other persons authorized to receive it unless such
treasurer has filed his or her bond, or if reelected, has renewed his or her
bond and filed it as required by law.

(Source: P.A. 91-357, eff. 7-29-99.)
 
(105 ILCS 5/8-3) (from Ch. 122, par. 8-3)
Sec. 8-3.
Compensation.

Each school treasurer shall receive in full, for his services, a
compensation to be fixed, prior to his appointment, and such compensation
shall not be decreased during his term of office.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-4) (from Ch. 122, par. 8-4)
Sec. 8-4.

High school districts to pay share of compensation and
expenses. Each elementary school district, community high school district
and township high school district - excepting, however, any school
district that no longer is subject to the jurisdiction and authority of a
township treasurer or trustees of schools of a township because the
district has withdrawn from the jurisdiction and authority of the township
treasurer and trustees of schools of the township or because those offices
have been abolished as provided in subsection (b) or (c) of Section 5-1 --
shall pay a proportionate share of the compensation of the township
treasurer serving such district or districts and a proportionate share of
the expenses of the township treasurer's office, which compensation and
expenses shall be determined by dividing the total amount of all school
funds handled by the township treasurer by such amount of the funds as
belongs to each such elementary school district or high school district.

(Source: P.A. 86-1441; 87-473.)
 
(105 ILCS 5/8-5) (from Ch. 122, par. 8-5)
Sec. 8-5.
Books and accounts.
(a) The township treasurer shall be provided by the trustees of schools
with a cash book, a loan book, a district account book, and a journal.
In the cash book he shall enter in separate accounts all moneys received
and paid out, with the amount, date, from whom, to whom and on what
account received or paid out; or, if loaned, the date, to whom, and the
amount. Moneys received shall be charged to debit account, and moneys
paid out shall be credited as follows: First, to the principal of the
township fund; second, to the interest of the township fund; third, to
the common school fund and other funds; fourth, to the taxes received
from the county or town collector, and for what districts received;
fifth, donations; sixth, moneys coming from all other sources; in all
cases entering the date when received, and when paid out.
In the loan book he shall enter a record of all school funds loaned,
with the amount to whom, date, time, when due, and the rate of interest,
the interest paid, and a description of the securities.
In the district account book he shall post from the cash book all
receipts and expenditures on account of any district, with the amount,
date, from or to whom, and from what sources and for what purposes.
In the journal he shall record at length the acts and proceedings of
the trustees of schools, their orders, by-laws and resolutions.
The township treasurer shall keep his accounts in the manner directed
by the State Board of Education, the regional superintendent
of schools or the trustees of schools; and they shall be subject at all
times to the inspection of the trustees, the directors or school board
members or other persons authorized by this Act or of any committee
appointed by the voters of the township at the election of
trustees to examine them.
(b) Concurrently with the abolition of the offices of township
treasurer and trustee of schools of a township as provided in subsection
(c) of Section 5-1, the former township treasurer whose office has been so
abolished shall surrender to the school treasurer of each school district
served by that township treasurer at the time that office is abolished the
district account book theretofore maintained for that school district by
the former township treasurer, and in addition shall surrender to the
regional board of school trustees the cash books, loan books and journals
referred to in subsection (a) of this Section 8-5; provided that the school
board and school treasurer of each such school district, the State Board of
Education, the regional superintendent and such other persons as may be
authorized by law shall have the right, at all reasonable times, to
inspect, and to copy or otherwise reproduce any portions of the cash books,
loan books and journals surrendered by the former township treasurer to the
regional board of school trustees as required by this subsection.

(Source: P.A. 87-473.)
 
(105 ILCS 5/8-6) (from Ch. 122, par. 8-6)
Sec. 8-6. Custody
of school funds.
The school treasurer shall have custody of the school funds and shall
keep in a cash book separate cash balances. In the cash book he shall enter in
separate accounts the balance, total of all moneys received in each fund,
and the total of the orders countersigned or checks signed with respect to each fund and extend the balances and the aggregate cash balance for all funds
balance at least monthly. The treasurer shall reconcile such balances with the
accounting or bookkeeping department of the district in conformity with a template provided by the State Board of Education monthly. School districts on the financial watch or warning list that are required to submit deficit reduction plans in accordance with Section 17-1 of this Code or that are certified in financial difficulty in accordance with Section 1-A8 of this Code must transmit the cash balances as required pursuant to this Section 8-6 of this Code to the State Board of Education quarterly from the treasurer.

(Source: P.A. 97-429, eff. 8-16-11.)
 
(105 ILCS 5/8-7) (from Ch. 122, par. 8-7)
Sec. 8-7.
Only lawful custodian of funds - Depositaries.
Except as
otherwise provided in subsection (f) of Section 8-1,
subsection (c) of Section 5-1, and subsection (b) of Section 8-5,
the township treasurer in Class II county school units, the school
treasurer in Class I county school units, and the school treasurer in
any school district that forms a part of a Class II county school unit but
which no longer is subject to the jurisdiction and authority of a
township treasurer and trustees of schools of a
township (because the district has withdrawn from the jurisdiction
and authority of the township treasurer and trustees of school of the
township or because those offices have been abolished
as provided in subsection (b) or (c) of Section 5-1) shall be the only
lawful custodian of all school funds and shall demand receipt for and
safely keep, according to law, all bonds, mortgages, notes, moneys,
effects, books and papers belonging to any school district or township, as
the case may be, which he serves as treasurer. Trustees of schools in Class
II county school units, school boards in Class I county school
units, and those school boards in Class II county school units that have
elected or appointed their own school treasurer pursuant to subsection (b) or
(c) of Section 5-1 and subsection (b) or (c) of Section 8-1, shall
designate one or more banks, savings and loan
associations, situated in the State of Illinois, in which school funds and
moneys in the custody of the township treasurer or of the school treasurer
shall be kept. When a bank or savings and loan association has been
designated as a depositary it shall continue as such until 10 days after a
new depositary is designated and has qualified by furnishing statements of
resources and liabilities as is required by this section. When a new
depositary is designated, the trustees of schools in Class II county school
units, school boards in Class I county school units, and those
school boards in Class II county school units that have elected or appointed
their own school treasurer pursuant to subsection (b) or (c) of Section
5-1 and subsection (b) or (c) of Section 8-1, shall notify the sureties
of the township treasurer or of the school treasurer, as the case may be, of
that fact, in writing at least 5 days before the transfer of funds. The
township treasurer or the school treasurer shall be discharged from
responsibility for such funds and moneys which he deposits in a depositary so
designated while such funds and moneys are so deposited.
No bank or savings and loan association shall receive public funds as
permitted by this Section, unless it has complied with the requirements
established pursuant to Section 6 of the Public Funds Investment Act.
Township and school treasurers are authorized to enter into agreements
of any definite or indefinite term regarding the deposit, redeposit,
investment, reinvestment or withdrawal of school funds, including, without
limitation, agreements with other township and school treasurers,
agreements with community college districts authorized by Section 3-47 of
the Public Community College Act and agreements with educational service
regions authorized by Section 3-9.1.
Each township and school treasurer is permitted to (i) combine moneys
from more than one fund of a single school district for the purpose of
investing such funds, and (ii) join with township and school treasurers,
community college districts and educational service regions in investing school
funds, community college funds and educational service region funds. Such joint
investments shall be made only in investments authorized by law for the
investment of school funds or, in the case of investments made jointly with
community college districts and educational service regions, in investments
authorized by law for the investment of school funds, community college funds
and educational service region funds. When moneys of more than one fund of a
single school district are combined for investment purposes or when moneys of a
school district are combined with moneys of other school districts, community
college districts or educational service regions, the moneys combined for such
purposes shall be accounted for separately in all respects, and the earnings
from such investment shall be separately and individually computed and
recorded, and credited to the fund or school district, community college
district or educational service region, as the case may be, for which the
investment was acquired.

(Source: P.A. 86-1051; 86-1441; 87-435; 87-473; 87-968.)
 
(105 ILCS 5/8-8) (from Ch. 122, par. 8-8)
Sec. 8-8.

Township
fund - Loans - Investments.
The township treasurer or township land commissioners, as the case may
be, shall keep the principal of the township fund loaned at interest. The
rate of interest, which shall not be less than four per cent per annum,
payable annually, except in the case of investments in war bonds of the
United States government, shall be determined by a majority of the trustees
of schools at any regular or special meeting. No loan shall be made for
less than one year nor more than 5 years but investments secured by
mortgage, notes, or bonds, insured by the Federal Housing Administrator, or
debentures issued by him, or in bonds or other obligations of National
Mortgage Associations, may be for longer than 5 years. All loans shall be
secured by mortgage on unencumbered realty situated in this State, worth at
least 50% more than the amount loaned, with a condition that in case
additional security shall be required at any time it shall be given to the
satisfaction of the trustees of schools. In estimating the value of realty
mortgaged to secure the payment of money loaned, the value of improvements
liable to be destroyed may be included; but in such case the improvements
shall be insured for their insurable value in a responsible insurance
company or companies, and the policy or policies shall be transferred to
the trustees of schools as additional security, and shall be kept so
insured until the loan is paid. The township treasurer or township land
commissioners, as the case may be, also may invest the principal of the
township fund in:
1. Bonds issued by the State, the Sanitary District of Chicago,
counties, townships and cities in this State, and by school directors
pursuant to Section 19-2;
2. Bonds issued by any district in this State having authority to levy
taxes upon all taxable property within the district;
3. Mortgage notes or bonds issued by the Federal Housing Administrator,
or debentures issued by him;
4. Bonds or other obligations of National Mortgage Associations or the
Home Owners' Loan Corporation;
5. United States Government, State of Illinois and municipal securities
the payment of which is protected by the power to levy taxes (not including
special assessments) therefor.
He or they may exchange mortgages in default for bonds of the Home
Owners' Loan Corporation.
He or they may invest moneys in the operations and maintenance
fund of any school district in war bonds of the United States government
that are redeemable at the owner's option, in cases where building projects
cannot, by reason of material shortages or wartime priority restrictions,
currently be undertaken or completed. School funds held by the treasurer of
a district created by any special act shall be invested according to the
provisions of this Section.

(Source: P.A. 86-970.)
 
(105 ILCS 5/8-9) (from Ch. 122, par. 8-9)
Sec. 8-9.
Mortgages - Form.
Mortgages to secure the payment of money
loaned under the provisions of this Act may be in the following form:
I, A B, of the county of ...., State of ...., do hereby grant, convey and
transfer to the trustees of schools of township No. ...., Range No. ....,
in the County of ...., and State of Illinois, for the use of the
inhabitants of the township, the following described real estate:
(here insert premises), which real estate I declare to be in mortgage for
the payment of $...., loaned to me and for the payment of all
interest that may accrue thereon, to be computed at the rate of .... per
cent per year until paid. I agree to pay the above sum of
money in .... years from the date hereof, and to pay the interest on the
same annually, at the rate above stated. I further covenant that I have
a good and valid title to the estate, and that the same is free from all
incumbrance, and that I will pay all taxes and assessments which may be
levied on the real estate, and that I will give any additional security
that may at any time be required in writing by the board of trustees; and
if the real estate is sold to pay the debt or any part thereof, or for
any failure or refusal to comply with or perform the conditions or covenants
herein contained, I will deliver immediate possession of the premises.
It is further agreed by and between the parties that in the event a
complaint is filed in any court to foreclose this mortgage for non-payment
of either principal or interest, that the mortgagor will pay a reasonable
attorney's fee, and the same shall be included in the judgment and be taxed
as costs; and we, A B, and C, spouse of A B, hereby release all rights to
the premises which we may have by virtue of any homestead laws of this
State.
Dated (insert date).
A .... B ....................
C .... D ....................
The mortgage shall be acknowledged and recorded as is required by law
for other conveyances of real estate, the mortgagor paying the expenses of
acknowledgment and recording.

(Source: P.A. 91-357, eff. 7-29-99.)
 
(105 ILCS 5/8-10) (from Ch. 122, par. 8-10)
Sec. 8-10.
Interest in default-Actions.
If default is made in the interest due upon money loaned by any township
treasurer, or in the payment of the principal, interest at the rate of 12
per cent per annum shall be charged upon the principal and interest from
the day of default, which interest shall be included in the assessment of
damages, or in the judgment in the suit or action brought upon the
obligation to enforce payment thereof, and interest at the rate of 12 per
cent per annum may be recovered in an action brought to recover interest
only. The township treasurer may bring appropriate actions in the name of
the trustees for the recovery of the interest when due and unpaid, without
suing for the principal, in whatever form secured.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-11) (from Ch. 122, par. 8-11)
Sec. 8-11.

Suit
when additional security not furnished.
If the trustees of schools require additional security for the payment
of money loaned, and such security is not given, the township treasurer
shall cause suit to be instituted for the recovery of the principal and
accrued interest to the date of judgment. Proof shall be made of such
requisitions.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-12) (from Ch. 122, par. 8-12)
Sec. 8-12.

Name
in which securities taken-Actions.
Bonds, mortgages, notes and other securities taken for money or other
property due, or to become due, to the trustees of schools for the
township, shall be made payable to them in their corporate name; and in
such name, suits, actions and complaints, and every description of legal
proceedings may be had for the recovery of money, breach of contracts and
for every legal liability which may at any time arise or exist, or upon
which a right of action shall accrue to the use of such corporation.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-13) (from Ch. 122, par. 8-13)
Sec. 8-13.
Statement of condition of funds.
On or before June 30, annually, the township treasurer shall deliver to
the county superintendent of schools a statement verified by his affidavit,
showing the exact condition of the township funds. Such statement shall
contain a description of all bonds, mortgages, notes and other securities,
held as principal of the township fund, giving names, dates, amounts, rates
of interest, when due, and other data necessary to a full understanding of
the condition of the funds.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-14) (from Ch. 122, par. 8-14)
Sec. 8-14.
Statements to trustees-Books, mortgages, etc., submitted for examination.
On the first Mondays in April and October of each year the township
treasurer shall submit to the trustees of schools a statement showing the
amounts of interest, rents, issues and profits on township lands and funds
that have accrued since their last regular meeting, and also the amount of
distributive funds on hand. He shall submit also to the trustees for their
examination all books, mortgages, bonds, notes and other evidences of
indebtedness held by him as treasurer of the township, and shall make such
other statements as the trustees may require.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-15) (from Ch. 122, par. 8-15)
Sec. 8-15.
Statement of district accounts.

The school treasurer shall furnish to the school board of the district
which he serves as treasurer a monthly reconciliation required by Section
8-6. The treasurer shall comply with any lawful demand the trustees or
school board, as the case may be, may make as to the verification of any
balance reported.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-16) (from Ch. 122, par. 8-16)
Sec. 8-16. School orders; Teacher's wages. The school treasurer shall pay out funds of the school district only
upon an order of the school board signed by the president and
clerk or secretary or by a majority of the board, except payment of the
obligations for Social Security taxes as required by the Social Security
Enabling Act and payment of recurring bills, such as utility bills, may be made upon a certification by the clerk or secretary
of the board of the amount of the obligation only. When an order issued
for the wages of a teacher is presented to the treasurer and is not paid
for want of funds, the treasurer shall endorse it over his signature,
"not paid for want of funds" with the date of presentation, and shall
make and keep a record of the endorsement. The order shall thereafter
bear interest at the rate, not exceeding the maximum rate authorized by the
Bond Authorization Act, as amended at the time of the making of the
contract, established by the school board of the district, until the
treasurer shall notify the clerk or secretary in writing that
he has funds to pay the order. Whenever the treasurer obtains sufficient
funds to pay any such order he shall set them aside for such purpose and
shall not use them to pay any other order until the order previously
presented and not paid is paid or otherwise discharged. The treasurer shall
make and keep a record of the notices and hold the funds necessary to pay
such order until it is presented. The order shall draw no interest after
notice is given to the clerk or secretary.
Nothing herein shall be construed to prevent the establishment of a
voucher system of expenditures as provided in Section 10-23.5 of this
Act.
With respect to instruments for the payment of money issued under this
Section either before, on, or after June 6, 1989, it is and always has been
the intention of the General Assembly (i) that the Omnibus Bond Acts are
and always have been supplementary grants of power to issue instruments in
accordance with the Omnibus Bond Acts, regardless of any provision of this
Act that may appear to be or to have been more restrictive than those Acts,
(ii) that the provisions of this Section are not a limitation on the
supplementary authority granted by the Omnibus Bond Acts, and (iii) that
instruments issued under this Section within the supplementary authority
granted by the Omnibus Bond Acts are not invalid because of any provision
of this Act that may appear to be or to have been more restrictive than
those Acts.

(Source: P.A. 96-998, eff. 7-2-10.)
 
(105 ILCS 5/8-17) (from Ch. 122, par. 8-17)
Sec. 8-17.
Duties of treasurer.
(a) It is also the duty of the township
treasurer to:
(b) The duties of the township treasurer set forth in subsection (a)
shall not be deemed or construed to extend or apply with respect to any
school district in his township which has withdrawn from the jurisdiction
and authority of the township trustees and from the jurisdiction and
authority of the township treasurer as provided in subsection (b) of
Section 5-1, nor to the school business, tax levies, tax revenues, payment
orders, records, elections, annual statements, receipts, disbursements,
investments or other financial or business activities or affairs of any
such school district or of the school board of any such district, other
than the duty to account in accordance with law for any balance of the
income from the permanent township fund required to be apportioned and
distributed to any such district pursuant to Section 5-17 after payment of
all valid claims as provided in that Section, and except as otherwise
provided with respect to the distribution and apportionment of funds
pursuant to Sections 15-31 and 19-28.

(Source: P.A. 86-1441.)
 
(105 ILCS 5/8-18) (from Ch. 122, par. 8-18)
Sec. 8-18.
District in two or more townships-Taxes-Treasurer.
When a district is composed of parts of two or more townships, any
treasurer not authorized to receive the taxes of the district shall notify
the school board of the amount of funds held by him to the credit of the
district, and the school board shall thereupon give the proper treasurer an
order for the funds.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-19) (from Ch. 122, par. 8-19)
Sec. 8-19.
Delivery of money, books, mortgages, etc.
to successor.
At the expiration of his term of office, or upon his removal or
resignation the school treasurer, or in case of his death, his
representatives shall deliver to his successor, all moneys, books,
mortgages, notes and securities, and all papers and documents in which the
district has any lawful interest.

(Source: Laws 1961, p. 31.)
 
(105 ILCS 5/8-20) (from Ch. 122, par. 8-20)
Sec. 8-20.
Failure or refusal to perform duties.
The school treasurer who as such treasurer fails, neglects or refuses to
perform the duties imposed upon him by this Act, within the time or in the
manner prescribed, shall forfeit not less than ten dollars, nor more than
twenty-five dollars, of his pay as treasurer, which forfeiture shall be
enforced by the trustees or school board of the district as the case may
be. For any failure or refusal to perform all the duties required of the
treasurer by law, he shall be liable to the trustees of schools or school
board or their successors in office as the case may be, upon his official
bond, for all damages sustained, to be recovered by civil action by the
trustees or school board or their successors in office as the case may be,
for the use of the township or school district as the case may be, before
any court having jurisdiction of the amount of damages claimed; but if the
treasurer, in any failure or refusal, acted under and in conformity to a
requisition or order of the trustees of schools or a school board as the
case may be entered upon their minutes and subscribed by their president
and secretary or clerk, then, and in that case, the trustees of schools or
school board as the case may be or those voting for the requisition or
order, and not the treasurer shall be liable, jointly and severally, to the
inhabitants of the township or district as the case may be for such
damages, to be recovered by a civil action in the official name of the
county superintendent of schools, having supervision and control over the
district for the use of the townships or districts as the case may be:
provided that the school treasurer shall be liable for any part of the
judgment obtained against the trustees of schools or school board or
members thereof as the case may be which cannot be collected on account of
their insolvency.

(Source: Laws 1961, p. 31.)

Structure Illinois Compiled Statutes