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School Treasurer Bond

SPECIAL NOTICE:

Update: HB523 was signed into law by Governor Pritzker on Friday June 9th and takes effect immediately. It has lowered the required amount to be held in reserve by the school district when issuing a bond. The amount has lowered from 25% to 10%.

 

 

 

School Treasurer’s Bond for which are set expire on or before June 30, 2023 or July 1, 2023 must be renewed and filed with the Regional Office of Education. Please complete the form included below, obtain the appropriate signatures, and return the bond via the upload option on this page.  Once the bond has been reviewed and approved by the Regional Superintendent of Schools, it will be returned to you via email.
 

 

It is required for you to file your bond before it expires.  If you are changing Treasurer, you will need to have a new bond issued in their name prior to that person being allowed to receive funds. If the bond is not filed by the expiration date, Ch. 122, par. 3-9 of the Illinois School Code provides:

     “….No part of the State or other school funding, however, shall be paid to any school treasurer or other persons authorized to receive it unless such treasurer has filed the required bond, or if reelected, has renewed the bond and filed it as required by law.”

 

The full school code can be found here:

http://www.ilga.gov/legislation/ilcs/documents/010500050K8-2.htm

 

For questions or concerns, please contact the Finance Office at:
finance@lake.k12.il.us
847-543-7833

Documents for districts that have not changed their treasurer from last year.

1. Calculation Sheet

2. School Treasury Bond
 

Documents for districts with new treasurer

1. Calculation Sheet

2. School Treasury Bond

3. Resolution Appointing School Treasurer

UPLOAD COMPLETED SCHOOL TREASURER REPORT HERE.

Upload File
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