New Law Authorizes Interfund Transfers from Tort Immunity to O&M

By February 28, 2017 News No Comments

Effective January 17, 2017, Public Act 99-922 amended Section 17-2A of the School Code, which governs interfund transfers among certain school district funds, to allow for interfund transfers from the Tort Immunity Fund to the Operations and Maintenance Fund (not vice versa). In conjunction with the change to Section 17-2A, the law also amended the Illinois Local Governmental and Governmental Employees Tort Immunity Act to remove the transferred funds from the restrictions in the Tort Immunity Act regarding how Tort Immunity funds may be expended. This new law provides school districts with an additional transfer option for Tort Immunity balances. Like other transfers under Section 17-2A, these transfers must be authorized by Board resolution following a published notice and a public hearing.

Please contact Heather Brickman or Steve Richart with your questions regarding interfund transfers and related procedural requirements.

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