TWP CD-ACCUMULATION OF FUNDS

Amends the Township Code. Provides that, if the township board determines that one or more funds of the township are in excess of the amount needed for purposes of such fund or funds for the remainder of the then-current fiscal year, the township board may, within one year after the effective date of the amendatory Act, direct a one-time transfer of such excess funds to any other fund or funds of the township. Senate Committee Amendment No. 1 Deletes reference to: 60 ILCS 1/245-25 new Adds reference to: 60 ILCS 1/85-65 Replaces everything after the enacting clause. Amends the Township Code. Provides that general assistance funds are included in provisions prohibiting accumulation of township funds that exceed an amount equal to or greater than 2.5 times the annual average expenditure of the previous 3 fiscal years. Effective immediately.