Illinois Statutes Chapter 105. Schools § 5/1B-3. Definitions

(a) “Financial Oversight Panel” or “Panel” means the Financial Oversight Panel created under Section 1B-4;

(b) “Board” means a local board of education;

(c) “Budget” means the annual budget of the board required under Section 17-1 and is subject to the authority of the Panel as provided in this Article;

(d) “Chairman” means the chairman of the Panel appointed pursuant to Section 1B-5 of this Article;

(e) “District” means any school district of this State not subject to the provisions of Article 34;  1

(f) “Financial plan” means the financial plan of the board required to be developed pursuant to this Article;

(g) “Fiscal year” means the fiscal year of the board;

(h) “School year” means the school year of the board;

(i) “State Board” means the Illinois State Board of Education;

(j) “State Superintendent” means the State Superintendent of Education.