§ 40. Budget of the District. The District shall adopt an annual budget by August 31 of each year for the fiscal
year beginning October 1. Such budget shall include expected revenues by source and expenditures by project
or by function for the following year. The budget must be approved by the county board of the county in which the district
is situated prior to any expenditure by the District for the fiscal year beginning
October 1. The county board must approve or disapprove the budget of the District within 30
calendar days after the budget is received by the county board. If the county board does not act to approve or disapprove the budget within 30 calendar
days of receipt, it shall stand as approved.
In addition, the District shall submit an annual report to the county board by August
31 of each year detailing the activities of the district. This report must also include any information submitted to the flood prevention
district by a drainage, levee, or sanitary district in accordance with Section 4-45
of the Illinois Drainage Code or Section 2-2 of the Metro-East Sanitary District Act.
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