ILCS » Chapter 70 · Act 3615
Illinois Compiled Statutes

70 ILCS 3615/4.01 (2026)

Budget and program

✓ current as of May 2026
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(70 ILCS 3615/4.01) (from Ch. 111 2/3, par. 704.01)
    (Text of Section from P.A. 104-434)
    Sec. 4.01. Budget and program.
    (a) The Board shall control the finances of the Authority. It shall by ordinance adopted by the affirmative vote of at least 12 of its then Directors (i) appropriate money to perform the Authority's purposes and provide for payment of debts and expenses of the Authority, (ii) take action with respect to the budget and two-year financial plan of each Service Board, as provided in Section 4.11, and (iii) adopt an Annual Budget and Two-Year Financial Plan for the Authority that includes the annual budget and two-year financial plan of each Service Board that has been approved by the Authority. The Annual Budget and Two-Year Financial Plan shall contain a statement of the funds estimated to be on hand for the Authority and each Service Board at the beginning of the fiscal year, the funds estimated to be received from all sources for such year, the estimated expenses and obligations of the Authority and each Service Board for all purposes, including expenses for contributions to be made with respect to pension and other employee benefits, and the funds estimated to be on hand at the end of such year. The fiscal year of the Authority and each Service Board shall begin on January 1st and end on the succeeding December 31st. By July 1st of each year the Director of the Illinois Governor's Office of Management and Budget (formerly Bureau of the Budget) shall submit to the Authority an estimate of revenues for the next fiscal year of the Authority to be collected from the taxes imposed by the Authority and the amounts to be available in the Public Transportation Fund and the Regional Transportation Authority Occupation and Use Tax Replacement Fund and the amounts otherwise to be appropriated by the State to the Authority for its purposes. The Authority shall file a copy of its Annual Budget and Two-Year Financial Plan with the General Assembly and the Governor after its adoption. Before the proposed Annual Budget and Two-Year Financial Plan is adopted, the Authority shall hold at least one public hearing thereon in the metropolitan region, and shall meet with the county board or its designee of each of the several counties in the metropolitan region. After conducting such hearings and holding such meetings and after making such changes in the proposed Annual Budget and Two-Year Financial Plan as the Board deems appropriate, the Board shall adopt its annual appropriation and Annual Budget and Two-Year Financial Plan ordinance. The ordinance may be adopted only upon the affirmative votes of 12 of its then Directors. The ordinance shall appropriate such sums of money as are deemed necessary to defray all necessary expenses and obligations of the Authority, specifying purposes and the objects or programs for which appropriations are made and the amount appropriated for each object or program. Additional appropriations, transfers between items and other changes in such ordinance may be made from time to time by the Board upon the affirmative votes of 12 of its then Directors.
    (b) The Annual Budget and Two-Year Financial Plan shall show a balance between anticipated revenues from all sources and anticipated expenses including funding of operating deficits or the discharge of encumbrances incurred in prior periods and payment of principal and interest when due, and shall show cash balances sufficient to pay with reasonable promptness all obligations and expenses as incurred.
    The Annual Budget and Two-Year Financial Plan must show:
        (i) that the level of fares and charges for mass
    
transportation provided by, or under grant or purchase of service contracts of, the Service Boards is sufficient to cause the aggregate of all projected fare revenues from such fares and charges received in each fiscal year to equal at least 50% of the aggregate costs of providing such public transportation in such fiscal year. However, due to the fiscal impacts of the COVID-19 pandemic, the aggregate of all projected fare revenues from such fares and charges received in fiscal years 2021, 2022, 2023, 2024, 2025, and 2026 may be less than 50% of the aggregate costs of providing such public transportation in those fiscal years. "Fare revenues" include the proceeds of all fares and charges for services provided, contributions received in connection with public transportation from units of local government other than the Authority, except for contributions received by the Chicago Transit Authority from a real estate transfer tax imposed under subsection (i) of Section 8-3-19 of the Illinois Municipal Code, and from the State pursuant to subsection (i) of Section 2705-305 of the Department of Transportation Law
Notes of Decisions
Cited in 2 cases, 2003–2003 · leading case: Pace v. Reg'l Transp. Auth., 803 N.E.2d 13 (Ill. App. Ct. 2003).
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Pace v. Reg'l Transp. Auth., 803 N.E.2d 13 (Ill. App. Ct. 2003). · cites it 3× “See 70 ILCS 3615/4.01(a) (West 2000) (RTA’s fiscal year runs from January 1 to December 31).”
Pace v. Reg'l Transp. Auth. (Ill. App. Ct. 2003). · cites it 3× “See 70 ILCS 3615/4.01(a) (West 2000) (RTA's fiscal year runs from January 1 to December 31).”
— 70 ILCS 3615/4.01(a) — 2 cases
Pace v. Reg'l Transp. Auth., 803 N.E.2d 13 (Ill. App. Ct. 2003). “See 70 ILCS 3615/4.01(a) (West 2000) (RTA’s fiscal year runs from January 1 to December 31).”
Pace v. Reg'l Transp. Auth. (Ill. App. Ct. 2003). “See 70 ILCS 3615/4.01(a) (West 2000) (RTA's fiscal year runs from January 1 to December 31).”
— 70 ILCS 3615/4.01(b) — 2 cases
Pace v. Reg'l Transp. Auth., 803 N.E.2d 13 (Ill. App. Ct. 2003). “See 70 ILCS 3615/4.01(a) (West 2000) (RTA’s fiscal year runs from January 1 to December 31).”
Pace v. Reg'l Transp. Auth. (Ill. App. Ct. 2003). “See 70 ILCS 3615/4.01(a) (West 2000) (RTA's fiscal year runs from January 1 to December 31).”
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