IL SB3190

Requires school treasurers to maintain separate cash balances for each fund in a cash book and reconcile balances monthly with the district's accounting department using a State Board of Education template.

Mandates schools on financial watch or warning lists or certified in financial difficulty to submit cash balance reports to the State Board of Education quarterly instead of monthly.

Requires all school boards to submit quarterly reports to the State Board of Education containing reserve fund amounts, days cash on hand, and investment amounts.

Directs the State Board of Education to publish and maintain all quarterly financial reports on its Internet website for public access.

Takes effect upon becoming law.