Illinois Compiled Statutes 40 ILCS 5/6-188 – To submit annual report to city council
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/6-188
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
To submit a report annually in June to the city council. The report shall be made as of the close of business on December 31st of the preceding year, and shall contain a detailed statement of the affairs of the fund, its income and disbursements for such year, its assets and liabilities, and the status of the fund reserves.