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A writer posed the following question to me, “Why wasn't the Education Fund's $2,660,000 interfund loan from the Working Cash Fund repaid upon the receipt of the tax levy?”

This is an excellent question.

On July 26, 2010, Governor Quinn signed into law HB 6041. This law amended Article 20 of the School Code of the State of Illinois.  One of the provisions of the law allows school districts to permanently abate monies in its Working Cash fund to any other fund.

This is exactly what the District did this past school year.  A permanent transfer was made; therefore, there was not an interfund loan from the Working Cash fund necessitating the funds be repaid to Working Cash.