Regional Office of Education #45: Monroe and Randolph Counties. Financial Audit for the Year Ended June 30, 2011
The Public Funds Deposit Act (30 ILCS 225/1) gives the authorization for deposits in excess of the federally insured limit to be covered by pledged collateral held by the financial institutions trust departments in the Regional Office of Education #45s name. In addition, prudent business practice requires that all cash and investments held by financial institutions for the ROE be adequately covered by depository insurance or collateral.