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ARTICLE VIII FINANCE.
SECTION 2. STATE FINANCE
(a) The Governor shall prepare and submit to the General
Assembly, at a time prescribed by law, a State budget for the
ensuing fiscal year. The budget shall set forth the estimated
balance of funds available for appropriation at the beginning
of the fiscal year, the estimated receipts, and a plan for
expenditures and obligations during the fiscal year of every
department, authority, public corporation and quasi-public
corporation of the State, every State college and university,
and every other public agency created by the State, but not
of units of local government or school districts. The budget
shall also set forth the indebtedness and contingent
liabilities of the State and such other information as may be
required by law. Proposed expenditures shall not exceed funds
estimated to be available for the fiscal year as shown in the
budget.
(b) The General Assembly by law shall make
appropriations for all expenditures of public funds by the
State. Appropriations for a fiscal year shall not exceed
funds estimated by the General Assembly to be available
during that year.
(Source: Illinois Constitution.)
