65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/8-8-7

(65 ILCS 5/8-8-7) (from Ch. 24, par. 8-8-7)

Sec. 8-8-7.

When the auditor or auditors have completed the audit,
not less than 2 copies of a report of the audit shall be made and signed by
the making such audit, and shall immediately be filed with the
municipality audited.  Each audit report shall include the certification
of the auditor or auditors making the audit that the audit has been
performed in compliance with generally accepted auditing standards.
The municipality shall immediately make one copy of
the report, or one copy of the report authorized by this Division 8 in lieu
of an audit report, a part of its public records and at all times
thereafter this copy shall be open to public inspection. In addition, the
municipality shall file one copy of the report with the Comptroller.
An audit report which fails to meet the requirements of this Act shall be
rejected by the Comptroller and returned to the municipal authorities for
corrective action.  Nothing in this Section shall be construed as
preventing a municipality, in
filing its audit report with the Comptroller, from transmitting with such
report any comment or explanation that it may desire to make concerning
that report. The audit report filed with the Comptroller, together with any
accompanying comment or explanation, shall immediately become a part of his
public records and shall at all times thereafter be open to public
inspection. It shall be unlawful for the auditor to make any disclosure
of the result of any examination of any public account excepting as he does
so directly to the corporate authorities of the municipality audited.

(Source: P.A. 101-419, eff. 1-1-20.)

65 ILCS 5/8-8-8

(65 ILCS 5/8-8-8) (from Ch. 24, par. 8-8-8)

Sec. 8-8-8.

The expenses of the audit and investigation of public accounts
provided for in Division 8, whether ordered by the corporate authorities
or the Comptroller, shall be paid by the municipality for which the
audit is made. Payment shall be ordered by the corporate authorities out
of the funds of the municipality and it shall be the duty of such
authorities to make provisions for payment. Contracts for the
performance of audits required by this Division 8 may be entered into
without competitive bidding. If the audit is made by an auditor or auditors retained by the Comptroller, the municipality shall pay to
the Comptroller reasonable compensation and expenses to reimburse him
for the cost of making such audit.

The corporate authorities of all municipalities coming under the
provisions of this Division 8 shall have the power to annually levy a
"Municipal Auditing Tax" upon all of the taxable property of the
municipalities at the rate on the dollar which will produce an amount
which will equal a sum sufficient to meet the cost of all auditing and
reports thereunder. Such municipal auditing tax shall be held in a
special fund and used for no other purpose than the payment of expenses
occasioned by this Division 8.

The tax authorized by this Section shall be in addition to taxes for
general corporate purposes authorized under Section 8-3-1 of this Act.

(Source: P.A. 101-419, eff. 1-1-20.)

65 ILCS 5/8-8-9

(65 ILCS 5/8-8-9) (from Ch. 24, par. 8-8-9)

Sec. 8-8-9.

The provisions of the Division 8 shall not be construed
to relieve any officer of any duties now required by law of him with
relation to the auditing of public accounts or the disbursement of
public funds.  Failure of the corporate authorities of any municipality
to comply with any of the provisions of this Division 8 shall not affect
the legality of taxes levied for any of the funds of such municipality.

Notwithstanding any provision to the contrary, any municipality which
files audits or audit reports with the Comptroller in compliance with
this Act shall not be required to file any additional audits or audit
reports with any state governmental agency providing motor fuel tax
funds to such municipality.  Any such state governmental agency may
obtain copies of all audits and audit reports from the Comptroller.

(Source: P.A. 80-423.)

65 ILCS 5/8-8-10

(65 ILCS 5/8-8-10) (from Ch. 24, par. 8-8-10)

Sec. 8-8-10.

The corporate authorities of a municipality may establish
an audit committee, and may appoint members of the corporate authority or
other appropriate officers to the committee, to review audit reports prepared
under this Act and any other financial reports and documents, including
management letters prepared by or on behalf of the municipality.

(Source: P.A. 82-644.)

65 ILCS 5/8-8-10.5

(65 ILCS 5/8-8-10.5)
Sec. 8-8-10.5. Audit report disclosure.

Each fiscal year, within 60 days of the close of an audit under this Act, the auditor conducting the audit of all of the funds and accounts of a municipality shall do each of the following:

(1) Provide a copy of any management letter and a

copy of any audited financial statements to each member of the municipality's corporate authorities. If the municipality maintains an Internet website, the corporate authorities shall post this information to its website.

(2) Present the information from the audit to the

municipality's corporate authorities either in person or by a live phone or web connection during a public meeting.

(Source: P.A. 98-738, eff. 1-1-15.)