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| Public Act 098-0240 | ||||
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The State Comptroller Act is amended by changing | ||||
Sections 19 and 19.5 as follows:
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(15 ILCS 405/19) (from Ch. 15, par. 219)
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Sec. 19. Financial records - monthly reports - forms. | ||||
(a) The Comptroller comptroller
shall maintain complete, | ||||
accurate and current financial records relating
to State funds | ||||
and to other public funds and assets available to,
encumbered | ||||
or expended by each State agency, including trust funds or
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other moneys not subject to appropriation, setting out all | ||||
revenues,
charges against all funds, fund and appropriation | ||||
balances, interfund
transfers, warrants outstanding and assets | ||||
and encumbrances, in a manner
consistent with the uniform State | ||||
accounting system prescribed by the
Comptroller comptroller. | ||||
Such records shall be public records open to public
inspection.
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(b) The Governor, Treasurer, Director of the
Governor's | ||||
Office of Management and Budget,
Director of Central Management | ||||
Services, Auditor
General, Speaker and
Minority Leader of the | ||||
House of Representatives, and President and
Minority Leader of | ||||
the Senate shall have access to all records and
reports | ||||
received by the Comptroller comptroller from State agencies and | ||||
to all data
and accounts maintained by the Comptroller | ||
comptroller except as otherwise
specifically provided by law. | ||
All other State executive officers and
heads of State agencies | ||
shall have access to reports and accounts
relating to their | ||
agency or office.
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(c) The Comptroller shall make a report to the Speaker and | ||
Minority Leader
of the House of Representatives, the President | ||
and Minority Leader of the
Senate, and the Chairman and | ||
Minority Spokesman of each of the appropriations
committees of | ||
the House of Representatives and the Senate giving notice | ||
within
10 days of the establishment of each fund or account | ||
consisting of funds
not subject to appropriation by the General | ||
Assembly.
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Each month the Comptroller comptroller shall prepare a | ||
report summarizing by
State agency and appropriation the above | ||
information in such form as
will most clearly and accurately | ||
set out the current fiscal condition of
the State.
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In addition, each month the Comptroller comptroller shall | ||
prepare a report by
detail object account in such form as will | ||
most clearly present the
status of such accounts.
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(d) The Comptroller comptroller shall prescribe forms for | ||
the periodic reporting of
financial accounts, transactions and | ||
other matters by State agencies,
compatible with the reports | ||
required of the Comptroller comptroller under this
Section.
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(e) The reports required of the Comptroller under | ||
subsection (c) of this Section shall be posted on the website | ||
of the Office of the Comptroller. | ||
(Source: P.A. 94-793, eff. 5-19-06.)
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(15 ILCS 405/19.5) | ||
Sec. 19.5. Comprehensive Annual Financial Report (CAFR); | ||
procedures and reporting. | ||
(a) On or before October 31, 2012, and on or before each | ||
October 31 thereafter, State agencies shall report to the | ||
Comptroller all financial information deemed necessary by the | ||
Comptroller to compile and publish a comprehensive annual | ||
financial report using generally accepted accounting | ||
principles for the fiscal year ending June 30 of that year. The | ||
Comptroller may require certain State agencies to submit the | ||
required information before October 31 under a schedule | ||
established by the Comptroller. If a State agency has submitted | ||
no or insufficient financial information by October 31, the | ||
Comptroller shall serve a written notice to each respective | ||
State agency director or secretary about the delinquency or | ||
inadequacy of the financial information. | ||
(b) If the financial information required in subsection (a) | ||
is submitted to the Comptroller on or before October 31, the | ||
lapse period is not extended past August 31 for the given | ||
fiscal year, and the Office of the Auditor General has | ||
completed an audit of the comprehensive annual financial report | ||
and that information has been audited by the Auditor General, | ||
then the Comptroller shall publish a comprehensive annual | ||
financial report using generally accepted accounting | ||
principles for the fiscal year ending June 30 of that year by | ||
December 31. If the information as required by subsection (a) | ||
is not provided to the Comptroller in time to publish the | ||
report by December 31, then upon notice from the Comptroller of | ||
the delay, each respective State agency director or secretary | ||
shall report his or her State agency's delinquency and provide | ||
an action plan to bring his or her State agency into compliance | ||
to the Comptroller, the Auditor General, the Office of the | ||
Governor, the Speaker and Minority Leader of the House of | ||
Representatives, and the President and Minority Leader of the | ||
Senate. Upon receiving that report from a State agency director | ||
or secretary, the Comptroller shall post that report with the | ||
action plan on his or her official website. | ||
(c) If a comprehensive annual financial report using | ||
generally accepted accounting principles cannot be published | ||
by December 31 due to insufficient or inadequate reporting to | ||
the Comptroller, the lapse period is extended past August 31 | ||
for the given fiscal year, or if the Office of the Auditor | ||
General has not completed an audit of the comprehensive annual | ||
financial report, then the Comptroller may issue interim | ||
reports containing financial information made available by | ||
reporting State agencies until an audit opinion is issued by | ||
the Auditor General on the comprehensive annual financial | ||
report.
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(Source: P.A. 97-408, eff. 8-16-11.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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