HB0792 Engrossed

LRB095 04917 HLH 24983 b






1
    AN ACT concerning special districts.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Metropolitan Water Reclamation District Act 
5
is amended  by changing Section 5.13 as follows:
 



6
    (70 ILCS 2605/5.13)  (from Ch. 42, par. 324w)



7
    Sec. 5.13. The clerk shall prepare on or before the first 
8
(1st) day of July
of each year after the year 1943, an annual 
9
financial report which shall
contain financial information 
10
required by generally accepted accounting principles (GAAP) 
11
for governments as promulgated and established by the 
12
Governmental Accounting Standards Board (GASB).
at least the 
13
following information:

14
    (1) A separate balance sheet for each fund of the district 
15
showing the
assets and liabilities in sufficient detail to 
16
indicate the true financial
condition of each of the several 
17
funds.

18
    (2) A combined balance sheet indicating the true financial 
19
condition of
the district as a whole.

20
    (3) Statements of income and expense for each fund of the 
21
district; such
statement shall indicate income by sources, and 
22
expenses by functions
(activities), organization units and 
23
objects.

 


 






HB0792 Engrossed
- 2 -
LRB095 04917 HLH 24983 b




1
    (4) For each fund of the district a statement of cash 
2
receipts by
sources compared with the estimated receipts for 
3
the year under review and
a condensed statement of cash 
4
disbursements.

5
    (5) An analysis of surplus statement for each fund of the 
6
district, such
statement shall show the amount of the surplus 
7
at the beginning of the
year, the changes during the year in 
8
sufficient detail to indicate the
specific composition 
9
thereof, and the amount of the surplus at the end of
the year.

10
    (6) For each fund a statement for the budget year of 
11
expenditures and
encumbrances by organization units, objects 
12
and functions (activities),
showing the amounts appropriated, 
13
the amounts transferred during that year,
adjusted 
14
appropriations, the amounts disbursed, the balance not 
15
disbursed,
the amounts encumbered, the total disbursed and 
16
encumbered and the
unencumbered balance in each item of 
17
appropriation in the budget for that
year.

18
    (7) An analysis of net taxes receivable by tax years for 
19
each of the tax
levies for five years next preceding the budget 
20
year.

21
    (8) Such additional tables, charts, graphs, or other 
22
statistical
material as may be deemed desirable by the clerk.

23
    Provided, however, that the statements to be prepared for 
24
1943 and prior
years, where the accounts have not been kept on 
25
the basis herein
prescribed, shall be compiled on the presently 
26
used basis of accounting and
compiled as nearly as practicable 
 


 






HB0792 Engrossed
- 3 -
LRB095 04917 HLH 24983 b




1
as herein prescribed.

2
    Copies of the annual financial report shall be made 
3
conveniently
available in the office of the Sanitary District 
4
to the public and shall be
issued to any person upon payment of 
5
a reasonable amount therefor. Nothing
in this section shall be 
6
construed to mean that the annual financial report
may not be 
7
combined with the annual audit report and the two published

8
simultaneously as one report.

9
(Source: Laws 1943, vol. 1, p. 599.)

 

10
    Section 99. Effective date. This Act takes effect upon 
11
becoming law.