|
|
|
|
HB4837 Engrossed |
|
LRB096 16207 RLJ 31462 b |
|
|
| 1 |
| AN ACT concerning local government.
|
| 2 |
| Be it enacted by the People of the State of Illinois,
|
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Illinois Municipal Code is amended by |
| 5 |
| changing Section 8-8-3 as follows:
|
| 6 |
| (65 ILCS 5/8-8-3) (from Ch. 24, par. 8-8-3) |
| 7 |
| Sec. 8-8-3. Audit requirements. |
| 8 |
| (a) The corporate authorities of each municipality coming |
| 9 |
| under the
provisions of this Division 8 shall cause an audit of |
| 10 |
| the funds and
accounts of the municipality to be made by an |
| 11 |
| accountant or accountants
employed by such municipality or by |
| 12 |
| an accountant or accountants retained
by the Comptroller, as |
| 13 |
| hereinafter provided. |
| 14 |
| (b) The accounts and funds of each municipality having a |
| 15 |
| population of 800
or more or having a bonded debt or owning or |
| 16 |
| operating any type of public
utility shall be audited annually. |
| 17 |
| The audit herein required shall include
all of the accounts and |
| 18 |
| funds of the municipality. Such audit shall be
begun as soon as |
| 19 |
| possible after the close of the fiscal year, and shall be
|
| 20 |
| completed and the report submitted within 6 months after the |
| 21 |
| close of such
fiscal year, unless an extension of time shall be |
| 22 |
| granted by the
Comptroller in writing. The accountant or |
| 23 |
| accountants making the audit
shall submit not less than 2 |
|
|
|
HB4837 Engrossed |
- 2 - |
LRB096 16207 RLJ 31462 b |
|
|
| 1 |
| copies of the audit report to the corporate
authorities of the |
| 2 |
| municipality being audited. Municipalities not operating
|
| 3 |
| utilities may cause audits of the accounts of municipalities to |
| 4 |
| be made
more often than herein provided, by an accountant or |
| 5 |
| accountants. The audit
report of such audit when filed with the |
| 6 |
| Comptroller together with an audit
report covering the |
| 7 |
| remainder of the period for which an audit is required
to be |
| 8 |
| filed hereunder shall satisfy the requirements of this Section. |
| 9 |
| (c) Municipalities of less than 800 population which do not |
| 10 |
| own or operate
public utilities and do not have bonded debt, |
| 11 |
| shall file annually with the
Comptroller a financial report |
| 12 |
| containing information required by the
Comptroller. Such |
| 13 |
| annual financial report shall be on forms devised by the
|
| 14 |
| Comptroller in such manner as to not require professional |
| 15 |
| accounting
services for its preparation. |
| 16 |
| (d) In addition to any audit report required, all |
| 17 |
| municipalities, except
municipalities of less than 800 |
| 18 |
| population which do not own or operate
public utilities and do |
| 19 |
| not have bonded debt, shall file annually with the
Comptroller |
| 20 |
| a supplemental report on forms devised and approved by the
|
| 21 |
| Comptroller. |
| 22 |
| (e) Notwithstanding any provision of law to the contrary, |
| 23 |
| if a municipality has (i) a population of less than 200 and |
| 24 |
| (ii) bonded debt in the amount of $500,000 or less, then the |
| 25 |
| municipality shall cause an audit of the funds and accounts of |
| 26 |
| the municipality to be made by an accountant employed by the |