Sen. John O. Jones
Filed: 4/20/2010
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1 | AMENDMENT TO HOUSE BILL 4837
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2 | AMENDMENT NO. ______. Amend House Bill 4837 by replacing | ||||||
3 | everything after the enacting clause with the following:
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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. |
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1 | The audit herein required shall include
all of the accounts and | ||||||
2 | funds of the municipality. Such audit shall be
begun as soon as | ||||||
3 | possible after the close of the fiscal year, and shall be
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4 | completed and the report submitted within 6 months after the | ||||||
5 | close of such
fiscal year, unless an extension of time shall be | ||||||
6 | granted by the
Comptroller in writing. The accountant or | ||||||
7 | accountants making the audit
shall submit not less than 2 | ||||||
8 | copies of the audit report to the corporate
authorities of the | ||||||
9 | municipality being audited. Municipalities not operating
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10 | utilities may cause audits of the accounts of municipalities to | ||||||
11 | be made
more often than herein provided, by an accountant or | ||||||
12 | accountants. The audit
report of such audit when filed with the | ||||||
13 | Comptroller together with an audit
report covering the | ||||||
14 | remainder of the period for which an audit is required
to be | ||||||
15 | filed hereunder shall satisfy the requirements of this section. | ||||||
16 | (c) Municipalities of less than 800 population which do not | ||||||
17 | own or operate
public utilities and do not have bonded debt, | ||||||
18 | shall file annually with the
Comptroller a financial report | ||||||
19 | containing information required by the
Comptroller. Such | ||||||
20 | annual financial report shall be on forms devised by the
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21 | Comptroller in such manner as to not require professional | ||||||
22 | accounting
services for its preparation. | ||||||
23 | (d) In addition to any audit report required, all | ||||||
24 | municipalities, except
municipalities of less than 800 | ||||||
25 | population which do not own or operate
public utilities and do | ||||||
26 | not have bonded debt, shall file annually with the
Comptroller |
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1 | a supplemental report on forms devised and approved by the
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2 | Comptroller. | ||||||
3 | (e) Notwithstanding any provision of law to the contrary, | ||||||
4 | if a municipality (i) has a population of less than 200, (ii) | ||||||
5 | has bonded debt in the amount of $50,000 or less, and (iii) | ||||||
6 | owns or operates a public utility, then the municipality shall | ||||||
7 | cause an audit of the funds and accounts of the municipality to | ||||||
8 | be made by an accountant employed by the municipality or | ||||||
9 | retained by the Comptroller for fiscal year 2011 and every | ||||||
10 | fourth fiscal year thereafter or until the municipality has a | ||||||
11 | population of 200 or more, has bonded debt in excess of | ||||||
12 | $50,000, or no longer owns or operates a public utility. | ||||||
13 | Nothing in this subsection shall be construed as limiting the | ||||||
14 | municipality's duty to file an annual financial report with the | ||||||
15 | Comptroller or to comply with the filing requirements | ||||||
16 | concerning the county clerk. | ||||||
17 | (Source: P.A. 78-592.)
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18 | Section 99. Effective date. This Act takes effect upon | ||||||
19 | becoming law.".
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