Illinois General Assembly - Full Text of HB6267
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Full Text of HB6267  96th General Assembly

HB6267eng 96TH GENERAL ASSEMBLY



 


 
HB6267 Engrossed LRB096 18955 JAM 34343 b

1     AN ACT concerning State government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The State Comptroller Act is amended by adding
5 Section 19.5 as follows:
 
6     (15 ILCS 405/19.5 new)
7     Sec. 19.5. Comprehensive Annual Financial Report (CAFR);
8 procedures and reporting.
9     (a) On or before October 31, 2010, and on or before each
10 October 31 thereafter, State agencies shall report to the
11 Comptroller all financial information deemed necessary by the
12 Comptroller to compile and publish a comprehensive annual
13 financial report using generally accepted accounting
14 principles for the fiscal year ending June 30 of that year. The
15 Comptroller may require certain State agencies to submit the
16 required information before October 31 under a schedule
17 established by the Comptroller. If a State agency has submitted
18 no or insufficient financial information by October 31, the
19 Comptroller shall serve a written notice to each respective
20 State agency director or secretary about the delinquency or
21 inadequacy of the financial information. The Comptroller may
22 withhold the salary and any expense reimbursement of the State
23 agency director or secretary who fails to provide the financial

 

 

HB6267 Engrossed - 2 - LRB096 18955 JAM 34343 b

1 information required by this subsection (a) until the
2 information is submitted to the Comptroller.
3     (b) If the financial information required in subsection (a)
4 is submitted to the Comptroller on or before October 31 and
5 that information has been audited by the Auditor General, the
6 Comptroller shall publish a comprehensive annual financial
7 report using generally accepted accounting principles for the
8 fiscal year ending June 30 of that year by December 31. If the
9 information as required by subsection (a) is not provided to
10 the Comptroller in time to publish the report by December 31,
11 then upon notice from the Comptroller of the delay, each
12 respective State agency director or secretary shall report his
13 or her State agency's delinquency and provide an action plan to
14 bring his or her State agency into compliance to the
15 Comptroller, the Auditor General, the Office of the Governor,
16 the Speaker and Minority Leader of the House of
17 Representatives, and the President and Minority Leader of the
18 Senate. Upon receiving that report from a State agency director
19 or secretary, the Comptroller shall post that report with the
20 action plan on his or her official website.
21     (c) If a comprehensive annual financial report using
22 generally accepted accounting principles cannot be published
23 by December 31 due to insufficient or inadequate reporting to
24 the Comptroller or if the Office of the Auditor General has not
25 completed an audit of the comprehensive annual financial
26 report, the Comptroller may issue interim reports containing

 

 

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1 financial information made available by reporting State
2 agencies until an audit opinion is issued by the Auditor
3 General on the comprehensive annual financial report.
 
4     Section 99. Effective date. This Act takes effect upon
5 becoming law.