Full Text of SB3794 97th General Assembly
SB3794ham002 97TH GENERAL ASSEMBLY | Rep. Michael J. Madigan Filed: 5/11/2012
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| 1 | | AMENDMENT TO SENATE BILL 3794
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 3794 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 1. Short title. This Act may be cited as the | 5 | | Financial Reporting Standards Board Act. | 6 | | Section 5. Definitions. As used in this Act: | 7 | | "Board" means the Financial Reporting Standards Board
| 8 | | created under Section 10 of this Act.
| 9 | | "CAFR" means the Comprehensive Annual Financial Report | 10 | | required under Section 19.5 of the State Comptroller Act. | 11 | | "Comptroller" means the Comptroller of the State of
| 12 | | Illinois.
| 13 | | "GAAP Coordinator" means a designated representative, | 14 | | employed by a State agency or component unit of the State, who | 15 | | is responsible for submission to the Office of the Comptroller | 16 | | all required documentation, as determined by the Office of the |
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| 1 | | Comptroller, necessary for the preparation of the | 2 | | Comprehensive Annual Financial Report. | 3 | | "Internal auditor" means an auditor employed by a State
| 4 | | agency under the Fiscal Control and Internal Auditing Act.
| 5 | | "Licensed Certified Public Accountant" has the meaning
| 6 | | provided in Section 0.03 of the Illinois Public Accounting Act.
| 7 | | "Registered Certified Public Accountant" has the meaning
| 8 | | provided in Section 0.03 of the Illinois Public Accounting Act.
| 9 | | "State agency" means all departments, officers,
| 10 | | commissions, boards, authorities, institutions, universities, | 11 | | foundations, and bodies politic and corporate of the State that | 12 | | are required to submit financial
reporting information to the | 13 | | Office of the Auditor General, the
Office of the Comptroller, | 14 | | or the federal government.
"State agency" does not include the | 15 | | legislative branch or judicial branch. | 16 | | Section 10. Financial Reporting Standards Board;
creation.
| 17 | | (a) There is created the Financial Reporting Standards
| 18 | | Board. The Board shall assist the State in
improving the | 19 | | timeliness, quality, and processing of
financial reporting for | 20 | | the State. | 21 | | (b) The Board shall consist of 3 members appointed by the | 22 | | Comptroller and 3 members appointed by the Governor, all with | 23 | | the advice and consent of the Senate. | 24 | | (c) At least one member appointed by the Comptroller and at | 25 | | least one member appointed by the Governor shall be a licensed |
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| 1 | | or registered Certified Public Accountant. Any member who is | 2 | | not a licensed or registered Certified Public Accountant shall | 3 | | have relevant experience in business, government accounting, | 4 | | or finance. | 5 | | (d) Of the initial members appointed to the Board: one | 6 | | member appointed by the Comptroller and one member appointed by | 7 | | the Governor shall be appointed for a 2-year term; one member | 8 | | appointed by the Comptroller and one member appointed by the | 9 | | Governor shall be appointed for a 3-year term; and one member | 10 | | appointed by the Comptroller and one member appointed by the | 11 | | Governor shall be appointed for a 4-year term. Those members | 12 | | may be reappointed for 4-year terms. Their successors shall be | 13 | | appointed for 4-year terms and may be reappointed. A vacancy on | 14 | | the Board shall be filled for the remainder of the unexpired | 15 | | term, in the same manner and by the same officer who made the | 16 | | original appointment. | 17 | | (e) The Comptroller and the Governor shall each designate | 18 | | one of their appointed members as co-chairperson of the Board. | 19 | | (f) The Board shall meet at least 2 times each year and at | 20 | | other times at the call of the chairpersons. Meetings of the | 21 | | Board shall be subject to the provisions of the Open Meetings | 22 | | Act. | 23 | | (g) The members of the Board shall serve without | 24 | | compensation, but may be reimbursed for expenses. | 25 | | Section 15. Powers. The Board has the following powers: |
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| 1 | | (1) to have a corporate seal, and to alter that seal at
| 2 | | pleasure, and to use it by causing it or a facsimile to be
| 3 | | affixed or impressed or reproduced in any other manner; | 4 | | (2) to use the services of the Office of the | 5 | | Comptroller and the Office of the Governor to carry out the | 6 | | Board's purposes, subject to the approval of the respective | 7 | | office; | 8 | | (3) to assist State agencies with being timely and | 9 | | accurate in the processing of financial reporting for the | 10 | | State by: | 11 | | (A) establishing minimum qualifications for all | 12 | | new GAAP Coordinators, in cooperation with the | 13 | | Comptroller's Division of Financial Reporting; | 14 | | (B) establishing minimum training requirements for | 15 | | GAAP Coordinators, in cooperation with the | 16 | | Comptroller's Division of Financial Reporting; | 17 | | (C) establishing continuing education requirements | 18 | | for GAAP Coordinators, in cooperation with the | 19 | | Comptroller's Division of Financial Reporting; | 20 | | (D) establishing best practice guidelines for GAAP | 21 | | package submissions, in cooperation with the | 22 | | Comptroller's Division of Financial Reporting; and | 23 | | (E) providing assistance during the GAAP cycle, in | 24 | | cooperation with the Comptroller's Financial Reporting | 25 | | Division and the Governor's Office of Management and | 26 | | Budget; |
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| 1 | | (4) to make available to the Comptroller or Governor | 2 | | any information related to the processing of financial | 3 | | reports that the Board may deem
necessary to enable it | 4 | | effectively to carry out the
provisions of this Act;
| 5 | | (5) to promulgate rules with
respect to its operations | 6 | | as
may be necessary to carry out the purposes of
this Act, | 7 | | subject to the provisions of the Illinois
Administrative | 8 | | Procedure Act;
| 9 | | (6) to consult with other states and private
businesses | 10 | | that have successfully modernized and
streamlined their | 11 | | financial reporting systems; | 12 | | (7) to use current State resources that are already
| 13 | | available inside of State government, and to use current
| 14 | | financial reporting principles and practices, including,
| 15 | | but not limited to, principles and practices of the Auditor
| 16 | | General and the Comptroller; and | 17 | | (8) to participate in the development of a statewide | 18 | | GAAP-compliant financial reporting system. | 19 | | Section 20. Audits. | 20 | | (a) The Internal Auditor of every State agency that submits | 21 | | a GAAP package must submit an annual audit of its GAAP and | 22 | | financial statement process, if applicable, to the Board. | 23 | | (b) The Board shall review all information submitted and | 24 | | may prepare a report for the Comptroller and the Governor.
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| 1 | | Section 25. Responsibilities of other parties. | 2 | | (a) The Comptroller's Division of Financial Reporting, in | 3 | | cooperation with the Governor's Office of Management and | 4 | | Budget, shall assist State agencies during the GAAP process and | 5 | | shall review GAAP packages and preparation of the CAFR. | 6 | | (b) The Comptroller's Division of Financial Reporting and | 7 | | the Governor's Office of Management and Budget shall cooperate | 8 | | with the Board in the following matters: | 9 | | (1) the development of a GAAP training program for | 10 | | State agencies; | 11 | | (2) the development of continuing education for | 12 | | employees of State agencies; and | 13 | | (3) the development of detailed standards for GAAP | 14 | | reporting by State agencies. | 15 | | (c) State agencies must adhere to the Board's guidance in | 16 | | regards to GAAP package processing and maintaining minimum | 17 | | standards for qualifications, training, and education for GAAP | 18 | | Coordinators. | 19 | | Section 30. Cooperation. All State agencies must render
| 20 | | full cooperation to the Board and its employees, consistent | 21 | | with and subject to all otherwise applicable laws, regulations, | 22 | | rules and contractual obligations, including collective | 23 | | bargaining agreements, and budget constraints of the agencies. | 24 | | Section 90. Repeal. This Act is repealed on June 30, 2016. |
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| 1 | | Section 100. The Personnel Code is amended by changing | 2 | | Section 4c as follows: | 3 | | (20 ILCS 415/4c) (from Ch. 127, par. 63b104c) | 4 | | Sec. 4c. General exemptions. The following positions in | 5 | | State
service shall be exempt from jurisdictions A, B, and C, | 6 | | unless the
jurisdictions shall be extended as provided in this | 7 | | Act:
| 8 | | (1) All officers elected by the people.
| 9 | | (2) All positions under the Lieutenant Governor, | 10 | | Secretary of State,
State Treasurer, State Comptroller, | 11 | | State Board of Education, Clerk of
the Supreme Court,
| 12 | | Attorney General, and State Board of Elections.
| 13 | | (3) Judges, and officers and employees of the courts, | 14 | | and notaries
public.
| 15 | | (4) All officers and employees of the Illinois General | 16 | | Assembly, all
employees of legislative commissions, all | 17 | | officers and employees of the
Illinois Legislative | 18 | | Reference Bureau, the Legislative
Research Unit, and the | 19 | | Legislative Printing Unit.
| 20 | | (5) All positions in the Illinois National Guard and | 21 | | Illinois State
Guard, paid from federal funds or positions
| 22 | | in the State Military Service filled by enlistment and paid | 23 | | from State
funds.
| 24 | | (6) All employees of the Governor at the executive |
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| 1 | | mansion and on
his immediate personal staff.
| 2 | | (7) Directors of Departments, the Adjutant General, | 3 | | the Assistant
Adjutant General, the Director of the | 4 | | Illinois Emergency
Management Agency, members of boards | 5 | | and commissions, and all other
positions appointed by the | 6 | | Governor by and with the consent of the
Senate.
| 7 | | (8) The presidents, other principal administrative | 8 | | officers, and
teaching, research and extension faculties | 9 | | of
Chicago State University, Eastern Illinois University, | 10 | | Governors State
University, Illinois State University, | 11 | | Northeastern Illinois University,
Northern Illinois | 12 | | University, Western Illinois University, the Illinois
| 13 | | Community College Board, Southern Illinois
University, | 14 | | Illinois Board of Higher Education, University of
| 15 | | Illinois, State Universities Civil Service System, | 16 | | University Retirement
System of Illinois, and the | 17 | | administrative officers and scientific and
technical staff | 18 | | of the Illinois State Museum.
| 19 | | (9) All other employees except the presidents, other | 20 | | principal
administrative officers, and teaching, research | 21 | | and extension faculties
of the universities under the | 22 | | jurisdiction of the Board of Regents and
the colleges and | 23 | | universities under the jurisdiction of the Board of
| 24 | | Governors of State Colleges and Universities, Illinois | 25 | | Community College
Board, Southern Illinois University, | 26 | | Illinois Board of Higher Education,
Board of Governors of |
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| 1 | | State Colleges and Universities, the Board of
Regents, | 2 | | University of Illinois, State Universities Civil Service
| 3 | | System, University Retirement System of Illinois, so long | 4 | | as these are
subject to the provisions of the State | 5 | | Universities Civil Service Act.
| 6 | | (10) The State Police so long as they are subject to | 7 | | the merit
provisions of the State Police Act.
| 8 | | (11) (Blank).
| 9 | | (12) The technical and engineering staffs of the | 10 | | Department of
Transportation, the Department of Nuclear | 11 | | Safety, the Pollution Control
Board, and the Illinois | 12 | | Commerce Commission, and the technical and engineering
| 13 | | staff providing architectural and engineering services in | 14 | | the Department of
Central Management Services.
| 15 | | (13) All employees of the Illinois State Toll Highway | 16 | | Authority.
| 17 | | (14) The Secretary of the Illinois Workers' | 18 | | Compensation Commission.
| 19 | | (15) All persons who are appointed or employed by the | 20 | | Director of
Insurance under authority of Section 202 of the | 21 | | Illinois Insurance Code
to assist the Director of Insurance | 22 | | in discharging his responsibilities
relating to the | 23 | | rehabilitation, liquidation, conservation, and
dissolution | 24 | | of companies that are subject to the jurisdiction of the
| 25 | | Illinois Insurance Code.
| 26 | | (16) All employees of the St. Louis Metropolitan Area |
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| 1 | | Airport
Authority.
| 2 | | (17) All investment officers employed by the Illinois | 3 | | State Board of
Investment.
| 4 | | (18) Employees of the Illinois Young Adult | 5 | | Conservation Corps program,
administered by the Illinois | 6 | | Department of Natural Resources, authorized
grantee under | 7 | | Title VIII of the Comprehensive
Employment and Training Act | 8 | | of 1973, 29 USC 993.
| 9 | | (19) Seasonal employees of the Department of | 10 | | Agriculture for the
operation of the Illinois State Fair | 11 | | and the DuQuoin State Fair, no one
person receiving more | 12 | | than 29 days of such employment in any calendar year.
| 13 | | (20) All "temporary" employees hired under the | 14 | | Department of Natural
Resources' Illinois Conservation | 15 | | Service, a youth
employment program that hires young people | 16 | | to work in State parks for a period
of one year or less.
| 17 | | (21) All hearing officers of the Human Rights | 18 | | Commission.
| 19 | | (22) All employees of the Illinois Mathematics and | 20 | | Science Academy.
| 21 | | (23) All employees of the Kankakee River Valley Area
| 22 | | Airport Authority.
| 23 | | (24) The commissioners and employees of the Executive | 24 | | Ethics
Commission.
| 25 | | (25) The Executive Inspectors General, including | 26 | | special Executive
Inspectors General, and employees of |
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| 1 | | each Office of an
Executive Inspector General.
| 2 | | (26) The commissioners and employees of the | 3 | | Legislative Ethics
Commission.
| 4 | | (27) The Legislative Inspector General, including | 5 | | special Legislative
Inspectors General, and employees of | 6 | | the Office of
the Legislative Inspector General.
| 7 | | (28) The Auditor General's Inspector General and | 8 | | employees of the Office
of the Auditor General's Inspector | 9 | | General.
| 10 | | (29) All employees of the Illinois Power Agency. | 11 | | (30) Employees having demonstrable accounting, | 12 | | financial reporting, or technical expertise who are | 13 | | employed within executive branch agencies that are | 14 | | required to submit to the Office of the Comptroller | 15 | | financial information for the publication of the | 16 | | Comprehensive Annual Financial Report (CAFR). | 17 | | (Source: P.A. 97-618, eff. 10-26-11.)
| 18 | | Section 999. Effective date. This Act takes effect upon | 19 | | becoming law.".
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