Full Text of HB4811 98th General Assembly
HB4811eng 98TH GENERAL ASSEMBLY |
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| 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 Governmental Account Audit Act is amended by | 5 | | changing Sections 2 and 3 as follows:
| 6 | | (50 ILCS 310/2) (from Ch. 85, par. 702)
| 7 | | Sec. 2.
Except as otherwise provided in Section 3, the | 8 | | governing body of
each governmental unit shall cause an audit | 9 | | of the accounts of the unit to be
made by a licensed public | 10 | | accountant. Such audit shall be made annually and
shall cover | 11 | | the immediately preceding fiscal year of the governmental unit. | 12 | | Notwithstanding the requirements of this Section, the | 13 | | governing body of a governmental unit receiving revenue of less | 14 | | than $850,000 for any fiscal year shall cause an audit of the | 15 | | accounts of the unit to be made once every 4 years, beginning | 16 | | with fiscal year 2016.
The audit shall include all the accounts | 17 | | and funds of the governmental
unit, including the accounts of | 18 | | any officer of the governmental unit who
receives fees or | 19 | | handles funds of the unit or who spends money of the unit.
The | 20 | | audit shall begin as soon as possible after the close of the | 21 | | last
fiscal year to which it pertains, and shall be completed | 22 | | and the audit
report filed with the Comptroller within 6 months | 23 | | after the close of such
fiscal year unless an extension of time |
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| 1 | | is granted by the Comptroller in
writing. An audit report which | 2 | | fails to meet the requirements of this
Act shall be rejected by | 3 | | the Comptroller and returned to the governing body
of the | 4 | | governmental unit for corrective action. The
licensed public | 5 | | accountant making the audit shall submit not
less than 3 copies | 6 | | of the audit report to the governing body of the
governmental | 7 | | unit being audited. | 8 | | All audits to be filed with the Comptroller under this | 9 | | Section must be submitted electronically and the Comptroller | 10 | | must post the audit reports on the Internet no later than 45 | 11 | | days after they are received. If the governmental unit provides | 12 | | the Comptroller's Office with sufficient evidence that the | 13 | | audit report cannot be filed electronically, the Comptroller | 14 | | may waive this requirement. The Comptroller must also post a | 15 | | list of governmental units that are not in compliance with the | 16 | | reporting requirements set forth in this Section. | 17 | | Any financial report under this Section shall include the | 18 | | name of the purchasing agent who oversees all competitively bid | 19 | | contracts. If there is no purchasing agent, the name of the | 20 | | person responsible for oversight of all competitively bid | 21 | | contracts shall be listed.
| 22 | | (Source: P.A. 97-932, eff. 8-10-12; 97-1142, eff. 12-28-12.)
| 23 | | (50 ILCS 310/3) (from Ch. 85, par. 703)
| 24 | | Sec. 3.
Any governmental unit receiving revenue of less | 25 | | than $850,000 for any fiscal year shall ,
in lieu of complying |
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| 1 | | with the requirements of Section 2 for audits and
audit | 2 | | reports, file with the Comptroller a financial report | 3 | | containing
information required by the Comptroller each of the | 4 | | 3 years between audits that are conducted under Section 2 . In | 5 | | addition, a governmental unit
receiving revenue of less than | 6 | | $850,000
may file with the Comptroller any audit
reports which | 7 | | may have been prepared under any other law. Any governmental
| 8 | | unit receiving revenue of $850,000 or more for
any fiscal year | 9 | | shall, in addition
to complying with the requirements of | 10 | | Section 2 for audits and audit
reports, file with the | 11 | | Comptroller the financial report required by this
Section. Such | 12 | | financial reports shall be on forms so designed by the
| 13 | | Comptroller as not to require professional accounting services | 14 | | for its
preparation. All reports to be filed with the | 15 | | Comptroller under this Section must be submitted | 16 | | electronically and the Comptroller must post the reports on the | 17 | | Internet no later than 45 days after they are received. If the | 18 | | governmental unit provides the Comptroller's Office with | 19 | | sufficient evidence that the report cannot be filed | 20 | | electronically, the Comptroller may waive this requirement. | 21 | | The Comptroller must also post a list of governmental units | 22 | | that are not in compliance with the reporting requirements set | 23 | | forth in this Section.
| 24 | | Any financial report under this Section shall include the | 25 | | name of the purchasing agent who oversees all competitively bid | 26 | | contracts. If there is no purchasing agent, the name of the |
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| 1 | | person responsible for oversight of all competitively bid | 2 | | contracts shall be listed. | 3 | | (Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12.)
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