Illinois General Assembly - Full Text of HB4811
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Full Text of HB4811  98th General Assembly

HB4811ham001 98TH GENERAL ASSEMBLY

Rep. Joe Sosnowski

Filed: 4/1/2014

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 4811

2    AMENDMENT NO. ______. Amend House Bill 4811 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Governmental Account Audit Act is amended
5by 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
8governing body of each governmental unit shall cause an audit
9of the accounts of the unit to be made by a licensed public
10accountant. Such audit shall be made annually and shall cover
11the immediately preceding fiscal year of the governmental unit.
12Notwithstanding the requirements of this Section, the
13governing body of a governmental unit receiving revenue of less
14than $850,000 for any fiscal year shall cause an audit of the
15accounts of the unit to be made once every 3 years, beginning
16with fiscal year 2016. The audit shall include all the accounts

 

 

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1and funds of the governmental unit, including the accounts of
2any officer of the governmental unit who receives fees or
3handles funds of the unit or who spends money of the unit. The
4audit shall begin as soon as possible after the close of the
5last fiscal year to which it pertains, and shall be completed
6and the audit report filed with the Comptroller within 6 months
7after the close of such fiscal year unless an extension of time
8is granted by the Comptroller in writing. An audit report which
9fails to meet the requirements of this Act shall be rejected by
10the Comptroller and returned to the governing body of the
11governmental unit for corrective action. The licensed public
12accountant making the audit shall submit not less than 3 copies
13of the audit report to the governing body of the governmental
14unit being audited.
15    All audits to be filed with the Comptroller under this
16Section must be submitted electronically and the Comptroller
17must post the audit reports on the Internet no later than 45
18days after they are received. If the governmental unit provides
19the Comptroller's Office with sufficient evidence that the
20audit report cannot be filed electronically, the Comptroller
21may waive this requirement. The Comptroller must also post a
22list of governmental units that are not in compliance with the
23reporting requirements set forth in this Section.
24    Any financial report under this Section shall include the
25name of the purchasing agent who oversees all competitively bid
26contracts. If there is no purchasing agent, the name of the

 

 

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1person responsible for oversight of all competitively bid
2contracts shall be listed.
3(Source: P.A. 97-932, eff. 8-10-12; 97-1142, eff. 12-28-12.)
 
4    (50 ILCS 310/3)  (from Ch. 85, par. 703)
5    Sec. 3. Any governmental unit receiving revenue of less
6than $850,000 for any fiscal year shall, in lieu of complying
7with the requirements of Section 2 for audits and audit
8reports, file with the Comptroller a financial report
9containing information required by the Comptroller each of the
102 years between audits that are conducted under Section 2. In
11addition, a governmental unit receiving revenue of less than
12$850,000 may file with the Comptroller any audit reports which
13may have been prepared under any other law. Any governmental
14unit receiving revenue of $850,000 or more for any fiscal year
15shall, in addition to complying with the requirements of
16Section 2 for audits and audit reports, file with the
17Comptroller the financial report required by this Section. Such
18financial reports shall be on forms so designed by the
19Comptroller as not to require professional accounting services
20for its preparation. All reports to be filed with the
21Comptroller under this Section must be submitted
22electronically and the Comptroller must post the reports on the
23Internet no later than 45 days after they are received. If the
24governmental unit provides the Comptroller's Office with
25sufficient evidence that the report cannot be filed

 

 

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1electronically, the Comptroller may waive this requirement.
2The Comptroller must also post a list of governmental units
3that are not in compliance with the reporting requirements set
4forth in this Section.
5    Any financial report under this Section shall include the
6name of the purchasing agent who oversees all competitively bid
7contracts. If there is no purchasing agent, the name of the
8person responsible for oversight of all competitively bid
9contracts shall be listed.
10(Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12.)".