(50 ILCS 310/4) (from Ch. 85, par. 704)
Sec. 4. Overdue report.
(a) If the required report for a governmental unit is not filed with the
Comptroller in accordance with Section 2 or Section 3, whichever is
applicable, within 180 days after the close of the fiscal year of the
governmental unit, the Comptroller shall notify the governing body of that
unit in writing that the report is due and may also grant a 60-day
extension for the filing of the audit report. If the required report is not
filed within the time specified in such written notice, the Comptroller
shall cause an audit to be made by an auditor, and the
governmental unit shall pay to the Comptroller actual compensation and
expenses to reimburse him or her for the cost of preparing or completing such
report.
(b) The Comptroller may decline to order an audit and the preparation of
an audit report (i) if an initial examination of the books and records of
the
governmental unit indicates that the books and records of the governmental unit
are inadequate or unavailable due to the passage of time or the occurrence of a
natural disaster or (ii) if the Comptroller determines that the cost of an
audit would impose an unreasonable financial burden on the governmental unit.
(c) The State Comptroller may grant extensions for delinquent audits or reports. The Comptroller may charge a governmental unit a fee for a delinquent audit or report of $5 per day for the first 15 days past due, $10 per day for 16 through 30 days past due, $15 per day for 31 through 45 days past due, and $20 per day for the 46th day and every day thereafter. These amounts may be reduced at the Comptroller's discretion. All fees collected under this subsection (c) shall be deposited into the Comptroller's Administrative Fund. (Source: P.A. 101-419, eff. 1-1-20; 102-558, eff. 8-20-21.)
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