Illinois General Assembly - Illinois Compiled Statutes

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60 ILCS 1/80-20

(60 ILCS 1/80-20)

Sec. 80-20.

Independent audit of accounts.

(a) All accounts audited under this Article (and those rejected, if any)
shall be delivered with the certificate of the trustees (or a majority of
them) to the township clerk, who shall keep them on file for the inspection
of any of the inhabitants of the township. They shall also be produced by
the township clerk at the next annual meeting and shall be read at the
meeting by the clerk.

(b) In townships that receive revenue of $850,000 or more during any fiscal
year, exclusive of road funds, the township board shall have the
accounts and all records of the township thoroughly audited by a certified
public accountant within 6 months after the close of each fiscal year.  The
board shall have a copy of the accountant's report and recommendations filed
with the township clerk and another copy filed with the county clerk for public
inspection.

(c) In townships that receive revenue of less than $850,000 during any fiscal
year, exclusive of road funds, the township board shall have the
accounts and all records of the township audited and inspected by an
independent auditing committee composed of 3 township electors chosen by
the board.  The audit shall be completed within 6 months after the close of
each fiscal year. A copy of the auditing committee's report and
recommendations shall be filed with the township clerk and another copy shall
be filed with the county clerk for public inspection.  The auditing
committee shall not contain any member of the township board or
any person related to a trustee.  Members of the auditing committee shall
be proficient in accounting principles and practices and shall be
compensated at a rate determined by the township board but not to exceed
$50 per day.  In addition to the other audit requirements
imposed by law, in townships subject to this subsection, the township board
shall have the accounts and all records of the township thoroughly
audited by a certified public accountant within 6 months after (i) the end
of each term of office of the township supervisor and (ii) a vacancy occurs
in the office of township supervisor.
A copy of the accountant's report and recommendations shall be filed with the
township clerk and another copy shall be filed with the county clerk for public
inspection.

(Source: P.A. 92-582, eff. 7-1-02.)