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[ Senate Amendment 002 ] |
90_HB1180eng 110 ILCS 805/3-22.1 from Ch. 122, par. 103-22.1 Amends the Public Community College Act. Provides that the board of community college districts shall be required to file the uniform financial statements from the audit report (now the audit report) with the State Board. LRB9002809LDdv HB1180 Engrossed LRB9002809LDdv 1 AN ACT to amend the Public Community College Act by 2 changing Section 3-22.1. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Public Community College Act is amended 6 by changing Section 3-22.1 as follows: 7 (110 ILCS 805/3-22.1) (from Ch. 122, par. 103-22.1) 8 Sec. 3-22.1. To cause an audit to be made as of the end 9 of each fiscal year by an accountant licensed to practice 10 public accounting in Illinois and appointed by the board. The 11 auditor shall perform his or her examination in accordance 12 with generally accepted auditing standards and regulations 13 prescribed by the State Board, and submit his or her report 14 thereon in accordance with generally accepted accounting 15 principles. The examination and report shall include a 16 verification of student enrollments and any other bases upon 17 which claims are filed with the State Board. The audit report 18 shall include a statement of the scope and findings of the 19 audit and a professional opinion signed by the auditor. If a 20 professional opinion is denied by the auditor he or she shall 21 set forth the reasons for that denial. The board shall not 22 limit the scope of the examination to the extent that the 23 effect of such limitation will result in the qualification of 24 the auditor's professional opinion. The procedures for 25 payment for the expenses of the audit shall be in accordance 26 with Section 9 of the Governmental Account Audit Act. Copies 27 of the audit report shall be filed with the State Board in 28 accordance with regulations prescribed by the State Board. 29 The State Board shall file one copy of the audit report with 30 the Auditor General. The State Board shall file copies of 31 the uniform financial statements from the audit reportandHB1180 Engrossed -2- LRB9002809LDdv 1one copywith the Board of Higher Education. 2 (Source: P.A. 87-246.)