House Sponsors: STEPHENS-DAVIS,STEVE. Senate Sponsors: WATSON-WALSH,L Short description: LOCAL FINANCE-AUDITS Synopsis of Bill as introduced: Amends the Public Funds Statement Publication Act. Removes the requirement that the summary statement of operations to be filed with the public officers' annual statement must be "as excerpted from the annual financial report as filed with the appropriate State agency of the State of Illinois". Amends the Governmental Account Audit Act. Provides that the definition of "governmental unit" or "unit" does not include a drainage district that obtains approval for assessments and expenditures through the circuit court. Defines "report" to include both audit reports and reports filed instead of an audit report by a governmental unit "receiving revenue less than $850,000" (currently, "appropriating less than $200,000") during any fiscal year to which the reports relate. Changes references from "governmental unit appropriating less than $200,000" to "governmental unit receiving revenue of less than $850,000". Changes references from "governmental unit appropriating more than $200,000" to "governmental unit receiving revenue of $850,000 or more". Amends the Township Code. Regarding the independent audit of township accounts, changes references from "townships appropriating $200,000 or more" to "townships receiving revenue of $850,000 or more" and changes references from "townships appropriating less than $200,000" to "townships receiving revenue of less than $850,000". Effective July 1, 2002. Last action on Bill: PUBLIC ACT.............................. 92-0582 Last action date: JUN-26-2002 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status