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| Public Act 095-0295 |
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AN ACT concerning special districts.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Metropolitan Water Reclamation District Act | ||||
is amended by changing Section 5.13 as follows:
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(70 ILCS 2605/5.13) (from Ch. 42, par. 324w)
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Sec. 5.13. The clerk shall prepare on or before the first | ||||
(1st) day of July
of each year after the year 1943, an annual | ||||
financial report which shall
contain financial information | ||||
required by generally accepted accounting principles (GAAP) | ||||
for governments as promulgated and established by the | ||||
Governmental Accounting Standards Board (GASB).
at least the | ||||
following information:
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(1) A separate balance sheet for each fund of the district | ||||
showing the
assets and liabilities in sufficient detail to | ||||
indicate the true financial
condition of each of the several | ||||
funds.
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(2) A combined balance sheet indicating the true financial | ||||
condition of
the district as a whole.
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(3) Statements of income and expense for each fund of the | ||||
district; such
statement shall indicate income by sources, and | ||||
expenses by functions
(activities), organization units and | ||||
objects.
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(4) For each fund of the district a statement of cash | ||
receipts by
sources compared with the estimated receipts for | ||
the year under review and
a condensed statement of cash | ||
disbursements.
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(5) An analysis of surplus statement for each fund of the | ||
district, such
statement shall show the amount of the surplus | ||
at the beginning of the
year, the changes during the year in | ||
sufficient detail to indicate the
specific composition | ||
thereof, and the amount of the surplus at the end of
the year.
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(6) For each fund a statement for the budget year of | ||
expenditures and
encumbrances by organization units, objects | ||
and functions (activities),
showing the amounts appropriated, | ||
the amounts transferred during that year,
adjusted | ||
appropriations, the amounts disbursed, the balance not | ||
disbursed,
the amounts encumbered, the total disbursed and | ||
encumbered and the
unencumbered balance in each item of | ||
appropriation in the budget for that
year.
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(7) An analysis of net taxes receivable by tax years for | ||
each of the tax
levies for five years next preceding the budget | ||
year.
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(8) Such additional tables, charts, graphs, or other | ||
statistical
material as may be deemed desirable by the clerk.
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Provided, however, that the statements to be prepared for | ||
1943 and prior
years, where the accounts have not been kept on | ||
the basis herein
prescribed, shall be compiled on the presently | ||
used basis of accounting and
compiled as nearly as practicable | ||
as herein prescribed.
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Copies of the annual financial report shall be made | ||
conveniently
available in the office of the Sanitary District | ||
to the public and shall be
issued to any person upon payment of | ||
a reasonable amount therefor. Nothing
in this section shall be | ||
construed to mean that the annual financial report
may not be | ||
combined with the annual audit report and the two published
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simultaneously as one report.
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(Source: Laws 1943, vol. 1, p. 599.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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