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Public Act 096-1309
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| HB4837 Enrolled | LRB096 16207 RLJ 31462 b |
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AN ACT concerning local government.
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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 Illinois Municipal Code is amended by |
changing Section 8-8-3 as follows:
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(65 ILCS 5/8-8-3) (from Ch. 24, par. 8-8-3) |
Sec. 8-8-3. Audit requirements. |
(a) The corporate authorities of each municipality coming |
under the
provisions of this Division 8 shall cause an audit of |
the funds and
accounts of the municipality to be made by an |
accountant or accountants
employed by such municipality or by |
an accountant or accountants retained
by the Comptroller, as |
hereinafter provided. |
(b) The accounts and funds of each municipality having a |
population of 800
or more or having a bonded debt or owning or |
operating any type of public
utility shall be audited annually. |
The audit herein required shall include
all of the accounts and |
funds of the municipality. Such audit shall be
begun as soon as |
possible after the close of the fiscal year, and shall be
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completed and the report submitted within 6 months after the |
close of such
fiscal year, unless an extension of time shall be |
granted by the
Comptroller in writing. The accountant or |
accountants making the audit
shall submit not less than 2 |
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copies of the audit report to the corporate
authorities of the |
municipality being audited. Municipalities not operating
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utilities may cause audits of the accounts of municipalities to |
be made
more often than herein provided, by an accountant or |
accountants. The audit
report of such audit when filed with the |
Comptroller together with an audit
report covering the |
remainder of the period for which an audit is required
to be |
filed hereunder shall satisfy the requirements of this section. |
(c) Municipalities of less than 800 population which do not |
own or operate
public utilities and do not have bonded debt, |
shall file annually with the
Comptroller a financial report |
containing information required by the
Comptroller. Such |
annual financial report shall be on forms devised by the
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Comptroller in such manner as to not require professional |
accounting
services for its preparation. |
(d) In addition to any audit report required, all |
municipalities, except
municipalities of less than 800 |
population which do not own or operate
public utilities and do |
not have bonded debt, shall file annually with the
Comptroller |
a supplemental report on forms devised and approved by the
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Comptroller. |
(e) Notwithstanding any provision of law to the contrary, |
if a municipality (i) has a population of less than 200, (ii) |
has bonded debt in the amount of $50,000 or less, and (iii) |
owns or operates a public utility, then the municipality shall |
cause an audit of the funds and accounts of the municipality to |
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be made by an accountant employed by the municipality or |
retained by the Comptroller for fiscal year 2011 and every |
fourth fiscal year thereafter or until the municipality has a |
population of 200 or more, has bonded debt in excess of |
$50,000, or no longer owns or operates a public utility. |
Nothing in this subsection shall be construed as limiting the |
municipality's duty to file an annual financial report with the |
Comptroller or to comply with the filing requirements |
concerning the county clerk. |
(Source: P.A. 78-592.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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