Public Act 098-1019
 
HB4811 EnrolledLRB098 16578 JLK 51646 b



    AN ACT concerning local government.

 
    Be it enacted by the People of the State of Illinois, 
represented in the General Assembly: 



 
    Section 5. The Governmental Account Audit Act is amended  by 
changing Section 3 as follows:
 



    (50 ILCS 310/3)  (from Ch. 85, par. 703)



    Sec. 3. 
Any governmental unit receiving revenue of less 
than $850,000 for any fiscal year shall,
in lieu of complying 
with the requirements of Section 2 for audits and
audit 
reports, beginning with fiscal year 2016, either: (i) cause an 
audit of the accounts of the unit to be made once every 4 years 
and file with the Comptroller an annual a financial report 
containing
information required by the Comptroller, or (ii) 
file with the Comptroller an annual financial report containing 
information required by the Comptroller, a copy of which has 
been provided to each member of that governmental unit's board 
of elected officials, presented either in person or by a live 
phone or web connection during a public meeting, and approved 
by a 3/5 majority vote.  In addition, a governmental unit

receiving revenue of less than $850,000
may file with the 
Comptroller any audit
reports which may have been prepared 
under any other law. Any governmental
unit receiving revenue of 
$850,000 or more for
any fiscal year shall, in addition
to 
complying with the requirements of Section 2 for audits and 
audit
reports, file with the Comptroller the financial report 
required by this
Section.  Such financial reports shall be on 
forms so designed by the
Comptroller as not to require 
professional accounting services for its
preparation. All 
reports to be filed with the Comptroller under this Section 
must be submitted electronically and the Comptroller must post 
the reports on the Internet no later than 45 days after they 
are received.  If the governmental unit provides the 
Comptroller's Office with sufficient evidence that the report 
cannot be filed electronically, the Comptroller may waive this 
requirement.  The Comptroller must also post a list of 
governmental units that are not in compliance with the 
reporting requirements set forth in this Section. 

    Any financial report under this Section shall include the 
name of the purchasing agent who oversees all competitively bid 
contracts. If there is no purchasing agent, the name of the 
person responsible for oversight of all competitively bid 
contracts shall be listed. 
(Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12.)


 
    Section 99. Effective date. This Act takes effect July 1, 
2015.

Effective Date:  7/1/2015