Bill Text: IL HB4811 | 2013-2014 | 98th General Assembly | Chaptered

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Bill Title: Amends the Governmental Account Audit Act. Makes a technical change in a Section concerning reports to the Comptroller.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2014-08-22 - Public Act . . . . . . . . . 98-1019 [HB4811 Detail]

Download: Illinois-2013-HB4811-Chaptered.html

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Public Act 098-1019
HB4811 Enrolled LRB098 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.)