Bill Text: IL HB4837 | 2009-2010 | 96th General Assembly | Enrolled

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Bill Title: Amends the Illinois Municipal Code. Provides that municipalities having bonded debt in the amount of $5,000,000 or more and municipalities with a population of 200 or more that have bonded debt in any amount or that own or operate a public utility (instead of all municipalities that have bonded debt or that own or operate a public utility) shall be audited annually. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2010-07-27 - Public Act . . . . . . . . . 96-1309 [HB4837 Detail]

Download: Illinois-2009-HB4837-Enrolled.html

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HB4837 Enrolled LRB096 16207 RLJ 31462 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 Illinois Municipal Code is amended by
changing Section 8-8-3 as follows:
(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
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
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
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
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.)
Section 99. Effective date. This Act takes effect upon
becoming law.