Bill Text: IL HB4837 | 2009-2010 | 96th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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-Introduced.html
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-Introduced.html
|
|||||||||||||||||||||||||
|
|||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
1 | AN ACT concerning local government.
| ||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||
4 | Section 5. The Illinois Municipal Code is amended by | ||||||||||||||||||||||||
5 | changing Section 8-8-3 as follows:
| ||||||||||||||||||||||||
6 | (65 ILCS 5/8-8-3) (from Ch. 24, par. 8-8-3)
| ||||||||||||||||||||||||
7 | Sec. 8-8-3. Annual audit. | ||||||||||||||||||||||||
8 | (a) The corporate authorities of each municipality coming | ||||||||||||||||||||||||
9 | under the
provisions of this Division 8 shall cause an audit of | ||||||||||||||||||||||||
10 | the funds and
accounts of the municipality to be made by an | ||||||||||||||||||||||||
11 | accountant or accountants
employed by such municipality or by | ||||||||||||||||||||||||
12 | an accountant or accountants retained
by the Comptroller, as | ||||||||||||||||||||||||
13 | hereinafter provided.
| ||||||||||||||||||||||||
14 | (b) The accounts and funds of each municipality (i) having | ||||||||||||||||||||||||
15 | a population of 800
or more ; (ii) having bonded debt in the | ||||||||||||||||||||||||
16 | amount of $5,000,000 or more; (iii) having a population of 200 | ||||||||||||||||||||||||
17 | or more and
or having a bonded debt in any amount; or (iv) | ||||||||||||||||||||||||
18 | having a population of 200 or more and owning or operating any | ||||||||||||||||||||||||
19 | type of public
utility shall be audited annually. The audit | ||||||||||||||||||||||||
20 | herein required shall include
all of the accounts and funds of | ||||||||||||||||||||||||
21 | the municipality. Such audit shall be
begun as soon as possible | ||||||||||||||||||||||||
22 | after the close of the fiscal year, and shall be
completed and | ||||||||||||||||||||||||
23 | the report submitted within 6 months after the close of such
|
| |||||||
| |||||||
1 | fiscal year, unless an extension of time shall be granted by | ||||||
2 | the
Comptroller in writing. The accountant or accountants | ||||||
3 | making the audit
shall submit not less than 2 copies of the | ||||||
4 | audit report to the corporate
authorities of the municipality | ||||||
5 | being audited. Municipalities not operating
utilities may | ||||||
6 | cause audits of the accounts of municipalities to be made
more | ||||||
7 | often than herein provided, by an accountant or accountants. | ||||||
8 | The audit
report of such audit when filed with the Comptroller | ||||||
9 | together with an audit
report covering the remainder of the | ||||||
10 | period for which an audit is required
to be filed hereunder | ||||||
11 | shall satisfy the requirements of this Section.
| ||||||
12 | (c) Municipalities of less than 800 population that are not | ||||||
13 | subject to subsection (b) of this Section
which do not own or | ||||||
14 | operate
public utilities and do not have bonded debt, shall | ||||||
15 | file annually with the
Comptroller a financial report | ||||||
16 | containing information required by the
Comptroller. Such | ||||||
17 | annual financial report shall be on forms devised by the
| ||||||
18 | Comptroller in such manner as to not require professional | ||||||
19 | accounting
services for its preparation.
| ||||||
20 | In addition to any audit report required, all | ||||||
21 | municipalities, except
municipalities that are not subject to | ||||||
22 | subsection (b) of this Section
of less than 800 population | ||||||
23 | which do not own or operate
public utilities and do not have | ||||||
24 | bonded debt , shall file annually with the
Comptroller a | ||||||
25 | supplemental report on forms devised and approved by the
| ||||||
26 | Comptroller.
|
| |||||||
| |||||||
1 | (Source: P.A. 78-592.)
| ||||||
2 | Section 99. Effective date. This Act takes effect upon | ||||||
3 | becoming law.
|