HB0792 Enrolled

LRB095 04917 HLH 24983 b






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    AN ACT concerning special districts.

 
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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 Metropolitan Water Reclamation District Act 
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is amended  by changing Section 5.13 as follows:
 



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    (70 ILCS 2605/5.13)  (from Ch. 42, par. 324w)



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    Sec. 5.13. The clerk shall prepare on or before the first 
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(1st) day of July
of each year after the year 1943, an annual 
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financial report which shall
contain financial information 
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required by generally accepted accounting principles (GAAP) 
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for governments as promulgated and established by the 
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Governmental Accounting Standards Board (GASB).
at least the 
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following information:

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    (1) A separate balance sheet for each fund of the district 
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showing the
assets and liabilities in sufficient detail to 
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indicate the true financial
condition of each of the several 
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funds.

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    (2) A combined balance sheet indicating the true financial 
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condition of
the district as a whole.

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    (3) Statements of income and expense for each fund of the 
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district; such
statement shall indicate income by sources, and 
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expenses by functions
(activities), organization units and 
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objects.

 


 






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    (4) For each fund of the district a statement of cash 
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receipts by
sources compared with the estimated receipts for 
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the year under review and
a condensed statement of cash 
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disbursements.

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    (5) An analysis of surplus statement for each fund of the 
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district, such
statement shall show the amount of the surplus 
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at the beginning of the
year, the changes during the year in 
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sufficient detail to indicate the
specific composition 
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thereof, and the amount of the surplus at the end of
the year.

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    (6) For each fund a statement for the budget year of 
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expenditures and
encumbrances by organization units, objects 
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and functions (activities),
showing the amounts appropriated, 
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the amounts transferred during that year,
adjusted 
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appropriations, the amounts disbursed, the balance not 
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disbursed,
the amounts encumbered, the total disbursed and 
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encumbered and the
unencumbered balance in each item of 
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appropriation in the budget for that
year.

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    (7) An analysis of net taxes receivable by tax years for 
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each of the tax
levies for five years next preceding the budget 
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year.

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    (8) Such additional tables, charts, graphs, or other 
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statistical
material as may be deemed desirable by the clerk.

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    Provided, however, that the statements to be prepared for 
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1943 and prior
years, where the accounts have not been kept on 
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the basis herein
prescribed, shall be compiled on the presently 
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used basis of accounting and
compiled as nearly as practicable 
 


 






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as herein prescribed.

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    Copies of the annual financial report shall be made 
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conveniently
available in the office of the Sanitary District 
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to the public and shall be
issued to any person upon payment of 
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a reasonable amount therefor. Nothing
in this section shall be 
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construed to mean that the annual financial report
may not be 
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combined with the annual audit report and the two published

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simultaneously as one report.

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(Source: Laws 1943, vol. 1, p. 599.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.