HB5817 97TH GENERAL ASSEMBLY

LRB097 18679 JDS 63913 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB5817

Introduced 2/16/2012, by Rep. Kay Hatcher

SYNOPSIS AS INTRODUCED:

15 ILCS 405/19.6 new

Amends the State Comptroller Act. With certain exceptions, requires each State agency to report the necessary information to the Comptroller by each October 31 for the Comptroller's publication of the State's comprehensive annual financial report by each December 31. Establishes measures to deal with delinquent or insufficient reports from State agencies, including the Comptroller's withholding of compensation and expense reimbursement of the director or secretary of a delinquent State agency and the development of action plans by delinquent State agencies. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning State government.

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

Section 5. The State Comptroller Act is amended by adding Section 19.6 as follows:

(15 ILCS 405/19.6 new)

Sec. 19.6. Comprehensive Annual Financial Report (CAFR); procedures and reporting.

(a) On or before October 31, 2012, and on or before each October 31 thereafter, State agencies shall report to the Comptroller all financial information deemed necessary by the Comptroller to compile and publish a comprehensive annual financial report using generally accepted accounting principles for the fiscal year ending June 30 of that year. The Comptroller may require certain State agencies to submit the required information before October 31 under a schedule established by the Comptroller. If a State agency has submitted no or insufficient financial information by October 31, the Comptroller shall serve a written notice to each respective State agency director or secretary about the delinquency or inadequacy of the financial information. The Comptroller may withhold the salary and any expense reimbursement of the State agency director or secretary who fails to provide the financial information required by this subsection (a) until the information is submitted to the Comptroller.

(b) If the financial information required in subsection (a) is submitted to the Comptroller on or before October 31 and that information has been audited by the Auditor General, the Comptroller shall publish a comprehensive annual financial report using generally accepted accounting principles for the fiscal year ending June 30 of that year by December 31. If the information as required by subsection (a) is not provided to the Comptroller in time to publish the report by December 31, then upon notice from the Comptroller of the delay, each respective State agency director or secretary shall report his or her State agency's delinquency and provide an action plan to bring his or her State agency into compliance to the Comptroller, the Auditor General, the Office of the Governor, the Speaker and Minority Leader of the House of Representatives, and the President and Minority Leader of the Senate. Upon receiving that report from a State agency director or secretary, the Comptroller shall post that report with the action plan on his or her official website.

(c) If a comprehensive annual financial report using generally accepted accounting principles cannot be published by December 31 due to insufficient or inadequate reporting to the Comptroller or if the Office of the Auditor General has not completed an audit of the comprehensive annual financial report, the Comptroller may issue interim reports containing financial information made available by reporting State agencies until an audit opinion is issued by the Auditor General on the comprehensive annual financial report.

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