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Rep. Joe Sosnowski
Filed: 4/1/2014
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| 1 | | AMENDMENT TO HOUSE BILL 4811
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| 2 | | AMENDMENT NO. ______. Amend House Bill 4811 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Governmental Account Audit Act is amended |
| 5 | | by changing Sections 2 and 3 as follows:
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| 6 | | (50 ILCS 310/2) (from Ch. 85, par. 702)
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| 7 | | Sec. 2.
Except as otherwise provided in Section 3, the |
| 8 | | governing body of
each governmental unit shall cause an audit |
| 9 | | of the accounts of the unit to be
made by a licensed public |
| 10 | | accountant. Such audit shall be made annually and
shall cover |
| 11 | | the immediately preceding fiscal year of the governmental unit. |
| 12 | | Notwithstanding the requirements of this Section, the |
| 13 | | governing body of a governmental unit receiving revenue of less |
| 14 | | than $850,000 for any fiscal year shall cause an audit of the |
| 15 | | accounts of the unit to be made once every 3 years, beginning |
| 16 | | with fiscal year 2016.
The audit shall include all the accounts |
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| 1 | | and funds of the governmental
unit, including the accounts of |
| 2 | | any officer of the governmental unit who
receives fees or |
| 3 | | handles funds of the unit or who spends money of the unit.
The |
| 4 | | audit shall begin as soon as possible after the close of the |
| 5 | | last
fiscal year to which it pertains, and shall be completed |
| 6 | | and the audit
report filed with the Comptroller within 6 months |
| 7 | | after the close of such
fiscal year unless an extension of time |
| 8 | | is granted by the Comptroller in
writing. An audit report which |
| 9 | | fails to meet the requirements of this
Act shall be rejected by |
| 10 | | the Comptroller and returned to the governing body
of the |
| 11 | | governmental unit for corrective action. The
licensed public |
| 12 | | accountant making the audit shall submit not
less than 3 copies |
| 13 | | of the audit report to the governing body of the
governmental |
| 14 | | unit being audited. |
| 15 | | All audits to be filed with the Comptroller under this |
| 16 | | Section must be submitted electronically and the Comptroller |
| 17 | | must post the audit reports on the Internet no later than 45 |
| 18 | | days after they are received. If the governmental unit provides |
| 19 | | the Comptroller's Office with sufficient evidence that the |
| 20 | | audit report cannot be filed electronically, the Comptroller |
| 21 | | may waive this requirement. The Comptroller must also post a |
| 22 | | list of governmental units that are not in compliance with the |
| 23 | | reporting requirements set forth in this Section. |
| 24 | | Any financial report under this Section shall include the |
| 25 | | name of the purchasing agent who oversees all competitively bid |
| 26 | | contracts. If there is no purchasing agent, the name of the |
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| 1 | | person responsible for oversight of all competitively bid |
| 2 | | contracts shall be listed.
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| 3 | | (Source: P.A. 97-932, eff. 8-10-12; 97-1142, eff. 12-28-12.)
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| 4 | | (50 ILCS 310/3) (from Ch. 85, par. 703)
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| 5 | | Sec. 3.
Any governmental unit receiving revenue of less |
| 6 | | than $850,000 for any fiscal year shall,
in lieu of complying |
| 7 | | with the requirements of Section 2 for audits and
audit |
| 8 | | reports, file with the Comptroller a financial report |
| 9 | | containing
information required by the Comptroller each of the |
| 10 | | 2 years between audits that are conducted under Section 2. In |
| 11 | | addition, a governmental unit
receiving revenue of less than |
| 12 | | $850,000
may file with the Comptroller any audit
reports which |
| 13 | | may have been prepared under any other law. Any governmental
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| 14 | | unit receiving revenue of $850,000 or more for
any fiscal year |
| 15 | | shall, in addition
to complying with the requirements of |
| 16 | | Section 2 for audits and audit
reports, file with the |
| 17 | | Comptroller the financial report required by this
Section. Such |
| 18 | | financial reports shall be on forms so designed by the
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| 19 | | Comptroller as not to require professional accounting services |
| 20 | | for its
preparation. All reports to be filed with the |
| 21 | | Comptroller under this Section must be submitted |
| 22 | | electronically and the Comptroller must post the reports on the |
| 23 | | Internet no later than 45 days after they are received. If the |
| 24 | | governmental unit provides the Comptroller's Office with |
| 25 | | sufficient evidence that the report cannot be filed |
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| 1 | | electronically, the Comptroller may waive this requirement. |
| 2 | | The Comptroller must also post a list of governmental units |
| 3 | | that are not in compliance with the reporting requirements set |
| 4 | | forth in this Section.
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| 5 | | Any financial report under this Section shall include the |
| 6 | | name of the purchasing agent who oversees all competitively bid |
| 7 | | contracts. If there is no purchasing agent, the name of the |
| 8 | | person responsible for oversight of all competitively bid |
| 9 | | contracts shall be listed. |
| 10 | | (Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12.)".
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