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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