HB0792 Engrossed LRB095 04917 HLH 24983 b

1     AN ACT concerning special districts.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Metropolitan Water Reclamation District Act
5 is amended by changing Section 5.13 as follows:
 
6     (70 ILCS 2605/5.13)  (from Ch. 42, par. 324w)
7     Sec. 5.13. The clerk shall prepare on or before the first
8 (1st) day of July of each year after the year 1943, an annual
9 financial report which shall contain financial information
10 required by generally accepted accounting principles (GAAP)
11 for governments as promulgated and established by the
12 Governmental Accounting Standards Board (GASB). at least the
13 following information:
14     (1) A separate balance sheet for each fund of the district
15 showing the assets and liabilities in sufficient detail to
16 indicate the true financial condition of each of the several
17 funds.
18     (2) A combined balance sheet indicating the true financial
19 condition of the district as a whole.
20     (3) Statements of income and expense for each fund of the
21 district; such statement shall indicate income by sources, and
22 expenses by functions (activities), organization units and
23 objects.

 

 

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1     (4) For each fund of the district a statement of cash
2 receipts by sources compared with the estimated receipts for
3 the year under review and a condensed statement of cash
4 disbursements.
5     (5) An analysis of surplus statement for each fund of the
6 district, such statement shall show the amount of the surplus
7 at the beginning of the year, the changes during the year in
8 sufficient detail to indicate the specific composition
9 thereof, and the amount of the surplus at the end of the year.
10     (6) For each fund a statement for the budget year of
11 expenditures and encumbrances by organization units, objects
12 and functions (activities), showing the amounts appropriated,
13 the amounts transferred during that year, adjusted
14 appropriations, the amounts disbursed, the balance not
15 disbursed, the amounts encumbered, the total disbursed and
16 encumbered and the unencumbered balance in each item of
17 appropriation in the budget for that year.
18     (7) An analysis of net taxes receivable by tax years for
19 each of the tax levies for five years next preceding the budget
20 year.
21     (8) Such additional tables, charts, graphs, or other
22 statistical material as may be deemed desirable by the clerk.
23     Provided, however, that the statements to be prepared for
24 1943 and prior years, where the accounts have not been kept on
25 the basis herein prescribed, shall be compiled on the presently
26 used basis of accounting and compiled as nearly as practicable

 

 

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1 as herein prescribed.
2     Copies of the annual financial report shall be made
3 conveniently available in the office of the Sanitary District
4 to the public and shall be issued to any person upon payment of
5 a reasonable amount therefor. Nothing in this section shall be
6 construed to mean that the annual financial report may not be
7 combined with the annual audit report and the two published
8 simultaneously as one report.
9 (Source: Laws 1943, vol. 1, p. 599.)
 
10     Section 99. Effective date. This Act takes effect upon
11 becoming law.