Sen. Steve Stadelman

Filed: 4/15/2016

 

 


 

 


 
09900SB2270sam001LRB099 16091 MJP 47484 a

1
AMENDMENT TO SENATE BILL 2270

2    AMENDMENT NO. ______. Amend Senate Bill 2270 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Governmental Account Audit Act is amended
5by changing Sections 1 and 9 and by adding Section 12 as
6follows:
 
7    (50 ILCS 310/1)  (from Ch. 85, par. 701)
8    Sec. 1. Definitions. As used in this Act, unless the
9context otherwise indicates:
10    "Governmental unit" or "unit" (but not "unit of local
11government") includes all municipal corporations in and
12political subdivisions of this State that appropriate more than
13$5,000 for a fiscal year, with the amount to increase or
14decrease by the amount of the Consumer Price Index (CPI) as
15reported on January 1 of each year, except the following:
16        (1) School districts.

 

 

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1        (2) Cities, villages, and incorporated towns subject
2    to the Municipal Auditing Law, as contained in the Illinois
3    Municipal Code, and cities that file a report with the
4    Comptroller under Section 3.1-35-115 of the Illinois
5    Municipal Code.
6        (3) Counties with a population of 1,000,000 or more.
7        (4) Counties subject to the County Auditing Law.
8        (5) Any other municipal corporations in or political
9    subdivisions of this State, the accounts of which are
10    required by law to be audited by or under the direction of
11    the Auditor General.
12        (6) (Blank).
13        (7) A drainage district, established under the
14    Illinois Drainage Code (70 ILCS 605), that did not receive
15    or expend any moneys during the immediately preceding
16    fiscal year or obtains approval for assessments and
17    expenditures through the circuit court.
18        (8) Public housing authorities that submit financial
19    reports to the U.S. Department of Housing and Urban
20    Development.
21    "Governing body" means the board or other body or officers
22having authority to levy taxes, make appropriations, authorize
23the expenditure of public funds or approve claims for any
24governmental unit or unit of local government.
25    "Comptroller" means the Comptroller of the State of
26Illinois.

 

 

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1    "Consumer Price Index" means the Consumer Price Index for
2All Urban Consumers for all items published by the United
3States Department of Labor.
4    "CPA" or "C.P.A." has the meaning provided in Section 0.03
5of the Illinois Public Accounting Act.
6    "CPA firm" has the meaning provided in Section 0.03 of the
7Illinois Public Accounting Act.
8    "Licensed public accountant" means the holder of a valid
9certificate as a public accountant under the Illinois Public
10Accounting Act.
11    "Audit partner rotation" means that neither the lead (or
12coordinating) audit partner (having primary responsibility for
13the audit) nor the audit partner responsible for reviewing the
14audit have performed audit services for the unit of local
15government in each of the previous 5 fiscal years of that unit
16of local government.
17    "Audit report" means the written report of the CPA licensed
18public accountant and all appended statements and schedules
19relating to that report, presenting or recording the findings
20of an examination or audit of the financial transactions,
21affairs, or conditions of a governmental unit.
22    "Public colleges and universities" means public community
23colleges subject to the Public Community College Act, the
24University of Illinois, Southern Illinois University, Chicago
25State University, Eastern Illinois University, Governors State
26University, Illinois State University, Northeastern Illinois

 

 

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1University, Northern Illinois University, and Western Illinois
2University.
3    "Report" includes both audit reports and reports filed
4instead of an audit report by a governmental unit receiving
5revenue of less than $850,000 during any fiscal year to which
6the reports relate.
7    "Unit of local government" (but not "governmental unit" or
8"unit") has the meaning provided in Section 1 of Article VII of
9the Constitution of the State of Illinois and also includes
10school districts and public colleges and universities.
11(Source: P.A. 92-191, eff. 8-1-01; 92-582, eff. 7-1-02.)
 
12    (50 ILCS 310/9)  (from Ch. 85, par. 709)
13    Sec. 9. The expenses of the audit and investigation of
14public accounts provided for by this Act, whether ordered by
15the governing body or the Comptroller, shall be paid by the
16governmental unit for which the audit is made. Payment shall be
17ordered by the governing body out of the funds of the unit and
18such authorities shall make provision for payment. Contracts
19for the performance of audits required by this Act shall may be
20entered into in accordance with Section 12 of this Act without
21competitive bidding. If the audit is made by a CPA licensed
22public accountant retained by the Comptroller, the
23governmental unit shall pay to the Comptroller actual
24compensation and expenses to reimburse him for the cost of
25making such audit.

 

 

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1    The governing body of any governmental unit having taxing
2powers may levy an auditing tax in an amount that will not
3require extension of such tax at a rate in excess of .005% of
4the value of all taxable property in the unit as equalized or
5assessed by the Department of Revenue. This auditing tax may be
6in excess of or in addition to any statutory limitation of rate
7or amount. Money received from the auditing tax shall be held
8in a special fund and used only for the payment of auditing
9expenses.
10(Source: P.A. 81-1509.)
 
11    (50 ILCS 310/12 new)
12    Sec. 12. Auditor contracts. Notwithstanding any other
13provision of law to the contrary and on or after the effective
14date of this amendatory Act of the 99th General Assembly:
15    (a) A unit of local government may not enter into a
16contract or appointment longer than 5 fiscal years with a CPA
17or a CPA firm to audit the unit of local government's accounts.
18    (b) A unit of local government may contract with or appoint
19a CPA or a CPA firm to audit the unit of local government's
20accounts only after advertising for and following a competitive
21request for proposals process that solicits qualifications and
22proposals from interested parties.
23    (c) If a CPA or a CPA firm has had primary responsibility
24for an audit or responsible for reviewing the audit of a unit
25of local government during the previous 5 consecutive fiscal

 

 

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1years, the unit of local government may not contract with or
2appoint that CPA or CPA firm unless the CPA or CPA firm
3complies with the requirements of audit partner rotation for
4the audits of the unit of local government.
5    (d) The Comptroller may waive the requirements of
6subsection (c) upon a showing by the unit of local government
7that no other CPA or CPA firm within a reasonable distance from
8the unit of local government is able or willing to perform the
9audit. Evidence a unit of local government may provide to the
10Comptroller to show the unavailability of other auditors
11includes, but is not limited to, receipt of only one proposal
12after issuing a request for proposals. The Comptroller may not
13waive the requirement that a CPA firm use audit partner
14rotation unless the CPA firm has only one audit partner with
15the requisite skills, knowledge, and experience in
16governmental accounting and auditing and no other qualified CPA
17or CPA firm within a reasonable distance is able or willing to
18perform the audit.
 
19    Section 10. The Counties Code is amended by changing
20Section 6-31008 as follows:
 
21    (55 ILCS 5/6-31008)  (from Ch. 34, par. 6-31008)
22    Sec. 6-31008. Expenses of audit. The expenses of conducting
23the audit and making the required audit report or financial
24statement for each county, whether ordered by the county board

 

 

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1or the Comptroller, shall be paid by the county and the county
2board shall make provisions for such payment. If the audit is
3made by an accountant or accountants retained by the
4Comptroller, the county, through the county board, shall pay to
5the Comptroller reasonable compensation and expenses to
6reimburse him for the cost of making such audit. Moneys paid to
7the Comptroller pursuant to the preceding sentence shall be
8deposited into the Comptroller's Audit Expense Revolving Fund.
9    Such expenses shall be paid from the general corporate fund
10of the county.
11    Contracts for the performance of audits required by this
12Division shall be entered into pursuant to Section 12 of the
13Governmental Account Audit Act may be entered into without
14competitive bidding.
15(Source: P.A. 88-280.)
 
16    Section 15. The Illinois Municipal Code is amended by
17changing Sections 8-1-7 and 8-8-8 as follows:
 
18    (65 ILCS 5/8-1-7)  (from Ch. 24, par. 8-1-7)
19    Sec. 8-1-7. (a) Except as provided otherwise in this
20Section, no contract shall be made by the corporate
21authorities, or by any committee or member thereof, and no
22expense shall be incurred by any of the officers or departments
23of any municipality, whether the object of the expenditure has
24been ordered by the corporate authorities or not, unless an

 

 

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1appropriation has been previously made concerning that
2contract or expense. Any contract made, or any expense
3otherwise incurred, in violation of the provisions of this
4section shall be null and void as to the municipality, and no
5money belonging thereto shall be paid on account thereof.
6However, pending the passage of the annual appropriation
7ordinance for any fiscal year, the corporate authorities may
8authorize heads of departments or other separate agencies of
9the municipality to make necessary expenditures for the support
10thereof upon the basis of the appropriations of the preceding
11fiscal year. However, if it is determined by two-thirds vote of
12the corporate authorities then holding office at a regularly
13scheduled meeting of the corporate authorities that it is
14expedient and in the best public interest to begin proceedings
15for the construction of a needed public work, then the
16provisions of this section shall not apply to the extent that
17the corporate authorities may employ or contract for
18professional services necessary for the planning and financing
19of such public work.
20    (b) Notwithstanding any provision of this Code to the
21contrary, the corporate authorities of any municipality may
22make contracts for a term exceeding one year and not exceeding
23the term of the mayor or president holding office at the time
24the contract is executed, relating to: (1) the employment of a
25municipal manager, administrator, engineer, health officer,
26land planner, finance director, attorney, police chief or other

 

 

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1officer who requires technical training or knowledge; (2) the
2employment of outside professional consultants such as
3engineers, doctors, land planners, auditors, attorneys or
4other professional consultants who require technical training
5or knowledge; (3) the provision of data processing equipment
6and services; or (4) the provision of services which directly
7relate to the prevention, identification or eradication of
8disease. In such case the corporate authorities shall include
9in the annual appropriation ordinance for each fiscal year, an
10appropriation of a sum of money sufficient to pay the amount
11which, by the terms of the contract, is to become due and
12payable during the current fiscal year. The corporate
13authorities shall enter into contracts with auditors pursuant
14to Section 12 of the Governmental Account Audit Act.
15    (c) This section shall not apply to municipalities
16operating under special charters.
17    (d) In order to promote orderly collective bargaining
18relationships, to prevent labor strife and to protect the
19interests of the public and the health and safety of the
20citizens of Illinois, this Section shall not apply to
21multi-year collective bargaining agreements between public
22employers and exclusive representatives governed by the
23provisions of the Illinois Public Labor Relations Act.
24     Notwithstanding any provision of this Code to the
25contrary, the corporate authorities of any municipality may
26enter into multi-year collective bargaining agreements with

 

 

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1exclusive representatives under the provisions of the Illinois
2Public Labor Relations Act.
3    (e) Notwithstanding any provision of this Code to the
4contrary, the corporate authorities of any municipality may
5enter into any multi-year contract or otherwise associate for
6any term under the provisions of Section 10 of Article VII of
7the Illinois Constitution or the Intergovernmental Cooperation
8Act.
9(Source: P.A. 90-517, eff. 8-22-97.)
 
10    (65 ILCS 5/8-8-8)  (from Ch. 24, par. 8-8-8)
11    Sec. 8-8-8. The expenses of the audit and investigation of
12public accounts provided for in Division 8, whether ordered by
13the corporate authorities or the Comptroller, shall be paid by
14the municipality for which the audit is made. Payment shall be
15ordered by the corporate authorities out of the funds of the
16municipality and it shall be the duty of such authorities to
17make provisions for payment. Contracts for the performance of
18audits required by this Division 8 shall be entered into
19pursuant to Section 12 of the Governmental Account Audit Act
20may be entered into without competitive bidding. If the audit
21is made by an accountant or accountants retained by the
22Comptroller, the municipality shall pay to the Comptroller
23reasonable compensation and expenses to reimburse him for the
24cost of making such audit.
25    The corporate authorities of all municipalities coming

 

 

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1under the provisions of this Division 8 shall have the power to
2annually levy a "Municipal Auditing Tax" upon all of the
3taxable property of the municipalities at the rate on the
4dollar which will produce an amount which will equal a sum
5sufficient to meet the cost of all auditing and reports
6thereunder. Such municipal auditing tax shall be held in a
7special fund and used for no other purpose than the payment of
8expenses occasioned by this Division 8.
9    The tax authorized by this Section shall be in addition to
10taxes for general corporate purposes authorized under Section
118-3-1 of this Act.
12(Source: P.A. 81-824.)
 
13    Section 20. The Park District Code is amended by changing
14Section 8-1 as follows:
 
15    (70 ILCS 1205/8-1)  (from Ch. 105, par. 8-1)
16    Sec. 8-1. General corporate powers. Every park district
17shall, from the time of its organization, be a body corporate
18and politic by the name set forth in the petition for its
19organization, the specific name set forth in this Code, or the
20name it may adopt under Section 8-9 and shall have and exercise
21the following powers:
22    (a) To adopt a corporate seal and alter the same at
23pleasure; to sue and be sued; and to contract in furtherance of
24any of its corporate purposes.

 

 

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1    (b) (1) To acquire by gift, legacy, grant or purchase, or
2by condemnation in the manner provided for the exercise of the
3power of eminent domain under the Eminent Domain Act, any and
4all real estate, or rights therein necessary for building,
5laying out, extending, adorning and maintaining any such parks,
6boulevards and driveways, or for effecting any of the powers or
7purposes granted under this Code as its board may deem proper,
8whether such lands be located within or without such district;
9but no park district, except as provided in paragraph (2) of
10this subsection, shall have any power of condemnation in the
11manner provided for the exercise of the power of eminent domain
12under the Eminent Domain Act or otherwise as to any real
13estate, lands, riparian rights or estate, or other property
14situated outside of such district, but shall only have power to
15acquire the same by gift, legacy, grant or purchase, and such
16district shall have the same control of and power over lands so
17acquired without the district as over parks, boulevards and
18driveways within such district.
19    (2) In addition to the powers granted in paragraph (1) of
20subsection (b), a park district located in more than one
21county, the majority of its territory located in a county over
22450,000 in population and none of its territory located in a
23county over 1,000,000 in population, shall have condemnation
24power in the manner provided for the exercise of the power of
25eminent domain under the Eminent Domain Act or as otherwise
26granted by law as to any and all real estate situated up to one

 

 

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1mile outside of such district which is not within the
2boundaries of another park district.
3    (c) To acquire by gift, legacy or purchase any personal
4property necessary for its corporate purposes provided that all
5contracts for supplies, materials or work involving an
6expenditure in excess of $20,000 shall be let to the lowest
7responsible bidder after due advertisement. No district shall
8be required to accept a bid that does not meet the district's
9established specifications, terms of delivery, quality, and
10serviceability requirements. Contracts which, by their nature,
11are not adapted to award by competitive bidding, such as
12contracts for the services of individuals possessing a high
13degree of professional skill where the ability or fitness of
14the individual plays an important part, contracts for the
15printing of finance committee reports and departmental
16reports, contracts for the printing or engraving of bonds, tax
17warrants and other evidences of indebtedness, contracts for
18utility services such as water, light, heat, telephone or
19telegraph, contracts for the use, purchase, delivery,
20movement, or installation of data processing equipment,
21software, or services and telecommunications and interconnect
22equipment, software, or services, contracts for duplicating
23machines and supplies, contracts for goods or services procured
24from another governmental agency, purchases of equipment
25previously owned by some entity other than the district itself,
26and contracts for the purchase of magazines, books,

 

 

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1periodicals, pamphlets and reports are not subject to
2competitive bidding. Contracts for emergency expenditures are
3also exempt from competitive bidding when the emergency
4expenditure is approved by 3/4 of the members of the board.
5    All competitive bids for contracts involving an
6expenditure in excess of $20,000 must be sealed by the bidder
7and must be opened by a member or employee of the park board at
8a public bid opening at which the contents of the bids must be
9announced. Each bidder must receive at least 3 days notice of
10the time and place of the bid opening.
11    For purposes of this subsection, "due advertisement"
12includes, but is not limited to, at least one public notice at
13least 10 days before the bid date in a newspaper published in
14the district or, if no newspaper is published in the district,
15in a newspaper of general circulation in the area of the
16district.
17    (d) To pass all necessary ordinances, rules and regulations
18for the proper management and conduct of the business of the
19board and district and to establish by ordinance all needful
20rules and regulations for the government and protection of
21parks, boulevards and driveways and other property under its
22jurisdiction, and to effect the objects for which such
23districts are formed.
24    (e) To prescribe such fines and penalties for the violation
25of ordinances as it shall deem proper not exceeding $1,000 for
26any one offense, which fines and penalties may be recovered by

 

 

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1an action in the name of such district in the circuit court for
2the county in which such violation occurred. The park district
3may also seek in the action, in addition to or instead of fines
4and penalties, an order that the offender be required to make
5restitution for damage resulting from violations, and the court
6shall grant such relief where appropriate. The procedure in
7such actions shall be the same as that provided by law for like
8actions for the violation of ordinances in cities organized
9under the general laws of this State, and offenders may be
10imprisoned for non-payment of fines and costs in the same
11manner as in such cities. All fines when collected shall be
12paid into the treasury of such district.
13    (f) To manage and control all officers and property of such
14districts and to provide for joint ownership with one or more
15cities, villages or incorporated towns of real and personal
16property used for park purposes by one or more park districts.
17In case of joint ownership, the terms of the agreement shall be
18fair, just and equitable to all parties and shall be set forth
19in a written agreement entered into by the corporate
20authorities of each participating district, city, village or
21incorporated town.
22    (g) To secure grants and loans, or either, from the United
23States Government, or any agency or agencies thereof, for
24financing the acquisition or purchase of any and all real
25estate, or rights therein, or for effecting any of the powers
26or purposes granted under this Code as its Board may deem

 

 

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1proper.
2    (h) To establish fees for the use of facilities and
3recreational programs of the districts and to derive revenue
4from non-resident fees from their operations. Fees charged
5non-residents of such district need not be the same as fees
6charged to residents of the district. Charging fees or deriving
7revenue from the facilities and recreational programs shall not
8affect the right to assert or utilize any defense or immunity,
9common law or statutory, available to the districts or their
10employees.
11    (i) To make contracts for a term exceeding one year, but
12not to exceed 3 years, notwithstanding any provision of this
13Code to the contrary, relating to: (1) the employment of a park
14director, superintendent, administrator, engineer, health
15officer, land planner, finance director, attorney, police
16chief, or other officer who requires technical training or
17knowledge; (2) the employment of outside professional
18consultants such as engineers, doctors, land planners,
19auditors, attorneys, or other professional consultants who
20require technical training or knowledge; (3) the provision of
21data processing equipment and services; and (4) the purchase of
22energy from a utility or an alternative retail electric
23supplier. With respect to any contract made under this
24subsection (i), the corporate authorities shall include in the
25annual appropriation ordinance for each fiscal year an
26appropriation of a sum of money sufficient to pay the amount

 

 

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1which, by the terms of the contract, is to become due and
2payable during that fiscal year. Contracts with auditors shall
3be entered into pursuant to Section 12 of the Governmental
4Account Audit Act.
5    (j) To enter into licensing or management agreements with
6not-for-profit corporations organized under the laws of this
7State to operate park district facilities if the corporation
8covenants to use the facilities to provide public park or
9recreational programs for youth.
10(Source: P.A. 98-325, eff. 8-12-13; 98-772, eff. 7-16-14.)
 
11    Section 25. The School Code is amended by changing Section
123-7 as follows:
 
13    (105 ILCS 5/3-7)  (from Ch. 122, par. 3-7)
14    Sec. 3-7. Failure to prepare and forward information. If
15the trustees of schools of any township in Class II county
16school units, or any school district which forms a part of a
17Class II county school unit but which is not subject to the
18jurisdiction of the trustees of schools of any township in
19which such district is located, or any school district in any
20Class I county school units fail to prepare and forward or
21cause to be prepared and forwarded to the regional
22superintendent of schools, reports required by this Act, the
23regional superintendent of schools shall furnish such
24information or he shall employ a person or persons to furnish

 

 

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1such information, as far as practicable. Such person shall have
2access to the books, records and papers of the school district
3to enable him or them to prepare such reports, and the school
4district shall permit such person or persons to examine such
5books, records and papers at such time and such place as such
6person or persons may desire for the purpose aforesaid. For
7such services the regional superintendent of schools shall bill
8the district an amount to cover the cost of preparation of such
9reports if he employs a person to prepare such reports.
10    Each school district shall, as of June 30 of each year,
11cause an audit of its accounts to be made by a person lawfully
12qualified to practice public accounting as regulated by the
13Illinois Public Accounting Act. Such audit shall include
14financial statements of the district applicable to the type of
15records required by other sections of this Act and in addition
16shall set forth the scope of audit and shall include the
17professional opinion signed by the auditor, or if such an
18opinion is denied by the auditor, shall set forth the reasons
19for such denial. Each school district shall on or before
20October 15 of each year, submit an original and one copy of
21such audit to the regional superintendent of schools in the
22educational service region having jurisdiction in which case
23the regional superintendent of schools shall be relieved of
24responsibility in regard to the accounts of the school
25district. If any school district fails to supply the regional
26superintendent of schools with a copy of such audit report on

 

 

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1or before October 15, or within such time extended by the
2regional superintendent of schools from that date, not to
3exceed 60 days, then it shall be the responsibility of the
4regional superintendent of schools having jurisdiction to
5cause such audit to be made by employing an accountant licensed
6to practice in the State of Illinois to conduct such audit and
7shall bill the district for such services, or shall with the
8personnel of his office make such audit to his satisfaction and
9bill the district for such service. In the latter case, if the
10audit is made by personnel employed in the office of the
11regional superintendent of schools having jurisdiction, then
12the regional superintendent of schools shall not be relieved of
13the responsibility as to the accountability of the school
14district. The copy of the audit shall be forwarded by the
15regional superintendent to the State Board of Education on or
16before November 15 of each year and shall be filed by the State
17Board of Education.
18    Each school district that is the administrative district
19for several school districts operating under a joint agreement
20as authorized by this Act shall, as of June 30 each year, cause
21an audit of the accounts of the joint agreement to be made by a
22person lawfully qualified to practice public accounting as
23regulated by the Illinois Public Accounting Act. Such audit
24shall include financial statements of the operation of the
25joint agreement applicable to the type of records required by
26this Act and, in addition, shall set forth the scope of the

 

 

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1audit and shall include the professional opinion signed by the
2auditor, or if such an opinion is denied, the auditor shall set
3forth the reason for such denial. Each administrative district
4of a joint agreement shall on or before October 15 each year,
5submit an original and one copy of such audit to the regional
6superintendent of schools in the educational service region
7having jurisdiction in which case the regional superintendent
8of schools shall be relieved of responsibility in regard to the
9accounts of the joint agreement. The copy of the audit shall be
10forwarded by the regional superintendent to the State Board of
11Education on or before November 15 of each year and shall be
12filed by the State Board of Education. The cost of such an
13audit shall be apportioned among and paid by the several
14districts who are parties to the joint agreement, in the same
15manner as other costs and expenses accruing to the districts
16jointly.
17    The State Board of Education shall determine the adequacy
18of the audits. All audits shall be kept on file in the office
19of the State Board of Education. Contracts for the performance
20of audits required by this Section shall be entered into
21pursuant to Section 12 of the Governmental Account Audit Act.
22(Source: P.A. 86-1441; 87-473.)
 
23    Section 30. The Board of Higher Education Act is amended by
24adding Section 13 as follows:
 

 

 

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1    (110 ILCS 205/13 new)
2    Sec. 13. Account audits. The Board shall establish minimum
3standards for account audits of public institutions of higher
4education that, at a minimum, require public institutions of
5higher education to comply with Section 12 of the Governmental
6Account Audit Act.
 
7    Section 35. The Public Community College Act is amended by
8changing Section 3-22.1 as follows:
 
9    (110 ILCS 805/3-22.1)  (from Ch. 122, par. 103-22.1)
10    Sec. 3-22.1. To cause an audit to be made as of the end of
11each fiscal year by an accountant licensed to practice public
12accounting in Illinois and appointed by the board in accordance
13with Section 12 of the Governmental Account Audit Act. The
14auditor shall perform his or her examination in accordance with
15generally accepted auditing standards and regulations
16prescribed by the State Board, and submit his or her report
17thereon in accordance with generally accepted accounting
18principles. The examination and report shall include a
19verification of student enrollments and any other bases upon
20which claims are filed with the State Board. The audit report
21shall include a statement of the scope and findings of the
22audit and a professional opinion signed by the auditor. If a
23professional opinion is denied by the auditor he or she shall
24set forth the reasons for that denial. The board shall not

 

 

09900SB2270sam001- 22 -LRB099 16091 MJP 47484 a

1limit the scope of the examination to the extent that the
2effect of such limitation will result in the qualification of
3the auditor's professional opinion. The procedures for payment
4for the expenses of the audit shall be in accordance with
5Section 9 of the Governmental Account Audit Act. Copies of the
6audit report shall be filed with the State Board in accordance
7with regulations prescribed by the State Board. The State Board
8shall file one copy of the audit report with the Auditor
9General. The State Board shall file copies of the uniform
10financial statements from the audit report with the Board of
11Higher Education.
12(Source: P.A. 90-468, eff. 8-17-97.)".