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50 ILCS 310/1

    (50 ILCS 310/1) (from Ch. 85, par. 701)
    Sec. 1. Definitions. As used in this Act, unless the context otherwise indicates:
    "Governmental unit" or "unit" includes all municipal corporations in and political subdivisions of this State that appropriate more than $5,000 for a fiscal year, with the amount to increase or decrease by the amount of the Consumer Price Index (CPI) as reported on January 1 of each year, except the following:
        (1) School districts.
        (2) Cities, villages, and incorporated towns subject
to the Municipal Auditing Law, as contained in the Illinois Municipal Code, and cities that file a report with the Comptroller under Section 3.1-35-115 of the Illinois Municipal Code.
        (3) Counties with a population of 1,000,000 or more.
        (4) Counties subject to the County Auditing Law.
        (5) Any other municipal corporations in or political
subdivisions of this State, the accounts of which are required by law to be audited by or under the direction of the Auditor General.
        (6) (Blank).
        (7) A drainage district, established under the
Illinois Drainage Code (70 ILCS 605), that did not receive or expend any moneys during the immediately preceding fiscal year or obtains approval for assessments and expenditures through the circuit court.
        (8) Public housing authorities that submit financial
reports to the U.S. Department of Housing and Urban Development.
    "Governing body" means the board or other body or officers having authority to levy taxes, make appropriations, authorize the expenditure of public funds or approve claims for any governmental unit.
    "Comptroller" means the Comptroller of the State of Illinois.
    "Consumer Price Index" means the Consumer Price Index for All Urban Consumers for all items published by the United States Department of Labor.
    "Audit report" means the written report of the auditor and all appended statements and schedules relating to that report, presenting or recording the findings of an examination or audit of the financial transactions, affairs, or conditions of a governmental unit.
    "Auditor" means a licensed certified public accountant, as that term is defined in Section 0.03 of the Illinois Public Accounting Act, or the substantial equivalent of a licensed CPA, as provided under Section 5.2 of the Illinois Public Accounting Act, who performs an audit of governmental unit financial statements and records and expresses an assurance or disclaims an opinion on the audited financial statements.
    "Report" includes both audit reports and reports filed instead of an audit report by a governmental unit receiving revenue of less than $850,000 during any fiscal year to which the reports relate.
    "Generally accepted accounting principles" means accounting principles generally accepted in the United States.
    "Generally accepted auditing standards" means auditing standards generally accepted in the United States.
(Source: P.A. 100-837, eff. 8-13-18; 101-419, eff. 1-1-20.)