Illinois Compiled Statutes
ILCS Listing
Public
Acts Search
Guide
Disclaimer
Information maintained by the Legislative
Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
65 ILCS 5/8-8-2
(65 ILCS 5/8-8-2) (from Ch. 24, par. 8-8-2)
Sec. 8-8-2.
The following terms shall, unless the context otherwise indicates,
have the following meanings:
(1) "Municipality" or "municipalities" means all cities, villages
and incorporated towns having a population of less than 500,000 as
determined by the last preceding Federal census.
(2) "Corporate authorities" means a city council, village board of
trustees, library board, police and firemen's pension board, or any
other body or officers having authority to levy taxes, make
appropriations, or approve claims for any municipality.
(3) "Comptroller" means the Comptroller of the State of Illinois.
(4) (Blank).
(5) "Audit report" means the written report of the auditor or auditors and all appended statements and schedules relating thereto,
presenting or recording the findings of an examination or audit of the
financial transactions, affairs, or condition of a municipality.
(6) "Annual report" means the statement filed, in lieu of an audit
report, by the municipalities of less than 800 population, which do not
own or operate public utilities and do not have bonded debt.
(7) "Supplemental report" means the annual statement filed, in
addition to any audit report provided for herein, by all municipalities,
except municipalities of less than 800 population which do not own or
operate public utilities and do not have bonded debt.
(8) "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 municipal financial statements and records and expresses an assurance or disclaims an opinion on the audited financial statements. (9) "Generally accepted accounting principles" means accounting principles generally accepted in the United States. (10) "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.)
|
|
