HB5503 98TH GENERAL ASSEMBLY

LRB098 19162 JLK 54314 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5503

Introduced , by Rep. Tom Demmer

SYNOPSIS AS INTRODUCED:

55 ILCS 5/6-31012 new
65 ILCS 5/8-8-10.5 new

Amends the Counties Code. Provides that each fiscal year, within 30 days of the close of an audit of the county's funds and accounts, the auditor conducting the audit shall: (1) provide a copy of any management letter and a copy of any audited financial statements to each member of the county board; and (2) present the information from the audit to the county board either in person or by a live phone or web connection during a public meeting. Provides that if the county maintains an Internet website, the county board shall post the information contained in any management letter or financial statements to its website. Makes similar changes in the Illinois Municipal Code.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Counties Code is amended by adding Section 6-31012 as follows:

(55 ILCS 5/6-31012 new)

Sec. 6-31012. Audit report disclosure. Each fiscal year, within 30 days of the close of an audit under this Division, the auditor conducting the audit of all of the funds and accounts of a county shall do each of the following:

(1) Provide a copy of any management letter and a copy of any audited financial statements to each member of the county board. If the county maintains an Internet website, the county board shall post this information to its website.

(2) Present the information from the audit to the county board either in person or by a live phone or web connection during a public meeting.

Section 10. The Illinois Municipal Code is amended by adding Section 8-8-10.5 as follows:

(65 ILCS 5/8-8-10.5 new)

Sec. 8-8-10.5. Audit report disclosure. Each fiscal year, within 30 days of the close of an audit under this Act, the auditor conducting the audit of all of the funds and accounts of a municipality shall do each of the following:

(1) Provide a copy of any management letter and a copy of any audited financial statements to each member of the municipality's corporate authorities. If the municipality maintains an Internet website, the corporate authorities shall post this information to its website.

(2) Present the information from the audit to the municipality's corporate authorities either in person or by a live phone or web connection during a public meeting.