(30 ILCS 10/3001)
(from Ch. 15, par. 3001)
Internal controls required.
All State agencies
establish and maintain a system, or systems, of internal
fiscal and administrative controls, which shall provide
(1) resources are utilized efficiently, effectively,
and in compliance with applicable law;
(2) obligations and costs are in compliance with
(3) funds, property, and other assets and resources
are safeguarded against waste, loss, unauthorized use, and misappropriation;
(4) revenues, expenditures, and transfers of assets,
resources, or funds applicable to operations are properly recorded and accounted for to permit the preparation of accounts and reliable financial and statistical reports and to maintain accountability over the State's resources; and
(5) funds held outside the State Treasury are
managed, used, and obtained in strict accordance with the terms of their enabling authorities and that no unauthorized funds exist.
(Source: P.A. 86-936.)