(50 ILCS 310/1)
(from Ch. 85, par. 701)
As used in this Act, unless the context
"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
(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
(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.
(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.
"Licensed public accountant" means the holder of a valid certificate
as a public accountant under the Illinois Public Accounting Act.
"Audit report" means the written report of the licensed public
accountant and all appended statements and schedules relating to that
presenting or recording the findings of an examination or audit of the
financial transactions, affairs, or conditions of a governmental unit.
"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.
(Source: P.A. 92-191, eff. 8-1-01; 92-582, eff. 7-1-02.)