Illinois General Assembly - Illinois Compiled Statutes

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30 ILCS 500/20-65

(30 ILCS 500/20-65)

Sec. 20-65. Right to audit records.

(a) Maintenance of books and records.  Every contract and
subcontract shall require the
contractor or subcontractor, as applicable, to maintain books and
records relating to the
performance of the contract or subcontract and necessary to
support amounts charged to the State
under the contract or subcontract.  The books and records shall be
maintained by the contractor
for a period of 3 years from the later of the date of final
payment under the contract or
completion of the contract and by the subcontractor for a period
of 3 years from the later of the
date of final payment under the subcontract or completion of the
subcontract.  However, the 3-year
period shall be extended for the duration of any audit in
progress at the time of that
period's expiration.

(b) Audit.  Every contract and subcontract shall provide
that all books and records
required to be maintained under subsection (a) shall be
available for review and audit by
the Auditor General, chief procurement officer, internal auditor, and the purchasing agency.  Every contract
and subcontract shall require
the contractor and subcontractor, as applicable, to cooperate
fully with any audit.

(c) Failure
to maintain books and records.  Failure to maintain the
books and records required by
this Section shall establish a presumption in favor of the State
for the recovery of any funds paid
by the State for which required books and records are not
available.

(Source: P.A. 96-795, eff. 7-1-10 (see Section 5 of P.A. 96-793 for the effective date of changes made by P.A. 96-795).)