Sen. Deanna Demuzio
Filed: 5/5/2009
 
 

 




 

 		












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AMENDMENT TO HOUSE BILL 4099 




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    AMENDMENT NO. ______. Amend House Bill 4099 by replacing 
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everything after the enacting clause with the following:

 
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    "Section 5. The State Comptroller Act is amended  by adding 
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Section 19.5 as follows:
 
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    (15 ILCS 405/19.5  new)
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    Sec. 19.5. Comprehensive Annual Financial Report (CAFR); 
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procedures and reporting.
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    (a) On or before October 31, 2010, and on or before each 
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October 31 thereafter, State agencies shall report to the 
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Comptroller all financial information deemed necessary by the 
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Comptroller to compile and publish a comprehensive annual 
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financial report using generally accepted accounting 
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principles for the fiscal year ending June 30 of that year.  The 
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Comptroller may require certain State agencies to submit the 
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required information before October 31 under a schedule 
 


 






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established by the Comptroller.   If a State agency has submitted 
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no or insufficient financial information by October 31, the 
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Comptroller shall serve a written notice to each respective 
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State agency director or secretary about the delinquency or 
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inadequacy of the financial information.   The Comptroller may 
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withhold the salary and any expense reimbursement of the State 
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agency director or secretary who fails to provide the financial 
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information required by this subsection (a) until the 
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information is submitted to the Comptroller.
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    (b) If the financial information required in subsection (a) 
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is submitted to the Comptroller on or before October 31 and  
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that information has been audited by the Auditor General, the 
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Comptroller shall publish a comprehensive annual financial 
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report using generally accepted accounting principles for the 
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fiscal year ending June 30 of that year by December 31.  If the 
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information as required by subsection (a) is not provided to 
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the Comptroller in time to publish the report by December 31, 
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then upon notice from the Comptroller of the delay, each 
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respective State agency director or secretary shall report his 
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or her State agency's delinquency and provide an action plan to 
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bring his or her State agency into compliance to the 
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Comptroller, the Auditor General, the Office of the Governor, 
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the Speaker and Minority Leader of the House of 
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Representatives, and the President and Minority Leader of the 
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Senate.  Upon receiving that report from a State agency director 
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or secretary, the Comptroller shall post that report with the 
 


 






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action plan on his or her official website.
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    (c) If a comprehensive annual financial report using 
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generally accepted accounting principles cannot be published 
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by December 31 due to insufficient or inadequate reporting to 
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the Comptroller or if the Office of the Auditor General has not 
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completed an audit of the comprehensive annual financial 
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report, the Comptroller may issue interim reports containing 
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financial information made available by reporting State 
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agencies until an audit opinion is issued by the Auditor 
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General on the comprehensive annual financial report.".