Rep. David Reis

Filed: 3/18/2010

 

 


 

 


 
09600HB4837ham001 LRB096 16207 JDS 39234 a

1
AMENDMENT TO HOUSE BILL 4837

2     AMENDMENT NO. ______. Amend House Bill 4837 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Illinois Municipal Code is amended by
5 changing Section 8-8-3 as follows:
 
6     (65 ILCS 5/8-8-3)  (from Ch. 24, par. 8-8-3)
7     Sec. 8-8-3. Audit requirements.
8     (a) The corporate authorities of each municipality coming
9 under the provisions of this Division 8 shall cause an audit of
10 the funds and accounts of the municipality to be made by an
11 accountant or accountants employed by such municipality or by
12 an accountant or accountants retained by the Comptroller, as
13 hereinafter provided.
14     (b) The accounts and funds of each municipality having a
15 population of 800 or more or having a bonded debt or owning or
16 operating any type of public utility shall be audited annually.

 

 

09600HB4837ham001 - 2 - LRB096 16207 JDS 39234 a

1 The audit herein required shall include all of the accounts and
2 funds of the municipality. Such audit shall be begun as soon as
3 possible after the close of the fiscal year, and shall be
4 completed and the report submitted within 6 months after the
5 close of such fiscal year, unless an extension of time shall be
6 granted by the Comptroller in writing. The accountant or
7 accountants making the audit shall submit not less than 2
8 copies of the audit report to the corporate authorities of the
9 municipality being audited. Municipalities not operating
10 utilities may cause audits of the accounts of municipalities to
11 be made more often than herein provided, by an accountant or
12 accountants. The audit report of such audit when filed with the
13 Comptroller together with an audit report covering the
14 remainder of the period for which an audit is required to be
15 filed hereunder shall satisfy the requirements of this section.
16     (c) Municipalities of less than 800 population which do not
17 own or operate public utilities and do not have bonded debt,
18 shall file annually with the Comptroller a financial report
19 containing information required by the Comptroller. Such
20 annual financial report shall be on forms devised by the
21 Comptroller in such manner as to not require professional
22 accounting services for its preparation.
23     (d) In addition to any audit report required, all
24 municipalities, except municipalities of less than 800
25 population which do not own or operate public utilities and do
26 not have bonded debt, shall file annually with the Comptroller

 

 

09600HB4837ham001 - 3 - LRB096 16207 JDS 39234 a

1 a supplemental report on forms devised and approved by the
2 Comptroller.
3     (e) Notwithstanding any provision of law to the contrary,
4 if a municipality has (i) a population of less than 200 and
5 (ii) bonded debt in the amount of $500,000 or less, then the
6 municipality shall cause an audit of the funds and accounts of
7 the municipality to be made by an accountant employed by the
8 municipality or retained by the Comptroller for fiscal year
9 2010 and every fourth fiscal year thereafter or until the
10 municipality has a population of 200 or more or has bonded debt
11 in excess of $500,000.
12 (Source: P.A. 78-592.)
 
13     Section 99. Effective date. This Act takes effect upon
14 becoming law.".