Rep. Kay Hatcher

Filed: 3/3/2011

 

 


 

 


 
09700HB2922ham001LRB097 08756 RLJ 51357 a

1
AMENDMENT TO HOUSE BILL 2922

2    AMENDMENT NO. ______. Amend House Bill 2922 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The State Comptroller Act is amended by adding
5Section 19.5 as follows:
 
6    (15 ILCS 405/19.5 new)
7    Sec. 19.5. Comprehensive Annual Financial Report (CAFR);
8procedures and reporting.
9    (a) On or before October 31, 2012, and on or before each
10October 31 thereafter, State agencies shall report to the
11Comptroller all financial information deemed necessary by the
12Comptroller to compile and publish a comprehensive annual
13financial report using generally accepted accounting
14principles for the fiscal year ending June 30 of that year. The
15Comptroller may require certain State agencies to submit the
16required information before October 31 under a schedule

 

 

09700HB2922ham001- 2 -LRB097 08756 RLJ 51357 a

1established by the Comptroller. If a State agency has submitted
2no or insufficient financial information by October 31, the
3Comptroller shall serve a written notice to each respective
4State agency director or secretary about the delinquency or
5inadequacy of the financial information.
6    (b) If the financial information required in subsection (a)
7is submitted to the Comptroller on or before October 31 and
8that information has been audited by the Auditor General, the
9Comptroller shall publish a comprehensive annual financial
10report using generally accepted accounting principles for the
11fiscal year ending June 30 of that year by December 31. If the
12information as required by subsection (a) is not provided to
13the Comptroller in time to publish the report by December 31,
14then upon notice from the Comptroller of the delay, each
15respective State agency director or secretary shall report his
16or her State agency's delinquency and provide an action plan to
17bring his or her State agency into compliance to the
18Comptroller, the Auditor General, the Office of the Governor,
19the Speaker and Minority Leader of the House of
20Representatives, and the President and Minority Leader of the
21Senate. Upon receiving that report from a State agency director
22or secretary, the Comptroller shall post that report with the
23action plan on his or her official website.
24    (c) If a comprehensive annual financial report using
25generally accepted accounting principles cannot be published
26by December 31 due to insufficient or inadequate reporting to

 

 

09700HB2922ham001- 3 -LRB097 08756 RLJ 51357 a

1the Comptroller or if the Office of the Auditor General has not
2completed an audit of the comprehensive annual financial
3report, the Comptroller may issue interim reports containing
4financial information made available by reporting State
5agencies until an audit opinion is issued by the Auditor
6General on the comprehensive annual financial report.
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.".