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Illinois Senate Bill SB0082

Illinois 2025-2026 Regular Session

Illinois Senate Bill SB0082 Compare Versions

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11 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB0082 Introduced 1/17/2025, by Sen. Doris Turner SYNOPSIS AS INTRODUCED: 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-265 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3 Amends the Illinois Municipal Auditing Law of the Illinois Municipal Code. Provides that certain provisions concerning audit requirements shall become inoperable in fiscal year 2026. Provides that, beginning in Fiscal Year 2026, if a municipality has a population of 1,000 or more, then the municipality shall file annually with the Comptroller an audit report and annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 shall file annually with the Comptroller an annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 that owns or operates public utilities or has bonded debt shall file an audit report once every 4 years unless the latest audit report filed with the Comptroller contains an adverse opinion or disclaimer of opinion. Provides that, if the audit report contains an adverse opinion or disclaimer of opinion, then the municipality shall file an audit report annually until the audit report shows no adverse opinion or disclaimer of opinion. Provides that, beginning in Fiscal Year 2026, municipalities shall submit completed audit reports and annual financial reports within 180 days after the close of such fiscal year, unless an extension is granted by the Comptroller in writing. LRB104 03022 RTM 13040 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB0082 Introduced 1/17/2025, by Sen. Doris Turner SYNOPSIS AS INTRODUCED: 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-265 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-2 65 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3 Amends the Illinois Municipal Auditing Law of the Illinois Municipal Code. Provides that certain provisions concerning audit requirements shall become inoperable in fiscal year 2026. Provides that, beginning in Fiscal Year 2026, if a municipality has a population of 1,000 or more, then the municipality shall file annually with the Comptroller an audit report and annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 shall file annually with the Comptroller an annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 that owns or operates public utilities or has bonded debt shall file an audit report once every 4 years unless the latest audit report filed with the Comptroller contains an adverse opinion or disclaimer of opinion. Provides that, if the audit report contains an adverse opinion or disclaimer of opinion, then the municipality shall file an audit report annually until the audit report shows no adverse opinion or disclaimer of opinion. Provides that, beginning in Fiscal Year 2026, municipalities shall submit completed audit reports and annual financial reports within 180 days after the close of such fiscal year, unless an extension is granted by the Comptroller in writing. LRB104 03022 RTM 13040 b LRB104 03022 RTM 13040 b A BILL FOR
22 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB0082 Introduced 1/17/2025, by Sen. Doris Turner SYNOPSIS AS INTRODUCED:
33 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-265 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-2 65 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3
44 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-2
55 65 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3
66 Amends the Illinois Municipal Auditing Law of the Illinois Municipal Code. Provides that certain provisions concerning audit requirements shall become inoperable in fiscal year 2026. Provides that, beginning in Fiscal Year 2026, if a municipality has a population of 1,000 or more, then the municipality shall file annually with the Comptroller an audit report and annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 shall file annually with the Comptroller an annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 that owns or operates public utilities or has bonded debt shall file an audit report once every 4 years unless the latest audit report filed with the Comptroller contains an adverse opinion or disclaimer of opinion. Provides that, if the audit report contains an adverse opinion or disclaimer of opinion, then the municipality shall file an audit report annually until the audit report shows no adverse opinion or disclaimer of opinion. Provides that, beginning in Fiscal Year 2026, municipalities shall submit completed audit reports and annual financial reports within 180 days after the close of such fiscal year, unless an extension is granted by the Comptroller in writing.
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1212 1 AN ACT concerning local government.
1313 2 Be it enacted by the People of the State of Illinois,
1414 3 represented in the General Assembly:
1515 4 Section 5. The Illinois Municipal Code is amended by
1616 5 changing Sections 8-8-2 and 8-8-3 as follows:
1717 6 (65 ILCS 5/8-8-2) (from Ch. 24, par. 8-8-2)
1818 7 Sec. 8-8-2. The following terms shall, unless the context
1919 8 otherwise indicates, have the following meanings:
2020 9 (1) "Municipality" or "municipalities" means all cities,
2121 10 villages and incorporated towns having a population of less
2222 11 than 500,000 as determined by the last preceding Federal
2323 12 census.
2424 13 (2) "Corporate authorities" means a city council, village
2525 14 board of trustees, library board, police and firemen's pension
2626 15 board, or any other body or officers having authority to levy
2727 16 taxes, make appropriations, or approve claims for any
2828 17 municipality.
2929 18 (3) "Comptroller" means the Comptroller of the State of
3030 19 Illinois.
3131 20 (4) (Blank).
3232 21 (5) "Audit report" means, until Fiscal Year 2026, the
3333 22 written report of the auditor or auditors and all appended
3434 23 statements and schedules relating thereto, presenting or
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3838 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB0082 Introduced 1/17/2025, by Sen. Doris Turner SYNOPSIS AS INTRODUCED:
3939 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-265 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-2 65 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3
4040 65 ILCS 5/8-8-2 from Ch. 24, par. 8-8-2
4141 65 ILCS 5/8-8-3 from Ch. 24, par. 8-8-3
4242 Amends the Illinois Municipal Auditing Law of the Illinois Municipal Code. Provides that certain provisions concerning audit requirements shall become inoperable in fiscal year 2026. Provides that, beginning in Fiscal Year 2026, if a municipality has a population of 1,000 or more, then the municipality shall file annually with the Comptroller an audit report and annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 shall file annually with the Comptroller an annual financial report. Provides that, beginning in Fiscal Year 2026, a municipality with a population of less than 1,000 that owns or operates public utilities or has bonded debt shall file an audit report once every 4 years unless the latest audit report filed with the Comptroller contains an adverse opinion or disclaimer of opinion. Provides that, if the audit report contains an adverse opinion or disclaimer of opinion, then the municipality shall file an audit report annually until the audit report shows no adverse opinion or disclaimer of opinion. Provides that, beginning in Fiscal Year 2026, municipalities shall submit completed audit reports and annual financial reports within 180 days after the close of such fiscal year, unless an extension is granted by the Comptroller in writing.
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7171 1 recording the findings of an examination or audit of the
7272 2 financial transactions, affairs, or condition of a
7373 3 municipality. This paragraph (5) becomes inoperable in Fiscal
7474 4 Year 2026.
7575 5 (5.5) "Audit report" means, beginning in Fiscal Year 2026,
7676 6 the written report of the auditor presenting or recording the
7777 7 findings of an examination or audit of (i) all accounts and
7878 8 funds of the municipality and (ii) the financial transactions,
7979 9 affairs, and condition of the municipality. "Audit report"
8080 10 includes, beginning in Fiscal Year 2026, all appended
8181 11 statements and schedules relating to the written report of the
8282 12 auditor.
8383 13 (6) "Annual report" means, until Fiscal Year 2026, the
8484 14 statement filed, in lieu of an audit report, by the
8585 15 municipalities of less than 800 population, which do not own
8686 16 or operate public utilities and do not have bonded debt. This
8787 17 paragraph (6) becomes inoperable in Fiscal Year 2026.
8888 18 (6.5) "Annual financial report" means, beginning in Fiscal
8989 19 Year 2026, the statement filed in lieu of an audit report and
9090 20 containing the information required by the Comptroller on
9191 21 forms devised by the Comptroller in such manner as to not
9292 22 require professional accounting services for its preparation.
9393 23 (7) "Supplemental report" means the annual statement
9494 24 filed, in addition to any audit report provided for herein, by
9595 25 all municipalities, except municipalities of less than 800
9696 26 population which do not own or operate public utilities and do
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107107 1 not have bonded debt.
108108 2 (8) "Auditor" means a licensed certified public
109109 3 accountant, as that term is defined in Section 0.03 of the
110110 4 Illinois Public Accounting Act, or the substantial equivalent
111111 5 of a licensed CPA, as provided under Section 5.2 of the
112112 6 Illinois Public Accounting Act, who performs an audit of
113113 7 municipal financial statements and records and expresses an
114114 8 assurance or disclaims an opinion on the audited financial
115115 9 statements.
116116 10 (9) "Generally accepted accounting principles" means
117117 11 accounting principles generally accepted in the United States.
118118 12 (10) "Generally accepted auditing standards" means
119119 13 auditing standards generally accepted in the United States.
120120 14 (Source: P.A. 100-837, eff. 8-13-18; 101-419, eff. 1-1-20.)
121121 15 (65 ILCS 5/8-8-3) (from Ch. 24, par. 8-8-3)
122122 16 Sec. 8-8-3. Audit requirements.
123123 17 (a) The corporate authorities of each municipality coming
124124 18 under the provisions of this Division 8 shall cause an audit of
125125 19 the funds and accounts of the municipality to be made by an
126126 20 auditor or auditors employed by such municipality or by an
127127 21 auditor or auditors retained by the Comptroller, as
128128 22 hereinafter provided.
129129 23 (b) Until Fiscal Year 2026, the The accounts and funds of
130130 24 each municipality having a population of 800 or more or having
131131 25 a bonded debt or owning or operating any type of public utility
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142142 1 shall be audited annually. The audit herein required shall
143143 2 include all of the accounts and funds of the municipality.
144144 3 Such audit shall be begun as soon as possible after the close
145145 4 of the fiscal year, and shall be completed and the report
146146 5 submitted within 180 days after the close of such fiscal year,
147147 6 unless an extension of time shall be granted by the
148148 7 Comptroller in writing. The auditor or auditors perform the
149149 8 audit shall submit not less than 2 copies of the audit report
150150 9 to the corporate authorities of the municipality being
151151 10 audited. Municipalities not operating utilities may cause
152152 11 audits of the accounts of municipalities to be made more often
153153 12 than herein provided, by an auditor or auditors. The audit
154154 13 report of such audit when filed with the Comptroller together
155155 14 with an audit report covering the remainder of the period for
156156 15 which an audit is required to be filed hereunder shall satisfy
157157 16 the requirements of this section. This subsection (b) becomes
158158 17 inoperable in Fiscal Year 2026.
159159 18 (c) Until Fiscal Year 2026, municipalities Municipalities
160160 19 of less than 800 population which do not own or operate public
161161 20 utilities and do not have bonded debt, shall file annually
162162 21 with the Comptroller a financial report containing information
163163 22 required by the Comptroller. Such annual financial report
164164 23 shall be on forms devised by the Comptroller in such manner as
165165 24 to not require professional accounting services for its
166166 25 preparation. This subsection (c) becomes inoperable in Fiscal
167167 26 Year 2026.
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178178 1 (d) Until Fiscal Year 2026, in In addition to any audit
179179 2 report required, all municipalities, except municipalities of
180180 3 less than 800 population which do not own or operate public
181181 4 utilities and do not have bonded debt, shall file annually
182182 5 with the Comptroller a supplemental report on forms devised
183183 6 and approved by the Comptroller. This subsection (d) becomes
184184 7 inoperable in Fiscal Year 2026.
185185 8 (e) Until Fiscal Year 2026, notwithstanding
186186 9 Notwithstanding any provision of law to the contrary, if a
187187 10 municipality (i) has a population of less than 200, (ii) has
188188 11 bonded debt in the amount of $50,000 or less, and (iii) owns or
189189 12 operates a public utility, then the municipality shall cause
190190 13 an audit of the funds and accounts of the municipality to be
191191 14 performed by an auditor employed by the municipality or
192192 15 retained by the Comptroller for fiscal year 2011 and every
193193 16 fourth fiscal year thereafter or until the municipality has a
194194 17 population of 200 or more, has bonded debt in excess of
195195 18 $50,000, or no longer owns or operates a public utility.
196196 19 Nothing in this subsection shall be construed as limiting the
197197 20 municipality's duty to file an annual financial report with
198198 21 the Comptroller or to comply with the filing requirements
199199 22 concerning the county clerk. This subsection (e) becomes
200200 23 inoperable in Fiscal Year 2026.
201201 24 (f) All audits and reports to be filed with the
202202 25 Comptroller under this Section must be submitted
203203 26 electronically and the Comptroller must post the audits and
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214214 1 reports on the Internet no later than 45 days after they are
215215 2 received. If the municipality provides the Comptroller's
216216 3 Office with sufficient evidence that the audit or report
217217 4 cannot be filed electronically, the Comptroller may waive this
218218 5 requirement. The Comptroller must also post a list of
219219 6 municipalities that are not in compliance with the reporting
220220 7 requirements set forth in this Section.
221221 8 (g) Subsection (f) of this Section is a limitation under
222222 9 subsection (i) of Section 6 of Article VII of the Illinois
223223 10 Constitution on the concurrent exercise by home rule
224224 11 municipalities of powers and functions exercised by the State.
225225 12 (i) Beginning in Fiscal Year 2026, if a municipality has a
226226 13 population of less than 1,000, does not own or operate public
227227 14 utilities, and does not have bonded debt, then the
228228 15 municipality shall file annually with the Comptroller an
229229 16 annual financial report.
230230 17 (j) Beginning in Fiscal Year 2026, a municipality with a
231231 18 population of less than 1,000 shall annually file an annual
232232 19 financial report with the Comptroller if the municipality owns
233233 20 or operates public utilities or has bonded debt. Additionally,
234234 21 the municipality shall file an audit report once every 4 years
235235 22 unless the latest audit report filed with the Comptroller
236236 23 contains an adverse opinion or disclaimer of opinion. If the
237237 24 audit report contains an adverse opinion or disclaimer of
238238 25 opinion, then the municipality shall file an audit report
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