Illinois 2025-2026 Regular Session

Illinois Senate Bill SB1408 Compare Versions

Only one version of the bill is available at this time.

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1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1408 Introduced 1/31/2025, by Sen. Patrick J. Joyce SYNOPSIS AS INTRODUCED: 50 ILCS 310/1 from Ch. 85, par. 70150 ILCS 310/3 from Ch. 85, par. 70350 ILCS 310/6 from Ch. 85, par. 706 Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately. LRB104 07612 RTM 17656 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1408 Introduced 1/31/2025, by Sen. Patrick J. Joyce SYNOPSIS AS INTRODUCED: 50 ILCS 310/1 from Ch. 85, par. 70150 ILCS 310/3 from Ch. 85, par. 70350 ILCS 310/6 from Ch. 85, par. 706 50 ILCS 310/1 from Ch. 85, par. 701 50 ILCS 310/3 from Ch. 85, par. 703 50 ILCS 310/6 from Ch. 85, par. 706 Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately. LRB104 07612 RTM 17656 b LRB104 07612 RTM 17656 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1408 Introduced 1/31/2025, by Sen. Patrick J. Joyce SYNOPSIS AS INTRODUCED:
3	3	50 ILCS 310/1 from Ch. 85, par. 70150 ILCS 310/3 from Ch. 85, par. 70350 ILCS 310/6 from Ch. 85, par. 706 50 ILCS 310/1 from Ch. 85, par. 701 50 ILCS 310/3 from Ch. 85, par. 703 50 ILCS 310/6 from Ch. 85, par. 706
4	4	50 ILCS 310/1 from Ch. 85, par. 701
5	5	50 ILCS 310/3 from Ch. 85, par. 703
6	6	50 ILCS 310/6 from Ch. 85, par. 706
7	7	Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately.
8	8	LRB104 07612 RTM 17656 b LRB104 07612 RTM 17656 b
9	9	LRB104 07612 RTM 17656 b
10	10	A BILL FOR
11	11	SB1408LRB104 07612 RTM 17656 b SB1408 LRB104 07612 RTM 17656 b
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13	13	1 AN ACT concerning local government.
14	14	2 Be it enacted by the People of the State of Illinois,
15	15	3 represented in the General Assembly:
16	16	4 Section 5. The Governmental Account Audit Act is amended
17	17	5 by changing Sections 1, 3, and 6 as follows:
18	18	6 (50 ILCS 310/1) (from Ch. 85, par. 701)
19	19	7 Sec. 1. Definitions. As used in this Act, unless the
20	20	8 context otherwise indicates:
21	21	9 "Governmental unit" or "unit" includes all municipal
22	22	10 corporations in and political subdivisions of this State that
23	23	11 appropriate more than $5,000 for a fiscal year, with the
24	24	12 amount to increase or decrease by the amount of the Consumer
25	25	13 Price Index (CPI) as reported on January 1 of each year, except
26	26	14 the following:
27	27	15 (1) School districts.
28	28	16 (2) Cities, villages, and incorporated towns subject
29	29	17 to the Municipal Auditing Law, as contained in the
30	30	18 Illinois Municipal Code, and cities that file a report
31	31	19 with the Comptroller under Section 3.1-35-115 of the
32	32	20 Illinois Municipal Code.
33	33	21 (3) Counties with a population of 1,000,000 or more.
34	34	22 (4) Counties subject to the County Auditing Law.
35	35	23 (5) Any other municipal corporations in or political
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39	39	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1408 Introduced 1/31/2025, by Sen. Patrick J. Joyce SYNOPSIS AS INTRODUCED:
40	40	50 ILCS 310/1 from Ch. 85, par. 70150 ILCS 310/3 from Ch. 85, par. 70350 ILCS 310/6 from Ch. 85, par. 706 50 ILCS 310/1 from Ch. 85, par. 701 50 ILCS 310/3 from Ch. 85, par. 703 50 ILCS 310/6 from Ch. 85, par. 706
41	41	50 ILCS 310/1 from Ch. 85, par. 701
42	42	50 ILCS 310/3 from Ch. 85, par. 703
43	43	50 ILCS 310/6 from Ch. 85, par. 706
44	44	Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately.
45	45	LRB104 07612 RTM 17656 b LRB104 07612 RTM 17656 b
46	46	LRB104 07612 RTM 17656 b
47	47	A BILL FOR
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53	53	50 ILCS 310/1 from Ch. 85, par. 701
54	54	50 ILCS 310/3 from Ch. 85, par. 703
55	55	50 ILCS 310/6 from Ch. 85, par. 706
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74	74	1 subdivisions of this State, the accounts of which are
75	75	2 required by law to be audited by or under the direction of
76	76	3 the Auditor General.
77	77	4 (6) (Blank).
78	78	5 (7) A drainage district, established under the
79	79	6 Illinois Drainage Code (70 ILCS 605), that did not receive
80	80	7 or expend any moneys during the immediately preceding
81	81	8 fiscal year or obtains approval for assessments and
82	82	9 expenditures through the circuit court.
83	83	10 (8) Public housing authorities that submit financial
84	84	11 reports to the U.S. Department of Housing and Urban
85	85	12 Development.
86	86	13 "Governing body" means the board or other body or officers
87	87	14 having authority to levy taxes, make appropriations, authorize
88	88	15 the expenditure of public funds or approve claims for any
89	89	16 governmental unit.
90	90	17 "Comptroller" means the Comptroller of the State of
91	91	18 Illinois.
92	92	19 "Consumer Price Index" means the Consumer Price Index for
93	93	20 All Urban Consumers for all items published by the United
94	94	21 States Department of Labor.
95	95	22 "Audit report" means the written report of the auditor and
96	96	23 all appended statements and schedules relating to that report,
97	97	24 presenting or recording the findings of an examination or
98	98	25 audit of the financial transactions, affairs, or conditions of
99	99	26 a governmental unit.
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110	110	1 "Auditor" means a licensed certified public accountant, as
111	111	2 that term is defined in Section 0.03 of the Illinois Public
112	112	3 Accounting Act, or the substantial equivalent of a licensed
113	113	4 CPA, as provided under Section 5.2 of the Illinois Public
114	114	5 Accounting Act, who performs an audit of governmental unit
115	115	6 financial statements and records and expresses an assurance or
116	116	7 disclaims an opinion on the audited financial statements.
117	117	8 "Report" includes both audit reports and reports filed
118	118	9 instead of an audit report by a governmental unit receiving
119	119	10 revenue of less than $1,500,000 $850,000 during any fiscal
120	120	11 year to which the reports relate.
121	121	12 "Generally accepted accounting principles" means
122	122	13 accounting principles generally accepted in the United States.
123	123	14 "Generally accepted auditing standards" means auditing
124	124	15 standards generally accepted in the United States.
125	125	16 (Source: P.A. 100-837, eff. 8-13-18; 101-419, eff. 1-1-20.)
126	126	17 (50 ILCS 310/3) (from Ch. 85, par. 703)
127	127	18 Sec. 3. Any governmental unit receiving revenue of less
128	128	19 than $1,500,000 $850,000 for any fiscal year shall, in lieu of
129	129	20 complying with the requirements of Section 2 for audits and
130	130	21 audit reports, beginning with fiscal year 2016, either: (i)
131	131	22 cause an audit of the accounts of the unit to be made once
132	132	23 every 4 years and file with the Comptroller an annual
133	133	24 financial report containing information required by the
134	134	25 Comptroller, or (ii) file with the Comptroller an annual
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145	145	1 financial report containing information required by the
146	146	2 Comptroller, a copy of which has been provided to each member
147	147	3 of that governmental unit's board of elected officials,
148	148	4 presented either in person or by a live phone or web connection
149	149	5 during a public meeting, and approved by a 3/5 majority vote.
150	150	6 In addition, a governmental unit receiving revenue of less
151	151	7 than $1,500,000 $850,000 may file with the Comptroller any
152	152	8 audit reports which may have been prepared under any other
153	153	9 law. Any governmental unit receiving revenue of $1,500,000
154	154	10 $850,000 or more for any fiscal year shall, in addition to
155	155	11 complying with the requirements of Section 2 for audits and
156	156	12 audit reports, file with the Comptroller the financial report
157	157	13 required by this Section. Such financial reports shall be on
158	158	14 forms so designed by the Comptroller as not to require
159	159	15 professional accounting services for its preparation. All
160	160	16 reports to be filed with the Comptroller under this Section
161	161	17 must be submitted electronically and the Comptroller must post
162	162	18 the reports on the Internet no later than 45 days after they
163	163	19 are received. If the governmental unit provides the
164	164	20 Comptroller's Office with sufficient evidence that the report
165	165	21 cannot be filed electronically, the Comptroller may waive this
166	166	22 requirement. The Comptroller must also post a list of
167	167	23 governmental units that are not in compliance with the
168	168	24 reporting requirements set forth in this Section.
169	169	25 Any financial report under this Section shall include the
170	170	26 name of the purchasing agent who oversees all competitively
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181	181	1 bid contracts. If there is no purchasing agent, the name of the
182	182	2 person responsible for oversight of all competitively bid
183	183	3 contracts shall be listed.
184	184	4 (Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12;
185	185	5 98-1019, eff. 7-1-15.)
186	186	6 (50 ILCS 310/6) (from Ch. 85, par. 706)
187	187	7 Sec. 6. When the audit is completed the auditor making
188	188	8 such audit shall make and sign at least 3 copies of the report
189	189	9 of the audit and immediately file them with the governmental
190	190	10 unit audited. Governmental units receiving revenue of
191	191	11 $1,500,000 $850,000 or more for any fiscal year shall
192	192	12 immediately make one copy of the audit report and one copy of
193	193	13 the financial report required by Section 3 of this Act a part
194	194	14 of its public record. Governmental units receiving revenue of
195	195	15 less than $1,500,000 $850,000 shall immediately make one copy
196	196	16 of the audit report, or one copy of the report authorized by
197	197	17 Section 3 of this Act to be filed instead of the audit report,
198	198	18 a part of its public record. These copies shall be open to
199	199	19 public inspection. In addition, the governmental unit shall
200	200	20 file one copy of the report with the Comptroller and with the
201	201	21 county clerk of the county in which the principal office of the
202	202	22 governmental unit is located. A governmental unit may, in
203	203	23 filing its audit report with the Comptroller, transmit with
204	204	24 such report any comment or explanation that it wishes to make
205	205	25 concerning the report.
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216	216	1 (Source: P.A. 101-419, eff. 1-1-20.)
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