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HB6267 Engrossed |
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LRB096 18955 JAM 34343 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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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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HB6267 Engrossed |
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LRB096 18955 JAM 34343 b |
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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 |