SB 4037

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Full Text of SB4037
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					SB4037 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB4037
Introduced 2/6/2026, by Sen. Terri Bryant
SYNOPSIS AS INTRODUCED:
60 ILCS 1/80-20
    Amends the Township Code. In provisions concerning the audits of townships that receive revenue of less than $850,000 during any fiscal year, provides that, in addition to the other audit requirements imposed by law, the township boards shall have the accounts and all records of the township thoroughly audited by a certified public accountant or subjected to a financial statement review (rather than only by a certified public accountant) within 6 months after (i) the end of each term of office of the township supervisor and (ii) a vacancy occurs in the office of township supervisor. Makes conforming changes.
				LRB104 15873 RTM 29093 b
A BILL FOR
		SB4037		LRB104 15873 RTM 29093 b
1		    AN ACT concerning local government.
2		    Be it enacted by the People of the State of Illinois,
3		represented in the General Assembly:
4		    Section 5. The Township Code is amended by changing
5		Section 80-20 as follows:
6		    (60 ILCS 1/80-20)
7		    Sec. 80-20. Independent audit of accounts.
8		    (a) All accounts audited under this Article (and those
9		rejected, if any) shall be delivered with the certificate of
10		the trustees (or a majority of them) to the township clerk, who
11		shall keep them on file for the inspection of any of the
12		inhabitants of the township. They shall also be produced by
13		the township clerk at the next annual meeting and shall be read
14		at the meeting by the clerk.
15		    (b) In townships that receive revenue of $850,000 or more
16		during any fiscal year, exclusive of road funds, the township
17		board shall have the accounts and all records of the township
18		thoroughly audited by a certified public accountant within 6
19		months after the close of each fiscal year. The board shall
20		have a copy of the accountant's report and recommendations
21		filed with the township clerk and another copy filed with the
22		county clerk for public inspection.
23		    (c) In townships that receive revenue of less than
		SB4037	- 2 -	LRB104 15873 RTM 29093 b
1		$850,000 during any fiscal year, exclusive of road funds, the
2		township board shall have the accounts and all records of the
3		township audited and inspected by an independent auditing
4		committee composed of 3 township electors chosen by the board.
5		The audit shall be completed within 6 months after the close of
6		each fiscal year. A copy of the auditing committee's report
7		and recommendations shall be filed with the township clerk and
8		another copy shall be filed with the county clerk for public
9		inspection. The auditing committee shall not contain any
10		member of the township board or any person related to a
11		trustee. Members of the auditing committee shall be proficient
12		in accounting principles and practices and shall be
13		compensated at a rate determined by the township board but not
14		to exceed $50 per day. In addition to the other audit
15		requirements imposed by law, in townships subject to this
16		subsection, the township board shall have the accounts and all
17		records of the township (i) thoroughly audited by a certified
18		public accountant or (ii) subjected to a financial statement 
19		review. The additional audit or financial statement review 
20		shall be conducted within 6 months after (i) the end of each
21		term of office of the township supervisor and (ii) a vacancy
22		occurs in the office of township supervisor. A copy of the
23		accountant's report and recommendations or the findings of the 
24		financial statement review shall be filed with the township
25		clerk and another copy shall be filed with the county clerk for
26		public inspection.
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1		(Source: P.A. 92-582, eff. 7-1-02.)