Illinois Compiled Statutes 75 ILCS 16/30-65 – Reports and audits
Current as of: 2024 | Check for updates
|
Other versions
(a) On or before September 1 of each year, the board shall prepare a written report for the past fiscal year. The secretary shall file certified copies of the report on or before the due date with the Illinois State Librarian and in the library or libraries operated by the district, where the report shall be available for public inspection. The report shall include the following:
(1) The audit of the secretary and the secretary’s
(1) The audit of the secretary and the secretary’s
|
records as provided in subsection (c).
|
(2) A statement as to any change in the limits and
|
boundaries of the district.
|
(3) A statement as to property of any type acquired
|
by the district by purchase, legacy, gift, or otherwise.
|
(4) A statement as to the amount of accumulations and
|
the reasons for the accumulations.
|
(5) A statement as to any outstanding liabilities,
|
including those for bonds still outstanding.
|
(6) Any other pertinent information requested by the
|
Illinois State Librarian.
|
(b) Where dissolution of the district has been approved, the board shall prepare a final report.
(c) The secretary’s records shall be audited by 2 other trustees appointed by the president. The audit shall be conducted each fiscal year and upon the change of secretaries. The audit report shall be filed not later than 90 days following the completion of the fiscal year. The report shall certify the accuracy and completeness of the secretary’s records and shall list the discrepancies, if any. The report of the audit of the secretary’s records shall be made a part of the secretary’s records.
(d) The board shall take whatever action is deemed necessary to cure the discrepancies reported to it by any audit committee.
Terms Used In Illinois Compiled Statutes 75 ILCS 16/30-65
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Legacy: A gift of property made by will.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(c) The secretary’s records shall be audited by 2 other trustees appointed by the president. The audit shall be conducted each fiscal year and upon the change of secretaries. The audit report shall be filed not later than 90 days following the completion of the fiscal year. The report shall certify the accuracy and completeness of the secretary’s records and shall list the discrepancies, if any. The report of the audit of the secretary’s records shall be made a part of the secretary’s records.
(d) The board shall take whatever action is deemed necessary to cure the discrepancies reported to it by any audit committee.