Terms Used In Illinois Compiled Statutes > 55 ILCS 5 > Article 6 > Division 6-31 - Audits

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Audit report: means the written report of the auditor or auditors and all appended statements and schedules relating thereto, presenting or recording the findings of an examination or audit of the financial transactions, affairs and condition of a county;
       5. See Illinois Compiled Statutes 55 ILCS 5/6-31002
• Auditor: means a licensed certified public accountant, as that term is defined in Section 0. See Illinois Compiled Statutes 55 ILCS 5/6-31002
• Comptroller: means the Comptroller of the State of Illinois;
       2. See Illinois Compiled Statutes 55 ILCS 5/6-31002
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Funds and accounts: means all funds of a county derived from property taxes and all funds and accounts derived from sources other than property taxes, including the receipts and expenditures of the fee earnings of each county fee officer;
       4. See Illinois Compiled Statutes 55 ILCS 5/6-31002
• Generally accepted accounting principles: means accounting principles generally accepted in the United States. See Illinois Compiled Statutes 55 ILCS 5/6-31002
• Generally accepted auditing standards: means auditing standards generally accepted in the United States. See Illinois Compiled Statutes 55 ILCS 5/6-31002
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• 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
• United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14