SB3699 - Division of Financial Reporting Act

• Creates a Division of Financial Reporting under the State Chief Information Officer's direction, subject to oversight by a Board of Trustees, to modernize Illinois' financial accounting systems.

• Establishes the Division's responsibilities including implementing an Enterprise Resource Planning (ERP) system, conducting management evaluations of executive branch agencies, and providing certification and training in accounting and financial reporting.

• Creates a 7-member Board of Trustees with representatives appointed by the Governor, Comptroller, House Speaker, House Minority Leader, Senate President, and Senate Minority Leader to ensure transparency and collaboration between branches.

• Exempts the Division from the Personnel Code and Illinois Public Labor Relations Act to allow flexible staffing with management professionals experienced in ERP implementation and financial reporting.

• Creates the Division of Financial Reporting Revolving Fund in the State treasury to receive and expend funds for Division operations from State agencies receiving its services.