IL HB5636

Allows regional offices of education and educational service centers to use cash basis, modified cash basis, or generally accepted accounting principles (GAAP) basis for preparing financial statements subject to annual audits by the Auditor General.

Requires audit reports to be published on the Auditor General's website and distributed according to the Illinois State Auditing Act, replacing previous requirements for newspaper publication and individual legislator notification.

Maintains existing audit requirements including examination of books, records, and voucher samples, with audits conducted in accordance with Generally Accepted Governmental Auditing Standards as of June 30th each year.

Requires the Auditor General to notify the Legislative Audit Commission by February 15th annually regarding audit completion status for educational service regions and centers (except those serving cities with population exceeding 500,000).

Takes effect immediately upon becoming law.