IL SB2196

Amends the State Finance Act to authorize transfers from 130+ state funds to the Audit Expense Fund within 30 days of the bill's effective date, with amounts ranging from $517 to $17,653,153 per fund.

Establishes that all Audit Expense Fund moneys must be used only for purposes authorized by the State Auditing Act and subject to its limitations and conditions.

Allows the Auditor General to bill private entities, related organizations, and locally-held fund entities for audit, study, and investigation costs, with revenues deposited into the Audit Expense Fund.

Requires the Auditor General to notify the Governor's Office of Management and Budget annually (by December 1) of estimated audit costs for each state fund, and permits redirection of excess transferred funds back to their originating funds by September 30 if transfers exceed actual audit costs.

Provides that if moneys in any authorized fund are unavailable due to deficiency or other reasons, the State Comptroller shall order transfers from the General Revenue Fund to cover the shortfall.