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IL SB3610
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Chris Balkema
Click for details
AI Summary
- Raises the revenue threshold for governmental unit audit requirements from $850,000 to $1,500,000, allowing more local governments to use simplified reporting options instead of annual audits
- Governmental units below the $1,500,000 threshold may either conduct audits every 4 years with annual financial reports to the Comptroller, or file annual reports approved by a 3/5 majority vote at a public meeting
- Units at or above $1,500,000 must conduct annual audits and file both audit reports and financial reports with the Comptroller, making copies part of the public record
- New threshold takes effect for fiscal year 2027 for units below $1,500,000 and fiscal year 2028 for units at or above $1,500,000
- Excludes school districts, certain municipalities, counties over 1 million population, and entities already audited by the Auditor General from these requirements
Legislative Description
GOVT ACCOUNT AUDIT THRESHOLD
Last Action
Added as Co-Sponsor Sen. Sally J. Turner
3/12/2026
Committee Referrals
Assignments2/5/2026
Full Bill Text
No bill text available