Illinois HB1082 modifies municipal audit requirements, adjusting the frequency and scope of audits for different population sizes and fiscal.
HB1082 amends the Illinois Municipal Auditing Law to change audit requirements for municipalities. Until Fiscal Year 2026, municipalities with populations of 800 or more, or those owning or operating public utilities and having bonded debt, must undergo annual audits. Smaller municipalities without public utilities or bonded debt must file annual financial reports.
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