SB2836

SB2836 modifies audit procedures for Illinois governmental units, affecting fiscal years 2028 and beyond.

SB2836 amends the Governmental Account Audit Act to change audit procedures for Illinois governmental units starting with fiscal years 2028. It mandates that governmental units with revenue exceeding $1,400,000 annually must undergo annual audits by certified public accountants, while those with less than $1,400,000 can opt for a 4-year audit cycle. The act also requires these units to file annual financial reports with the Comptroller, who must post these reports online within 45 days. The Comptroller is tasked with maintaining a list of non-compliant units.