Article 3 - Fiscal Controls - Illinois Statutes

      (30 ILCS 10/Art. 3 heading)ARTICLE 3. FISCAL CONTROLS.

(30 ILCS 10/3001) (from Ch. 15, par. 3001)     Sec. 3001. Internal controls required. All State agencies shall establish and maintain a system, or systems, of internal fiscal and administrative controls, which shall provide assurance that:         (1) resources are utilized efficiently, effectively,

and in compliance with applicable law;

(2) obligations and costs are in compliance with

applicable law;

(3) funds, property, and other assets and resources

are safeguarded against waste, loss, unauthorized use, and misappropriation;

(4) revenues, expenditures, and transfers of assets,

resources, or funds applicable to operations are properly recorded and accounted for to permit the preparation of accounts and reliable financial and statistical reports and to maintain accountability over the State's resources; and

(5) funds held outside the State Treasury are

managed, used, and obtained in strict accordance with the terms of their enabling authorities and that no unauthorized funds exist.

(Source: P.A. 86‑936.)

(30 ILCS 10/3002) (from Ch. 15, par. 3002)     Sec. 3002. Certification guidelines for chief executive officers.     (a) By the next March 1 after the date this Act takes effect, the Comptroller, in consultation with the Director of Central Management Services, shall establish guidelines for:         (1) the evaluation by State agencies of their

systems of internal fiscal and administrative controls to determine whether the systems comply with the requirements of Section 3001; and

(2) the certification by chief executive officers

required by Section 3003.

(b) The guidelines must be approved by the Legislative Audit Commission and may be modified, as needed, with the Commission's approval. (Source: P.A. 86‑936.)

(30 ILCS 10/3003) (from Ch. 15, par. 3003)     Sec. 3003. Certification by chief executive officers.     (a) By May 1 of each year, each chief executive officer of all State agencies shall, on the basis of an evaluation conducted in accordance with guidelines established under Section 3002, prepare and transmit to the Auditor General a certification that:         (1) the systems of internal fiscal and

administrative controls of the State agency fully comply with the requirements of this Act; or

(2) the systems of internal fiscal and

administrative controls of the State agency do not fully comply with the requirements of this Act.

(b) If the systems do not fully comply with the requirements of this Act, the certification shall include a report describing any material weaknesses in the systems of internal fiscal and administrative controls and the plans and schedule for correcting the weaknesses, or a statement of the reasons why the weaknesses cannot be corrected. (Source: P.A. 86‑936.)

(30 ILCS 10/3004) (from Ch. 15, par. 3004)     Sec. 3004. The Supreme Court will establish by its rulemaking authority or by administrative order procedures to annually assess the adequacy of internal controls for State‑funded activities of the judicial branch, using procedures consistent with the intent of this Article. (Source: P.A. 86‑936.)