Ill. Admin. Code tit. 89, § 1110.130 - Audits
a) Each Grantee
agency shall have an annual audit of its financial statements performed at the
close of its fiscal year by an independent certified public accountant licensed
by the State of Illinois. The report shall contain the basic financial
statements presenting the financial position of the agency, the results of its
operations, and changes in fund balances. The report shall also contain the
auditor's opinion regarding the financial statements taken as a whole, or an
assertion to the effect that an opinion cannot be expressed. If the auditor
expresses a qualified opinion, a disclaimer of opinion, or an adverse opinion,
the reason must be stated.
b) Audit
Report
1) Private not-for-profit agencies
must submit a copy of their most recently completed audit.
2) Governmental entities must have on site a
copy of their most recently completed audit for review by the Administrator
during site visits.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.