reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart D - ACCOUNTING › Section 800.310 - Investment Account

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				For the purpose of achieving the maximum advantages of investment management,
				the invested assets for any fund under the jurisdiction and authority of the
				Board may be commingled and maintained in one or more investment accounts, to
				the extent dictated by basic investment considerations, with a distribution
				made according to types of securities as may be dictated by practical
				investment procedure. The distribution of assets shall be dictated by the Board
				in accordance with its asset allocation policy. The commingling of investment
				assets shall allow:
1) Control over the
				Board's investment policies through increased flexibility in asset allocation;
				and
2) Simplified accounting and
				reporting procedures.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart D - ACCOUNTING › Section 800.320 - Fund Credits

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Each fund transferring invested assets to the Board shall receive credit in an
				appropriate reserve account in the amounts established by the Board. The credit
				shall constitute the initial value of the investment account of the particular
				fund. As new investments are made from additional moneys made available to the
				Board for that purpose, proper credit in the established reserve account shall
				be given to each fund for the proportionate amount applicable to each fund
				according to the amounts of moneys creditable to each fund. Reserve amounts
				shall be determined by:
1) Allocating expenses
				and advances on an equitable, proportional basis, taking into account the net
				asset values of each member retirement system, or any other fund under the
				jurisdiction and authority of the Board;
2) Allocating the net change in realized and
				unrealized gains and losses to each member retirement system, or any other fund
				under the jurisdiction and authority of the Board, on the
				15th of each calendar month, based on the final
				percentage of ownership of each member retirement system, or any other fund
				under the jurisdiction and authority of the Board, for the prior calendar
				month; and
3) Allocating the net
				change in income and expenses for the calendar month to each member retirement
				system, or any other fund under the jurisdiction and authority of the Board, on
				the 30th of each calendar month, taking into account
				any purchases or redemptions in ownership shares from each member retirement
				system, or any other fund under the jurisdiction and authority of the Board,
				during that calendar month.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart D - ACCOUNTING › Section 800.330 - Fund Charges

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Each fund shall be charged with its share of all expenses of the Board,
				including the amount repayable to the State of the initial appropriation made
				to meet organization expenses, at quarter-yearly periods, on a pro-rata basis,
				according to the value of the investments held for the respective fund at the
				beginning of each quarter-yearly period, or on any other equitable basis as may
				be determined by the Board.
b) A
				statement setting forth the amount of the expense charge made by the Board
				shall be provided to each pension fund as prescribed by Section 22A-114 of the
				Pension Code.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart D - ACCOUNTING › Section 800.340 - Reserve Balances

Current through Register Vol. 48, No. 28, July 12, 2024
This Subpart is specifically designed to establish and
				  maintain for each fund a reserve representing an equitable share of the net
				  assets of the Board to the end that each fund shall, at all times, receive full
				  credit for all moneys creditable to that fund in the form of invested assets or
				  free cash balances or any other applicable assets that may exist at any given
				  date.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart E - REPORTS › Section 800.410 - Fiscal Reporting

Current through Register Vol. 48, No. 28, July 12, 2024
An annual report shall be made by the Board following the
				  close of each fiscal year. The Board shall approve the report and direct that
				  it be filed by the Executive Director with the Department of Insurance or any
				  other regulatory body as provided by law. The report shall embody a review of
				  investment operations for the year, including a listing of all invested assets
				  showing their book values and market values, the balances applicable to the
				  several funds under the jurisdiction and authority of the Board, comment on the
				  policies and procedures maintained by the Board during the year, and
				  recommendations on any possible future changes in the governing statute or
				  Board policies.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart E - REPORTS › Section 800.420 - Audits

Current through Register Vol. 48, No. 28, July 12, 2024
In accordance with established State policy, the books and
				  accounts of the Board shall be audited at least annually by a certified public
				  accountant designated by the Auditor General of the State of Illinois. The
				  scope of the audit may, upon suggestion of the Board, extend beyond the
				  limitations prescribed by the Auditor General. The results of the audit shall
				  be reported in the annual report of the Board. Copies of the audit report shall
				  be made available to the several funds under the jurisdiction and authority of
				  the Board.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 800 - RULES AND REGULATIONS OF THE BOARD › Subpart F - AMENDMENTS › Section 800.510 - Amendments

Current through Register Vol. 48, No. 28, July 12, 2024
Amendments to this Part may be proposed by any member of the
				  Board, shall be submitted to the Board's General Counsel in writing, and shall
				  be acted upon in the following manner:
a) Upon receipt of a proposal for an
				amendment, the Board's General Counsel shall distribute a copy to each member
				of the Board setting forth in full the proposed amendment at least 10 days
				prior to the date of any regular or special meeting at which the proposal will
				be submitted for consideration.
b)
				At the next regular or special meeting following the distribution of the
				notice, or at any meeting thereafter to which consideration of the amendment
				has been postponed, the amendment may be adopted by a vote of at least a
				majority of all members of the Board. At the meeting, the proposed amendment
				may be modified before being acted upon, without the necessity of any further
				notice to the members, provided that the amendment as modified shall be
				applicable only to those Sections or subsections to which the notice
				specifically referred, and provided further that any modification shall be
				approved by at least a majority of all members of the Board.
c) When the Board has approved a proposal to
				amend this Part, the amendment shall be proposed and adopted as required by the
				Illinois Administrative Procedure Act [ 5 ILCS 100 ].
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.10 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
a) These rules are
			 applicable to all State agencies as defined in the Illinois State Auditing Act
			 [30 ILCS 5 ] and shall be followed in determining whether and to what extent
			 late payment interest is due.
b)
			 These rules apply to any bill for Goods or Services payable from funds
			 appropriated by the General Assembly for periods on and after July 1, 2002, and
			 do not affect bills payable from funds appropriated for prior
			 periods.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
Except as otherwise defined in Section
				900.130,
				the following definitions shall be used in interpreting these rules:
"Act" shall be defined as: the State Prompt Payment Act [30
				ILCS 540 ].
"Agency Head" shall be defined as: those persons given
				authority to approve payments for the various State officials and agencies as
				specified in the Act and Section 10 of the State Finance Act [30 ILCS
				105/10 ].
"Bill" shall be defined as: the Vendor's standard bill or
				invoice for goods or services. For purposes of this Part, bill shall include a
				State employee's travel voucher submitted when the State employee has paid for
				the travel and will be reimbursed by the State.
"DCMS" shall be defined as: the Department of Central
				Management Services.
"Date of Approval of the Vendor's Bill" shall be defined as:
				the date on which the Agency Head or designee signs the voucher requesting the
				Comptroller's Office to pay the bill. For agencies whose computer systems
				automatically record an approval date as a voucher is prepared, the "Date of
				Approval" shall be defined as the approval date recorded by the computer
				system.
"Date of Payment" shall be defined as: the date of issuance of
				the payment by the Comptroller's office.
"Goods and Services" and "Goods or Services" shall be defined
				as: items of merchandise, supplies, raw materials, finished goods and duty,
				duties or labor rendered by one or more persons to a State official or agency
				for monetary or other consideration.
"Month" shall be defined as: any 30-day period.
"Proper Bill" shall be defined as: a bill or invoice containing
				sufficient and correct information necessary to process the payment for a
				liability of a State agency as provided in this Part, the Comptroller's
				Statewide Accounting Management System (SAMS) manual, or as otherwise specified
				by the State agency responsible for payment.
"Vendor" shall be defined as: seller of goods or services. For
				purposes of this Part, Vendor shall include State employees who submit a travel
				voucher for reimbursement to the employees for travel.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.30 - General Duties of State Agencies

Current through Register Vol. 48, No. 28, July 12, 2024
a) It is the duty and responsibility of each
			 State agency to develop and implement internal procedures that will permit full
			 compliance with the provisions of the Act, this Part and the Comptroller's SAMS
			 manual.
b) All State agencies must
			 maintain written or electronic records reflecting the date or dates on which:
1) the Goods were received and accepted or
			 the Services were rendered;
2) the
			 Proper Bill was received by the State agency;
3) approval for payment of a bill was given
			 by the Agency;
4) a Vendor bill was
			 disapproved, in whole or in part, based upon a defect or what the State agency
			 believes to be a defeat; and
5) the
			 payment was issued by the Comptroller's Office.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.35 - Duties of State Agencies: Interest Payments

Current through Register Vol. 48, No. 28, July 12, 2024
a) Interest penalty payments must be
			 processed on a voucher, separate from the voucher the State agency submits for
			 payment of the bill, payable to the Vendor. The voucher submitted for payment
			 of the interest penalty shall include the date from which the interest penalty
			 is calculated, the date of payment of the bill, and the voucher number of the
			 voucher submitted by the Agency for payment of the bill.
b) Interest penalty payments must be charged
			 to the same expenditure authority account to which the related Goods or
			 Services were charged, and indicate the detail object code for interest payable
			 under the Act as specified in the SAMS manual. If the payment for Goods or
			 Services was charged to an appropriation that has since been reappropriated,
			 the interest penalty payment must be charged to the reappropriation.
c) In the event the appropriation originally
			 charged for the Goods or Services is exhausted and not reappropriated, the
			 State agency shall, if authorized by law, transfer and obligate funds into the
			 proper appropriation pursuant to
			 30
			 ILCS 105/13.2 for payment of the interest
			 penalty.
d) In the event the
			 appropriation originally charged with the Goods or Services is exhausted and
			 the State agency has exhausted its transfer of funds authority pursuant to
			 30
			 ILCS 105/13.2, the appropriation has lapsed or the
			 agency has improperly refused to pay interest, Vendors may have recourse before
			 the Court of Claims for payment of interest penalties.
e) An interest penalty payment shall be
			 deemed an outstanding liability of the fiscal year during which the contract
			 for the Goods or Services giving rise to the interest penalty was
			 entered.
f) Upon receipt of a
			 Vendor's written request or statement for the interest penalty, the State
			 agency must respond to the Vendor's request within 60 days if the interest
			 penalty is not appropriate under the Act, this Part, or the Comptroller's SAMS
			 manual, along with the reason why the interest penalty will not be paid. If
			 requests for interest should be presented to the Court of Claims, that
			 requirement should be communicated to the Vendor.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.40 - Statement Indicating That Interest Penalty May Be Available

Current through Register Vol. 48, No. 28, July 12, 2024
a) The remittance
			 advice of each commercial payment must contain the following statement or words
			 of similar meaning:
"Payment of interest may be available if the State fails to
				comply with the State Prompt Payment Act [30 ILCS 540 ]."
b) In the case of electronic payments, the
			 statement may be transmitted electronically or otherwise reflected within the
			 information authorizing electronic payments.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.50 - Other Interest Provisions

Current through Register Vol. 48, No. 28, July 12, 2024
No agency may enter into a contract with a late payment
				interest provision more generous to the vendor than that provided in this
				Part.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.60 - When a Payment is Late

Current through Register Vol. 48, No. 28, July 12, 2024
For bills payable from funds appropriated prior to FY03, a
				payment is late if the Date of Payment is not within 60 days after the Date of
				Approval of the Vendor's bill. For bills payable from funds appropriated on and
				after July 1, 2002, a payment is late if the Date of Payment is not within 60
				days after the receipt of a Proper Bill. For bills payable from funds
				appropriated on and after December 28, 2012, a payment is late if the Date of
				Payment is not within 90 days after the receipt of a Proper
				Bill.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.70 - Approval by the State

Current through Register Vol. 48, No. 28, July 12, 2024
a) A
			 State agency shall review in a timely manner each bill after its receipt to
			 determine if the bill is a Proper Bill. A bill is not a Proper Bill if it
			 contains one of the following defects:
1)
			 lacks sufficient and/or correct information required by the agency to process
			 the bill;
2) lacks the Vendor's
			 taxpayer identification number or a completed Internal Revenue Service Form W-9
			 or Form 147C certifying that the Vendor's taxpayer identification number has
			 been applied for but not received and the Vendor is not subject to backup
			 withholding due to underreporting; or
3) is directed to an address or person other
			 than the one designated in written instructions from the State.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.80 - Submission and Receipt of Bills

Current through Register Vol. 48, No. 28, July 12, 2024
a) A bill submitted, lacking sufficient
			 and/or correct information required by the State agency to process the bill,
			 lacking taxpayer identification number, or to an address or person other than
			 one designated in written instructions from the State shall not be considered a
			 Proper Bill until it is completed, additional information provided, or it
			 reaches the proper address or person.
b) A bill submitted lacking the Vendor's
			 federal taxpayer identification number shall not be considered a Proper Bill
			 until the Vendor provides the taxpayer identification number or a completed
			 Internal Revenue Service Form W-9 or Form 147C certifying that the Vendor's
			 taxpayer identification number has been applied for but not received and that
			 the Vendor is not subject to backup withholding due to
			 underreporting.
c) A bill received
			 prior to acceptance of Goods or Services by the State shall be considered a
			 Proper Bill no earlier than the date of acceptance. Acceptance means the date
			 on which the State, to the best of its ability at that time, determines
			 contract requirements have been met. Acceptance for late payment calculation
			 shall not be used by any Vendor to show acceptance of the Goods or Services for
			 any other purpose.
d) A bill
			 received after acceptance of Goods or Services may be considered a Proper Bill
			 no earlier than the date of receipt of the bill.
e) A Vendor may submit bills for future
			 performance, such as to make lease or installment purchase payments, in advance
			 of scheduled due dates, but such bills for purposes of this Part shall not be
			 considered received by the State any earlier than when the future performance
			 by the vendor begins.
f) When the
			 parties do not contemplate submission of a physical bill to the State, such as
			 to make scheduled payments per the terms of a contract, the date of final
			 receipt or acceptance, whichever is later, of the Goods or Services shall be
			 considered the date of the bill.
g)
			 State employees who are reimbursed by the State for their travel may receive
			 late payment interest in accordance with this Part.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.90 - When and How Vendors Must Request Interest

Current through Register Vol. 48, No. 28, July 12, 2024
a) Interest amounting to $50 or more need not
			 be requested by a Vendor. Agencies are responsible for calculating and paying
			 such interest and are to do so within a reasonable time.
b) Interest amounting to $5 but less than $50
			 must be requested by the Vendor.
1) The
			 Vendor must submit a written statement to the appropriate State agency
			 specifically requesting the State agency to pay an interest penalty to the
			 Vendor.
2) The statement must
			 include a description of the original transaction, the Vendor's taxpayer
			 identification number, the date of the Vendor's invoice, the invoice amount and
			 the date the bill was presented to the Agency.
3) The statement should, if possible, include
			 the Vendor's invoice number, the voucher number, the appropriation account
			 code, the obligation number, the exact name of the Vendor or payee as the name
			 appeared on the payment warrant, an estimate of the date upon which the
			 interest penalty begins to accrue and any other information reasonably needed
			 by the State agency to verify the interest penalty payment.
4) A request for the late payment interest
			 penalty should be submitted within 90 days after the Date of Payment.
5) Agencies are responsible for paying such
			 interest and are to do so within a reasonable time.
6) Upon written request by the Vendor, an
			 agency must disclose to the Vendor the date upon which an interest penalty
			 begins to accrue.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.100 - Calculation of Interest

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Interest is calculated at the rate of 1% per month. This results in a daily
			 interest factor of .00033 (01/30).
b) For each day payment is late, the amount
			 late shall be multiplied by the daily interest factor to determine the late
			 payment charge.
c) The interest
			 penalty shall be simple interest and not compound interest, meaning that the
			 interest penalty is computed on the amount of the bill only and shall not
			 include previously accrued interest.
d) For bills payable from funds appropriated
			 on and after December 28, 2012, interest shall begin accruing on the
			 91st day after receipt of a Proper Bill and shall
			 continue to accrue until the bill is paid by the Comptroller's Office. For
			 bills payable from funds appropriated prior to December 28, 2012, interest
			 shall begin accruing on the 61st day after receipt
			 of a Proper Bill and shall continue to accrue until the bill is paid by the
			 Comptroller's Office.
e) Interest
			 shall not accrue on the Date of Payment. In the event the Date of Payment is
			 the same date that interest begins to accrue, there shall be no interest
			 payable by the State for purposes of efficiency to the State.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.110 - No Interest on Interest

Current through Register Vol. 48, No. 28, July 12, 2024
A request for payment of interest under this Act is not
				considered a bill and, therefore, not subject to the provisions of the Act;
				interest is not paid on an interest payment.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.120 - Exclusions

Current through Register Vol. 48, No. 28, July 12, 2024
The following non-exhaustive list represents the types of
				payments that are excluded from the Act and consequently do not qualify for
				interest penalties:
a) Inter- and
			 intra-agency payments. This includes transfers and payments to revolving funds,
			 reimbursement of petty cash funds and imprest accounts, inter-fund transfers
			 and inter-fund payments in which an agency or department serves as the Vendor
			 of Goods or Services.
b) Payments
			 to State employees for personal services (salary only and not including health
			 insurance benefits).
c) Awards and
			 grants, as defined by the Comptroller's Office in SAMS Manual Procedure 15,
			 including pass-through grants and distributive payments and refunds.
d) Contract retainers associated with
			 construction contracts.
e) State
			 Board of Education categorical grants.
f) Community College Board grants.
g) Illinois Student Assistance Commission
			 grants.
h) Payments to local
			 government entities, including school districts.
i) Payments of interest penalties.
j) Payments made to contractual employees
			 (these payments are generally made via a Contractual Services Payroll
			 Voucher).
k) Payments from accounts
			 or funds not appropriated by the General Assembly.
l) Gratuitous payments made to induce a
			 business to remain in or to locate in this State.
m) Any type of payment to a Vendor assigned
			 or sold by that Vendor to a different payee (including any assignments or sales
			 made by the vendors to the Department of Healthcare and Family Services),
			 except for assignments or sales made pursuant to a vendor payment program
			 approved by the Department of Central Management Services and the
			 Comptroller.
n) Barter
			 transactions.
o) Payments made by a
			 State agency comprised of federal funds only and no State or local
			 funds.
p) Medical and claims
			 payments under the Workers' Compensation [820 ILCS 305 ] and Workers'
			 Occupational Diseases [820 ILCS 310 ] Acts.
q) Tax refunds.
r) State Employee's Group Insurance Program
			 payments covered by late payment interest provisions in Sections 368a and 370a
			 of the Illinois Insurance Code [215 ILCS 5 ].
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.130 - Special Rules and Procedures Regarding the Application of the Act to the State Employee's Group Insurance Program

Current through Register Vol. 48, No. 28, July 12, 2024
For claims for payment related to the State Employee's Group
				Insurance Program the following applies:
a) Late payment interest pertaining to health
			 care payments may be made to and requested by a:
1) Member - any person who receives benefits
			 through the State Employees Group Insurance Act program and whose benefits are
			 paid through the Health Insurance Reserve Fund.
2) Vendor - any provider of health care to a
			 member.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT › Section 900.140 - Resolution of Disputes

Current through Register Vol. 48, No. 28, July 12, 2024
In the event a situation arises which is not covered by this
				Part or the proper course of action is unclear, the Comptroller and the
				Director of the Department of Central Management Services or their designees
				shall meet to make determinations and, if necessary, suggest modifications to
				the rules to be adopted pursuant to Sections 5-40, 5-45 or 5-50 of the IAPA. In
				any such determination, the interested parties will be given an opportunity to
				make their views known as a part of the decision making process. The
				Comptroller and the Director of the Department of Central Management Services
				shall employ the following standards in making interpretations of this
				Part:
a) fairness to the Vendor and to
			 the State.
b) avoidance of
			 litigation.
c) efficiency to the
			 State.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1000 - INTERNAL SERVICE FUNDS › Section 1000.10 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
a) This Part
			 applies to each of the Internal Service Funds administered by the Department of
			 Central Management Services, herein referred to as the Department.
b) The following is a non-exclusive listing
			 of those funds:
1) State Garage Revolving
			 Fund
2) Statistical Services
			 Revolving Fund
3) Office Supplies
			 Revolving Fund
4) Paper and
			 Printing Revolving Fund
5)
			 Communications Revolving Fund
6)
			 State Surplus Property Revolving Fund
7) Health Insurance Reserve Fund
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1000 - INTERNAL SERVICE FUNDS › Section 1000.20 - Advance Billings Based Upon Estimated Charges

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department shall make reasonable
			 efforts to bill and collect Internal Service Fund receivables in the fiscal
			 year in which the user agency's account liability was incurred.
b) During the lapse period, the Department
			 may bill user agencies based on estimated charges for goods and services
			 received by user agencies when unbilled fiscal year receivables have been
			 identified and it is unlikely that sufficient documentation will be received by
			 the Department in time to allow both the Department billing process and user
			 agency payment process to be completed during the lapse period. Computation of
			 advance billing amounts will be based upon remaining unprocessed open work
			 orders, authorizations without vendor invoices, and/or other similar sources.
			 Advance billing amounts shall be based upon the best information available to
			 the Department at the time the advance billing is prepared.
c) The Department may enter into agreements
			 with user agencies for advance billings at other times during the fiscal year
			 based on estimated charges for goods and services to be received by the user
			 agency during the fiscal year.
d)
			 The Department shall not issue undocumented advance billings for the purpose of
			 intentionally expending a user agency's remaining appropriation
			 balances.
e) The Department shall
			 not issue advance billings for the purpose of creating undocumented credit
			 balances which intentionally transfer a user agency's unexpended appropriation
			 balances to the following fiscal year through the credit process described in
			 Section
			 1000.40.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1000 - INTERNAL SERVICE FUNDS › Section 1000.30 - Credits Issued For Prior Fiscal Year Overpayments

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department shall issue credits for
			 application in the subsequent fiscal year for those user agency accounts which
			 show an accounts receivable credit balance for the prior fiscal year. Credits
			 for prior fiscal year accounts receivable credit balances will be issued when
			 the Internal Service Fund is reasonably certain that:
1) All prior fiscal year billing activity has
			 been posted;
2) All agency payments
			 related to prior year billing activity have been posted; and
3) No activity remains in process related to
			 prior fiscal year accounts receivable.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1000 - INTERNAL SERVICE FUNDS › Section 1000.40 - Catch-Up Billings For Prior Fiscal Year Amounts Due

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department shall issue catch-up
			 billings in the subsequent fiscal year for those user agency accounts which
			 show an accounts receivable debit balance for the prior fiscal year. Catch-up
			 billings for prior fiscal year account balances due will be issued when the
			 Internal Service Fund is reasonably certain that:
1) All prior fiscal year billing activity has
			 been posted;
2) All agency payments
			 related to prior year billing activity have been posted; and
3) No activity remains in process related to
			 prior fiscal year accounts receivable.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1000 - INTERNAL SERVICE FUNDS › Section 1000.50 - User Agency Payments

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 User agencies shall process payments within 30 days after physical receipt of
			 Internal Service Fund bills. User agencies shall immediately notify the
			 Department of any additional information that is necessary to review an
			 Internal Service Fund bill.
b) User
			 agencies shall make reasonable efforts to review, approve, and pay all Internal
			 Service Fund bills in the fiscal year in which the liability was incurred or
			 within the fiscal year that the Department issues a catch-up billing. User
			 agencies shall not leave Internal Service Fund bills unpaid in order to
			 circumvent fiscal year budgetary controls.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.100 - Composition, Appointment and Terms of Office

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Board of the Authority shall be
				composed of 15 members as specified in Section 801-15 of the Act.
b) Members shall be appointed and confirmed
				in the manner provided in Section 801-15 of the Act, and for such terms as
				provided in Section 801-15 of the Act and shall serve until their successors
				are appointed and have qualified.
c) The Board may declare a vacancy for a
				member when it shall determine that a member has resigned, no longer resides
				within the State of Illinois, or has become incapacitated and rendered
				incapable of serving or performing duties as a member.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.105 - Board Chairman

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Pursuant to Section 801-15 of the Act, the Governor shall appoint a Chairman of
				the Board for a 2 year term.
b) The
				Chairman shall preside at all meetings of the Authority and perform such other
				duties as are set forth in this Part.
c) The Board Chairman may establish such
				standing, ad hoc or other special committees as he deems necessary. The
				composition, Chairmen, and duties of such committees shall be specified by the
				Board Chairman.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.115 - Meetings

Current through Register Vol. 48, No. 28, July 12, 2024
a) Open Meetings
				Act. It is the public policy of the Authority that it exists to aid in the
				conduct of the business of the people of the State. It is the Authority's
				intent that its actions shall be taken and its deliberations be conducted
				openly. The Authority shall conduct all its meetings in conformity with the
				provisions of the Open Meetings Act [5 ILCS 120.
b) Closed Sessions. The Authority may hold
				closed sessions only for the purposes permitted by the Open Meetings Act,
				including sessions where:
1) the Board is
				negotiating matters with its employees or representatives;
2) the Board is considering the acquisition
				of real property or a court proceeding against or on behalf of the Authority,
				but no other portion of such meetings may be closed to the public;
3) the Board is considering information
				regarding appointment, employment or dismissal or an employee or officer or
				hearing testimony on a complaint lodged against an employee or officer to
				determine its validity, but no final action shall be taken at closed
				session;
4) where federal
				regulation requires closed sessions;
5) an advisory committee appointed to provide
				the Board with professional consultation on matters germane to its field of
				competence considers matters of professional ethics or performance;
6) the Board meets to establish reserves or
				to settle claims as provided in the Local Governmental and Governmental
				Employees Tort Immunity Act [745 ILCS 10 ] if otherwise the disposition of a
				claim or potential claim might be prejudiced.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.120 - Records and Reports

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall maintain files available to the public
				  containing all information declared public in the Act, the regulations issued
				  under the Act, and in the Open Meetings Act [5 ILCS 120 ]. All such files shall
				  be open to reasonable public inspection and copying at the principal office of
				  the Authority.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.125 - Public Participation

Current through Register Vol. 48, No. 28, July 12, 2024
a) Public Participation at Open Meetings.
				Members of the public who wish to present their views at a Board meeting shall
				contact the Executive Director in writing. Requests shall outline the subject
				to be addressed at the meeting. A presentation shall be placed on the agenda of
				a Board meeting if the request is received by the Executive Director at least
				one week prior to that meeting. Requests received by the Executive Director
				less than one week prior to a Board meeting shall be deferred to the following
				meeting. At the Board meeting, ten minutes shall generally be scheduled for
				each presentation. At the discretion of the Board, more time may be allowed.
				Additional time will be allowed if the complexity of the background data so
				requires, or if the proposed use of the proceeds of an Authority loan must be
				closely scrutinized to determine that it meets the programmatic guidelines that
				have been set out in the applicable rules and regulations. The Executive
				Director, or a designee, shall notify the requesting party of the exact time
				and place for the presentation before the Board. This notification shall be by
				phone call, and followed up by a confirming letter. On the date of the Board
				presentation, each person scheduled to make a presentation, or each member of a
				delegation, shall sign a registration sheet located at the reception
				desk.
b) Petition to Promulgate,
				Amend, or Repeal a Rule
1) An interested
				person or legal entity may petition the Authority requesting promulgation,
				amendment or repeal of a rule. The petition shall be in writing, signed by or
				on the behalf of the petitioner and shall contain a statement of:
A) The rule sought to be promulgated, amended
				or repealed. A rule proposed to be amended shall be stated in full with
				proposed deletion enclosed in brackets, and proposed additions
				underlined.
B) Factual rationale
				for the proposed action.
C) Any
				propositions of law to be asserted.
D) Factual account of impact on petitioner,
				of proposed action.
E) Name and
				address of petitioner and any other person or entity known to be interested in
				the rule sought to be adopted, amended, or repealed.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.130 - Rulemaking Procedures

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority has authority to adopt and promulgate rules
				  pursuant to the Illinois Finance Authority Act [20 ILCS 3501 ] and the Illinois
				  Administrative Procedure Act [5 ILCS 100 ]. The Authority shall follow the
				  following procedure in the adoption of rules:
a) The Authority may at any time and in any
				manner direct the Executive Director to recommend a proposed rule to the Board
				for its review. Such directive may specify the policy to be implemented by such
				proposed rule or may allow the Executive Director to recommend a policy to be
				implemented by such proposed rule.
b) At the meeting specified by the Board or
				the Chairman, the Executive Director shall submit the recommended proposed rule
				to the Board. Upon consideration of such submission, the Board may, upon a vote
				in accordance with this Part, either direct the Executive Director to revise
				such recommended proposed rule or approve the proposed rule as submitted or as
				modified by the Authority.
1) Upon such
				approval of a rule as a proposed rule, the Authority shall:
A) give at least 45 days' notice to the
				general public of its intent to adopt a final rule. This period (hereinafter
				the "First Notice Period") shall commence on the first day the notice appears
				in the Illinois Register. The notice shall be in the form prescribed by the
				Secretary of State and shall be submitted for publication in the Illinois
				Register in accordance with the rules promulgated by the Secretary of State.
				The notice shall include a text of the proposed rule, or the old and new
				materials of a proposed amendment, or the text of the provision to be repealed;
				the specific statutory citation upon which the proposed rule or proposed
				amendment or proposed repealer is based and is authorized; a complete
				description of the subjects and issues involved; and the time, place and manner
				in which interested persons may present their views and comments concerning the
				intended action (see 5 ILCS 100/ 5-40(b)).
B) afford all interested persons reasonable
				opportunity to submit data, views, arguments or comments, which may, in the
				discretion of the Authority, be submitted either orally or in writing or both.
				The notice published in the Illinois Register shall indicate the manner
				selected by the Authority for such submissions. The Authority shall consider
				fully all submissions respecting the proposed rule (see
				5 ILCS
				100/5-40(b) ).
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.135 - Purchasing Rules and Regulations

Current through Register Vol. 48, No. 28, July 12, 2024
a) Policy. Recognizing the necessity for
				economy in governmental expenditure, the Authority is committed to the
				practices of competitive bidding and centralized purchasing.
b) Centralized Purchasing. Certain agencies
				have been charged with the responsibility for the central procurement of
				specified goods and services. Accordingly, the Authority will obtain such goods
				and services as prescribed by law through such agencies, including the
				Department of Central Management Services and such agencies as may be
				designated by law. Such goods and services shall include but not be limited to
				the following: paper, stationery, envelopes, insurance, vehicle maintenance and
				repairs, telecommunications equipment and services, electronic data processing
				equipment and services and construction materials and services.
c) Acquisition of Services not elsewhere
				provided for in this Section. The Authority will enter into service agreements
				in accordance with the Illinois Procurement Code [30 ILCS 500 ].
d) Procurement Rules. The procurement rules
				of the Department of Central Management Services shall govern all procurements
				by the Authority.
e) Governing
				Provision. This Section is subject to the provisions of the Illinois
				Procurement Code and all other applicable laws of the State of
				Illinois.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.145 - Principal Office

Current through Register Vol. 48, No. 28, July 12, 2024
The principal office of the Authority shall be: 233 S. Wacker
				  Dr., Suite 4000, Chicago IL 60606.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.150 - Revision

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be amended by the affirmative vote of four or
				  more members of the Board, such amendment to be effectuated as provided by
				  law.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart A - ILLINOIS FINANCE AUTHORITY › Section 1100.155 - Construction; Waiver; Severability

Current through Register Vol. 48, No. 28, July 12, 2024
a) Action Consistent with Act. Nothing in
				this Part or any other rule of the Authority shall be construed as prohibiting
				the Authority from taking any action consistent with the Act.
b) Cases Not Covered by Rules. In any case
				not explicitly provided for by any rule of the Authority, the Authority may
				take such action as it deems necessary or appropriate to carry out the purposes
				of the Act.
c) Extension of Time.
				The Authority or the Executive Director, may, upon a showing of good cause and
				if time permits, extend the time allowed for the performance of any function or
				duty required by the provisions of any rule of the Authority. In making any
				determination with respect to good cause, the Authority and the Executive
				Director shall give due regard to all relevant facts and circumstances,
				including such considerations as the complexity of the issues or the existence
				of extraordinary circumstances or unforeseen events which have led to the
				request for an extension of time.
d) Severability. If any Section or provision
				of this Part or any other rule of the Authority is declared unconstitutional or
				void by a court of competent jurisdiction, or its applicability to any person
				or circumstances is held invalid, the constitutionality or validity of the
				remainder of this Part or any other rule of the Authority and the applicability
				to other persons and circumstances shall not be affected, and to this end, the
				Sections and provisions of this Part are declared to be severable.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart B - FINANCING PROGRAMS › Section 1100.200 - Summary and Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority operates several loan programs utilizing
				  revenue bonds and available program capital. Some or all of these programs are
				  available to businesses, local government, and not-for-profit institutions. The
				  purpose of the Authority is to utilize its statutory powers to increase jobs,
				  retain existing jobs, assist local government in accessing affordable
				  financing, facilitate capital financing of businesses and other eligible
				  organizations and generally to strengthen the economy and infastructure of the
				  State. This Subpart describes the policies of the Authority governing access to
				  its programs.