REPORT DIGEST

OFFICE OF COMPTROLLER – FISCAL OFFICER
RESPONSIBILITIES

FINANCIAL AUDIT
FOR THE YEAR ENDED JUNE 30, 2021

Release Date:  December 29, 2021

FINDINGS THIS AUDIT:  1

CATEGORY:  NEW -- REPEAT -- TOTAL
Category 1:  0 -- 0 -- 0
Category 2:  0 -- 0 -- 0
Category 3:  0 -- 1 -- 1
TOTAL:  0 -- 1 -- 1

FINDINGS LAST AUDIT: 1

Category 1: Findings that are material
weaknesses in internal control and/or
a qualification on compliance with
State laws and regulations (material
noncompliance).
Category 2: Findings that are
significant deficiencies in internal
control and noncompliance with State
laws and regulations.
Category 3: Findings that have no
internal control issues but are in
noncompliance with State laws and
regulations.

State of Illinois, Office of the
Auditor General
FRANK J. MAUTINO, AUDITOR GENERAL

To obtain a copy of the Report
contact:
Office of the Auditor General, Iles
Park Plaza, 740 E. Ash Street,
Springfield, IL 62703
(217) 782-6046 or TTY (888) 261-2887

This Report Digest and Full Report are
also available on the worldwide web at
www.auditor.illinois.gov

INTRODUCTION

This digest covers the Office of
Comptroller’s Fiscal Officer’s
Financial Audit as of and for the year
ended June 30, 2021. The Office of
Comptroller Fiscal Officer’s
Compliance Examination as of and for
the year ended June 30, 2021 will be
issued in a separate report at a later
date.

SYNOPSIS

• (21-1) The Office of Comptroller did
not ensure all statutorily mandated
transfers between State funds were
made within established timeframes, as
required.

FINDINGS, CONCLUSIONS, AND
RECOMMENDATIONS

LATE PAYMENT OF STATUTORILY MANDATED
TRANSFERS

The Office of Comptroller (Office) did
not ensure all statutorily mandated
transfers between State funds were
made within established timeframes, as
required.

The Office processed transfers from 31
to 398 days after the mandated
transfer date. The late transfers
outstanding as of and paid after June
30, 2021 totaled $1.07 billion.  The
Office also made 127 late transfers,
totaling $2.00 billion, between State
funds that were made between one and
30 days after the statutorily mandated
transfer date.  Lastly, we noted 420
late transfers, totaling $2.311
billion, which were still outstanding
as of October 19, 2021, relating to
fiscal year 2020, fiscal year 2019,
fiscal year 2018, and fiscal year
2017.  (Finding 1, pages 55-56)  This
finding was first reported in 2009.

We recommended the Office make
transfers within timeframes
established by applicable statute.
While we realize that the lack of
available funds in the State Treasury
requires prioritization and cash
management decisions, we recommended
the Office continue in its efforts to
make transfers in as timely a manner
as possible.

Office officials accepted the
recommendation and stated the Office
will make efforts to transfer funds
more timely; however, daily management
of cash flow for timely payments to
vendors will also factor into the
effort.

AUDITOR’S OPINION

The auditors stated the fund balances
at June 30, 2021, and the revenues and
expenditures for the year then ended
relating to the State of Illinois,
Office of the Comptroller - Fiscal
Officer Responsibilities’ Traditional
Budgetary Financial Report, are fairly
presented in all material respects.
The auditors noted the financial
statements have been prepared on a
comprehensive basis of accounting
other than accounting principles
generally accepted in the United
States of America.

The budgetary basis deficit of the
General Funds decreased by $2.947
billion during the fiscal year ended
June 30, 2021.  At June 30, 2020, the
budgetary basis fund balance of the
General Funds was a deficit of $2.804
billion.

This financial audit was conducted by
Sikich LLP.

JANE CLARK
Division Director

This report is transmitted in
accordance with Section 3-14 of the
Illinois State Auditing Act.

FRANK J. MAUTINO
Auditor General

FJM:PH