SCH CD-FIN AUDIT-CASH BASIS

Amends the School Code. Relative to the financial audits made annually by the Auditor General of the financial statements of all accounts, funds, and other moneys in the care, custody, or control of a regional superintendent of schools or educational service region, provides that the regional office of education or educational service center may utilize a cash basis, modified cash basis, or generally accepted accounting principles (GAAP) basis of accounting in the preparation of the financial statements. Makes changes to require audit reports to be published on the Auditor General's website and distributed in accordance with the Illinois State Auditing Act. Effective immediately.