New Law Changes Annual Town Meeting Requirements regarding Annual Financial Statements
There has been a recent amendment to the Township Code that
may result in quicker annual town meetings! The General Assembly passed
Public Act 98-1108, which became effective on January 1, 2015, amended 60 ILCS 1/70-50
of the Illinois Township Code to modify the requirement that the township clerk
read the annual financial statement aloud at the annual town meeting.
The
new language specifies that, “The clerk shall also read aloud the unaudited
statement or provide a copy of the unaudited statement to the electors at
the annual township meeting.” Consequently, as long as you distribute
copies of the financial statements to the electors, there will be no need to
read them aloud. So there is no confusion as time passes, we recommend
that the minutes of the annual town meeting reflect that the clerk distributed
the annual financial statement to the electors and that a copy of the statement
be appended to the minutes.
Post Authored by Keri-Lyn Krafthefer, Ancel Glink
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