Sec. 7.2. Quarterly financial reports.

200 words·~1 min read·/il/chapter-20/act-3005/7-2

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Sec. 7.2. Quarterly financial reports. The Office shall prepare and publish a quarterly financial report to update the public and the General Assembly on the status of the State's finances. At a minimum, each report shall include the following information:

(1)A review of the State's economic outlook.

(2)A review of general funds revenue performance, both quarterly and year to date, and

an evaluation of that performance.

(3)The outlook for future general funds revenue performance, including projections of

future general funds revenues.

(4)An assessment of the State's financial position, including a summary of general fund

receipts, transfers, expenditures, and liabilities.

(5)A review of Statewide employment statistics.

(6)Other information necessary to present the status of the State's finances.

(7)For the report covering the fourth quarter of State fiscal year 2015 only, the

report shall also include the information described in subsection

(e)of Section 8.50 of the State Finance Act.

In addition, the fourth quarter report for each fiscal year shall include a summary of fiscal and balanced budget notes issued by the Office to the General Assembly during the prior legislative session. Each report shall be posted on the Office's website within 45 days.