Ill. Admin. Code tit. 74 § 760.580

Current through Register Vol. 48, No. 45, November 8, 2024

Section 760.580 - Notice to State Agencies and Units of Local Government

a)If the administrator reasonably believes that the apparent owner of property presumed abandoned held by the administrator under this Act is a unit of local government in this State which files an audit report or annual financial report with the Comptroller, the administrator may give written notice to the person or persons identified in the most recent annual financial report as the contact person, the chief executive officer, and the chief financial officer. [765 ILCS 1026/15-504(b) ]

1) Various state laws mandate that specified units of local government file an annual financial report with the Comptroller. The Governmental Account Audit Act mandates each governmental unit file an annual financial report with the Comptroller. [50 ILCS 310] The Illinois Municipal Auditing Law in the Illinois Municipal Code mandates each municipality file an annual financial report with the Comptroller. [65 ILCS 5/8-8-1] The County Auditing Law of the Counties Code mandates that counties file an annual financial report with the Comptroller. [55 ILCS 5/6-31001 ]

2) The Comptroller requires as part of the annual financial report that the unit of local government provide contact information for a Contact Person, the Chief Executive Official, and the Chief Financial Officer. Depending upon the unit of local government these may all be separate individuals or the same individual. The Comptroller requires the unit of local government to validate an email address for each listed government official.

3) The administrator may provide notice to a unit of local government by sending a written notice to the Contact Person, the Chief Executive Official, and the Chief Financial Officer indicated in the most recent annual financial report filed with the Comptroller. A holder may report unclaimed property to the administrator with the name of a previous official or employee of a unit of local government, but the administrator should provide notice to the current officials or employees designated by the unit of local government. The written notice from the administrator may be by e-mail or U.S. Mail or both.

b)If the administrator reasonably believes that the apparent owner of property presumed abandoned held by the administrator under this Act is a State agency as defined in the Illinois State Auditing Act [30 ILCS 5/1-7 ], the administrator may give written notice to the person whom the records of the Comptroller indicate are the chief executive officer and chief fiscal officer of such State agency. [765 ILCS 1026/15-504(c) ]

Ill. Admin. Code tit. 74, § 760.580

Added at 48 Ill. Reg. 14162, effective 9/10/2024