Current through Register Vol. 48, No. 38, September 20, 2024
a)
Mandatory Provisions
The following provisions are required for all contracts
entered into by the Treasurer's office, in addition to the requirements of
State and federal law and the regulations of the Office of the
Comptroller:
1) Subcontractors. Any
contract granted hereunder must state whether the services of a subcontractor
will be used. The contract must require the disclosure in writing of the names
and address of each subcontractor having a subcontract with an annual value of
more than $50,000, the general type of work to be performed by each
subcontractor, and the expected amount of money each will receive under the
contract. The contractor will be required to get approval from the Chief
Procurement Officer prior to adding or changing subcontractors. A
subcontractor, or contractor on behalf of a subcontractor, may identify
information that is deemed proprietary or confidential. If the Chief
Procurement Officer determines the information is not relevant to the primary
contract, the Chief Procurement Officer may excuse the inclusion of the
information. If the Chief Procurement Officer determines the information is
proprietary or could harm the business interest of the subcontractor, the Chief
Procurement Officer may, in his or her discretion, redact the information.
Redacted information shall not become part of the public record.
[30 ILCS
500/20-120(a)]
2) Subject to Appropriation. All leases must
recite that they are subject to termination and cancellation in any year for
which the General Assembly fails to make an appropriation to make payments
under the terms of the lease.
3)
Right to Audit Books and Records
A)
Maintenance of books and records. Every contract and subcontract shall
require the contractor or subcontractor, as applicable, to maintain books and
records relating to the performance of the contract or subcontract and
necessary to support amounts charged to the State under the contract or
subcontract. The books and records shall be maintained by the contractor or
subcontractor for a period of at least 3 years from the later
of the date of final payment under the contract or completion of the contract
or subcontract and thatperiod shall be extended for the duration of any audit
in progress at the time of that period's expiration. [30 ILCS
500/20-65(a)]
B)
Audit. Every contract and
subcontract shall provide that all books and records required to be maintained
under subsection (a) shall be available for review and audit by the Auditor
General and the Treasurer's office. Every contract and
subcontract shallrequire the contractor and subcontractor, as
applicable, to cooperate fully with any audit. [30 ILCS
500/20-65(b)]
b) Optional Provision
Any contract entered into by the Treasurer's
office under this Part may contain a clause requiring that if more
favorable terms are granted by the contractor to any similar governmental
agency in any state in a contemporaneous agreement let under the same or
similar financial terms and circumstances for comparable supplies or services,
the more favorable terms shall be applicable under the contract.
[30 ILCS
500/25-30]
