Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 1000 - INTERNAL SERVICE FUNDS
Section 1000.30 - Credits Issued For Prior Fiscal Year Overpayments

Universal Citation: 74 IL Admin Code ยง 1000.30

Current through Register Vol. 48, No. 12, March 22, 2024

a) The Department shall issue credits for application in the subsequent fiscal year for those user agency accounts which show an accounts receivable credit balance for the prior fiscal year. Credits for prior fiscal year accounts receivable credit balances will be issued when the Internal Service Fund is reasonably certain that:

1) All prior fiscal year billing activity has been posted;

2) All agency payments related to prior year billing activity have been posted; and

3) No activity remains in process related to prior fiscal year accounts receivable.

b) Credits for accounts receivable credit balances for prior fiscal year overpayments will be issued to user agencies after November 1st in the subsequent fiscal year.

c) The Department shall not use the advance billing process in Section 1000.20 with this credit process to intentionally circumvent fiscal year budgetary controls.

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