Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 1000 - INTERNAL SERVICE FUNDS
Section 1000.40 - Catch-Up Billings For Prior Fiscal Year Amounts Due

Universal Citation: 74 IL Admin Code ยง 1000.40

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

a) The Department shall issue catch-up billings in the subsequent fiscal year for those user agency accounts which show an accounts receivable debit balance for the prior fiscal year. Catch-up billings for prior fiscal year account balances due 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) When the Department did not have adequate information to bill a user agency for goods and services received during the prior fiscal year, the Department shall issue catch-up billings in the subsequent fiscal year once adequate documentation is received.

c) The Department shall clearly identify catch-up billings in order to avoid confusion with regular billings.

d) The Department shall make reasonable efforts to issue catch-up billings to user agencies as soon as billing information is known. Catch-up billings will be sent to agencies on a monthly basis beginning in November of the subsequent fiscal year.

e) User agencies shall reimburse the Department for catch-up billings by vouchers drawn against their appropriations for the fiscal year in which the catch-up billing is issued by the Department.

f) The Department shall not use catch-up billings as a substitute for the lapse period billing process.

Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.