Municipal Code of Chicago § 2-32-100 Fiscal and municipal year.
2-32-100 Fiscal and municipal year.
The fiscal year and the municipal year of the city shall commence on the first day of January in each year.
(Prior code § 7-12)
FINANCIAL ACCOUNTS AND REPORTS (2-32-100 et seq.)
Municipal Code of Chicago tit. 2, ch. 2-32, art. II
in effectMunicipal Code of Chicago § 2-32-105 Fund appropriation ordinances - Effective date.
2-32-105 Fund appropriation ordinances - Effective date.
Notwithstanding any contrary provision of state law or prior ordinance, an ordinance appropriating funds for use by the city or any of its agencies shall take effect upon its passage and approval by the mayor. Approval by the mayor may be in any manner authorized in Article 3 of the Illinois Municipal Code, as amended.
(Added Coun. J. 12-9-92, p. 24273)
Municipal Code of Chicago § 2-32-110 Accounting system - Auditing and reports.
2-32-110 Accounting system - Auditing and reports.
The books of account and all other public records and documents of the city relating to the finances shall conform to the classification of standard accounts established by the comptroller in an official manual of accounting which shall be published and kept always on file in the office of the comptroller. Appropriations made under any of the general classifications set forth in said official manual of accounting shall be deemed to be for the items in detail as set forth in said manual. The comptroller shall have power to establish subsidiary and supporting groups of standard accounts as he may deem expedient.
All departments, bureaus, boards, officers and persons connected with the city government shall adopt and put into effect the system of accounting and auditing provided for, and are hereby required to make their reports and accounts conform to the classification herein provided for or as the same may hereafter be changed by the comptroller in conformity with the power conferred on him, and are also required to use the books and forms prescribed by the comptroller.
(Prior code § 7-13)
Municipal Code of Chicago § 2-32-120 Reimbursements to the corporate fund.
2-32-120 Reimbursements to the corporate fund.
The budget director and the city comptroller shall determine, according to generally acceptable accounting practices, those expenses paid out of the corporate fund for services or expenses that are chargeable to other funds described in the annual appropriation ordinance. The corporate fund shall be reimbursed for such expenses from amounts appropriated for that purpose. In no event shall reimbursements from a fund exceed the appropriations made from that fund for that purpose.
(Added Coun. J. 12-11-91, p. 10832)
Municipal Code of Chicago § 2-32-130 Reporting on bond transactions.
2-32-130 Reporting on bond transactions.
The chief financial officer or the comptroller shall report in writing to the committee on finance, by the first business day of each January, April, July and October, regarding bonds (as defined herein) as follows: (i) for bonds issued during the immediately preceding quarter, the report shall describe the principal amounts, interest rates, maturities, redemption terms and prices for such bonds and any other determinations made by the chief financial officer or the comptroller pursuant to authority granted by the ordinance authorizing such bonds; and (ii) for bonds for which an authorizing ordinance has been adopted by the city council but which have not yet been issued, the report shall describe the plans, if any, to issue such bonds during the next quarter. As used in this section, the term "bonds" shall mean (i) the following types of bonds issued or to be issued by the City: general obligation bonds, tax increment revenue bonds, special assessment revenue bonds, airport revenue bonds, sales tax revenue bonds, motor fuel tax revenue bonds, water revenue bonds and wastewater transmission revenue bonds and (ii) any obligations issued or to be issued by a corporation, trust, or other entity established by the City pursuant to an ordinance adopted by the City Council on October 11, 2017 and in accordance with Division 13 of Article 8 of the Illinois Municipal Code, codified at 65 ILCS 5/8-13-5, et seq., for the limited purpose of issuing obligations for the benefit of the City.
(Added Coun. J. 1-13-16, p. 16268, § 22; Amend Coun. J. 10-5-16, p. 32565, § 22; Amend Coun. J. 10-11-17, p. 55903, § 7)
Editor's note – Coun. J. 12-4-02, p. 99026, § 1.3, repealed former § 2-32-130, which pertained to appropriations for bureau of sewers.
Municipal Code of Chicago § 2-32-140 Treasurer's cash fund.
2-32-140 Treasurer's cash fund.
There is hereby created a fund to be known as the treasurer's cash fund for the purpose of enabling the treasurer to pay in cash such warrants as may be presented to him for payment in cash. The mayor and comptroller are hereby authorized to draw warrants, from time to time, for such amounts as may, in the judgment of the comptroller and treasurer, be sufficient to meet the daily demand for that purpose. Such warrants shall be made payable to the treasurer, who is authorized to withdraw the amount therein stated from any active bank or banks and place such money to the credit of the treasurer's cash fund, and it shall be charged to such treasurer's cash fund which shall in turn be credited with the amounts of warrants paid in cash from said fund.
(Prior code § 7-15)
Municipal Code of Chicago § 2-32-150 Equalization and transfer fund.
2-32-150 Equalization and transfer fund.
There is hereby created a fund to be known as the equalization and transfer fund. For the purpose of facilitating the equalization or apportionment of the amounts of the balances on deposit with the several depositaries and the speedy transfer of money from one depositary to another in case of necessity, the mayor and comptroller are hereby authorized to draw warrants, from time to time, for such amounts as may in their judgment be necessary or advisable for the proper apportionment of the city deposits among its depositaries or for the protection of the city's interests. Such warrants shall be made payable to the city treasurer, and shall be chargeable to such equalization and transfer fund, which shall in turn be credited with the respective amounts thereof deposited with one or more of the other depositaries, as the case may be.
(Prior code § 7-16)
Municipal Code of Chicago § 2-32-160 Comptroller - Records required.
2-32-160 Comptroller - Records required.
The comptroller shall keep, in a clear, methodical manner, a complete set of books, wherein shall be stated, among other things, the appropriations of the year for each distinct object and branch of expenditure, and also the receipts from each and every source of revenue, so far as he can ascertain the same.
(Prior code § 7-17)
Municipal Code of Chicago § 2-32-170 Forms and records for city departments.
2-32-170 Forms and records for city departments.
The forms, ledgers, warrants, vouchers, books of account, and all other papers and records used in the various departments and boards of the city government in the transaction of all public business, when not otherwise prescribed by law, shall be such as the comptroller may from time to time prescribe.
(Prior code § 7-18)
Municipal Code of Chicago § 2-32-180 Reserved. Editor’s note – Coun. J. 12-16-24, p. 22879, Art. VI, § 4, repealed § 2-32-180, which pertained to Comptroller – annual estimates of expenses.
Municipal Code of Chicago § 2-32-190 Comptroller - Quarterly audits and statements.
2-32-190 Comptroller - Quarterly audits and statements.
The comptroller shall revise and audit all accounts in which the city is concerned, either as debtor or creditor. He shall make quarterly each year, during the months of January, April, July and October, an audit of the accounts and records of the city treasury, verifying the city's cash and securities in the hands of the city treasurer. He shall also submit to the city council on or before the first day of each of the months of February, May, August and November a statement of the cash income and disbursements of the corporate purposes fund and also a statement of the funded debt of the city and the floating debt of the corporate purposes fund for the quarterly periods ending December 31st, March 31st, June 30th and September 30th respectively. The statement of income and disbursements shall show separately the cash on hand at the beginning of the quarter, the amounts received from taxes, from miscellaneous revenue and from the proceeds of the sale of tax warrants, and the amounts disbursed for salaries and for other expenses.
(Prior code § 7-20)
Municipal Code of Chicago § 2-32-200 Comptroller - Non-payroll payment reports.
2-32-200 Comptroller - Non-payroll payment reports.
The comptroller shall make a monthly report to the city council of all payments on voucher, or otherwise than on payroll, to any person for personal services rendered to the city. Such report shall include the name and residence of the person to whom payment was made, shall indicate the service rendered, and shall state the amount paid and the account charged. The report shall be published in such manner as the city council may direct.
(Prior code § 7-20.1)
Municipal Code of Chicago § 2-32-205 Internal compliance.
2-32-205 Internal compliance.
(a) The comptroller is authorized:
(1) to conduct and direct audits of the city's systems of internal controls regarding finance, accounting, compliance and ethics:
(2) to monitor and perform risk assessments of city departments, employees, contractors and agents, and to require the assistance of city departments in the development of compliance plans and measures to address high-risk activities;
(3) to review the performance of governmental officers, employees, functions and programs in order to detect and prevent noncompliance within the programs and operations of the city government;
(4) to recommend appropriate corrective action, including the development of compliance plans and the development of compliance-related education and training, designed to mitigate any identified risk areas;
(5) to assess and provide advice regarding compliance controls incorporated in city departments' policies and procedures; and
(6) to enter into agreements or contracts for the purpose of engaging the assistance of outside auditors, consultants or other services necessary to carry out the functions provided for in this section. Such agreements and contracts shall be subject to approval by the corporation counsel as to form and legality and subject to the approval of the budget director as to funding.
(Added Coun. J. 11-16-11, p. 13793, § 5; Amend Coun. J. 11-16-11, p. 13798, Art. I, § 2)
Municipal Code of Chicago § 2-32-210 Comptroller - Annual statement requirements.
2-32-210 Comptroller - Annual statement requirements.
Each year, no later than October 1st, the comptroller shall prepare, and publish on the City of Chicago department of finance website, an annual statement giving a full and detailed statement of all receipts and expenditures during the preceding fiscal year. Such statement shall also detail the liabilities and resources of the city, and all other things necessary to exhibit its true financial condition. The comptroller shall submit such annual statement to the city council, through the committee on finance, in a convenient form, accompanied by the certification of a public accountant, who shall not be connected with the city government, and who has been appointed by the finance committee.
Such accountant shall certify that the statements contained in the comptroller's report are true reflections of the books of his office, which books have been correctly kept in accordance with the daily department reports and other returns of the city's transactions after audit and verification by the various divisions within his office.
By virtue of its finance committee appointment, such accountant shall also be authorized to perform other audits associated with the annual statement if, in the judgment of the comptroller: (1) the funds at issue in such other audits form an integral and significant part of the annual statement, and (2) such combined auditing function will avoid a substantial duplication of effort.
(Prior code § 7-21; Amend Coun. J. 6-11-08, p. 28823, § 1; Amend Coun. J. 10-28-15, p. 11951, Art. X, § 2)
Municipal Code of Chicago § 2-32-220 Comptroller - Verification of claims and accounts.
2-32-220 Comptroller - Verification of claims and accounts.
The comptroller shall have power, for the purpose of ascertaining the true state of any balance or balances, to require any claimant or claimants to deposit and file with him a statement in writing, under oath, as to any fact, matter or thing concerning the correctness of any account, claim or demand presented.
(Prior code § 7-22)
Municipal Code of Chicago § 2-32-230 Financial reports by officials - Enforcement of compliance.
2-32-230 Financial reports by officials - Enforcement of compliance.
The comptroller may request all departments, bureaus, boards, or persons connected with the city government to make such financial reports as he may consider necessary.
It shall be the duty of the comptroller, whenever any officer shall refuse or neglect to make such statement, or to adjust his accounts whenever required so to do by the city council or the comptroller, or to pay over to the proper officer any monies in his possession belonging to the city, to cause a notice in writing to be served upon such officer and his sureties, demanding a settlement of his accounts forthwith. In case of refusal or neglect of such officer for a period of five days after the service of said notice to make a settlement and pay over all monies, the comptroller shall report such officer to the mayor, who shall immediately remove him or cause him to be removed from office. Proceedings for the recovery of any monies due the city shall be at once instituted against such officer and his sureties.
(Prior code § 7-23)
Municipal Code of Chicago § 2-32-240 Fines imposed through humane societies and other groups.
2-32-240 Fines imposed through humane societies and other groups.
All fines paid in money which are imposed through the agency of any humane society (or society for the prevention of cruelty to animals and children) under the provisions of this Code, shall, when collected, be transferred by the comptroller to the credit of such societies to be applied to their support, and all fines imposed through the agency of any special policeman appointed on the application of such society shall be regarded as imposed through the agency of such society; provided, however, that such society shall be incorporated under and by virtue of the laws of the state.
(Prior code § 7-24)
Source: City of Chicago, Municipal Code of Chicago (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/chicago/latest/chicago_il/0-0-0-2597800Fetched: 10/24/2026