What is The Public Ledger?

The Public Ledger is a newsletter published by John Kasperek Co., Inc., a CPA firm based in Calumet City and Mokena, Illinois. It covers statutory compliance deadlines, governmental accounting standards, federal tax law changes, and funding opportunities relevant to Illinois municipalities, school districts, and townships.

When is the Illinois municipal appropriation ordinance deadline?

For Illinois municipalities with a fiscal year ending April 30, the annual appropriation ordinance must be passed within the first quarter of the fiscal year, by July 31. Per 65 ILCS 5/8-2-9, municipalities with a population between 2,000 and 500,000 must also publish the proposed ordinance for public inspection at least 10 days before adoption and hold at least one public hearing.

When is the Illinois municipal audit deadline?

Illinois municipalities with a population of 800 or more, bonded debt, or a public utility must complete an annual audit within 180 days of fiscal year close. For municipalities with a fiscal year ending April 30, the audit report is due by approximately October 27. Per 65 ILCS 5/8-8-3, two signed copies must be filed (one for public inspection and one with the Illinois Office of the Comptroller).

When is the Illinois unclaimed property report due for municipalities?

Illinois local governments must report and remit intangible unclaimed property to the State Treasurer's Unclaimed Property Division before November 1 each year, per 765 ILCS 1026/15-403(a). Before reporting, municipalities must send a due diligence communication for any property or item worth $50 or more, not more than one year before and no later than 60 days before the property is reported and remitted.

What CPA services does John Kasperek Co. provide to Illinois municipalities?

John Kasperek Co., Inc. provides governmental auditing, annual financial report preparation, TIF district reporting, pension and OPEB accounting, and tax compliance services for Illinois municipalities, school districts, townships, and nonprofits. The firm has served Illinois public sector organizations since 1989 and operates offices in Calumet City and Mokena, IL.

The Public Ledger Archives - John Kasperek Co., Inc.

Welcome to The Public Ledger Archives. Since 1989, John Kasperek Co., Inc. has served Illinois municipalities, school districts, townships, and nonprofits with expert accounting and audit services, and The Public Ledger brings that expertise to you through practical guides on tax legislation, municipal compliance, and governmental accounting standards. The content of this newsletter comes directly from our CPAs who understand the unique challenges facing public sector organizations.

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Compliance Calendar: October–December 2026

Key October, November, and December statutory deadlines for Illinois municipalities on an April 30 fiscal year, sourced from the IML 2026 Calendar of Statutory Duties. Confirm specific obligations with your municipal attorney.

October 2026

4 deadlines▼

On or before October 1 – Home Rule and Non-Home Rule Municipal Retailers'/Service Occupation Tax, Use Tax, Grocery Sales Tax, and Cannabis Retailers' Occupation Tax ordinances certified to IDOR by this date are administered and enforced by IDOR commencing January 1. 65 ILCS 5/8-11-1, 5/8-11-5, 5/8-11-6, 5/8-11-1.1, 5/8-11-23(f)

By approximately October 27 – Annual audit report due within 180 days of fiscal year close for municipalities with a population of 800 or more, bonded debt, or a public utility. Two signed copies filed: one available for public inspection, one with the Comptroller. 65 ILCS 5/8-8-3(b); 5/8-8-7

By the end of October – For municipalities with a fiscal year ending April 30, the treasurer's report for the preceding year must be filed with the clerk, then published by the clerk. 65 ILCS 5/3.1-35-65

Before November 1 – Intangible unclaimed property must be reported and remitted to the State Treasurer's Unclaimed Property Division. Due diligence notice is required for any property worth $50 or more, sent not more than one year before and no later than 60 days before the property is reported. 765 ILCS 1026/15-403(a); 1026/15-501

November 2026

2 deadlines▼

Not less than 20 days before the levy – Under the Truth in Taxation Law, a taxing body must determine its estimated aggregate property tax levy. If the amount is more than 105% of the prior year's extensions, published notice and a public hearing are required before the levy is adopted. 35 ILCS 200/18-60; 200/18-70

7 to 14 days after notice – The Truth in Taxation public hearing must be held between 7 and 14 days after the notice is published in the newspaper. The notice may not be in the legal notices or classified section. 35 ILCS 200/18-70

December 2026

3 deadlines▼

On or before December 29 – The tax levy ordinance must be passed and a certified copy filed with the county clerk on or before the last Tuesday in December, which is December 29 this year. A valid, timely budget or appropriation ordinance must be passed before the levy ordinance is adopted. 65 ILCS 5/8-3-1

By December 31 – Each civil service commission must file an annual status report on its investigations of allegations of unreasonable force against police officers, including the number of allegations, the number of officers charged, and allegations for which a decision was made not to file charges. 65 ILCS 5/10-1-18(d)

Before the new calendar year – At the beginning of each calendar or fiscal year, municipalities must prepare and post a schedule of all regular meetings for the coming year, with the time and place of each, and give it to any news media requesting it. 5 ILCS 120/2.02

Triggered by Fiscal Year Close

4 deadlines▼

Annual audit – Required for municipalities with a population of 800 or more, bonded debt, or a public utility. Report due within 180 days (by approximately October 27 for April 30 fiscal year-ends). 65 ILCS 5/8-8-3(b); 5/8-8-7

Within 60 days of audit close – The auditor must provide any management letter and audited financial statements to each member of the corporate authorities, the information must be posted to the municipal website, and the audit results must be presented at a public meeting. 65 ILCS 5/8-8-10.5

New for SFY 2027 – Municipalities under 1,000 residents with no public utility and no bonded debt file only an annual financial report. Under-1,000 municipalities with a utility or bonded debt file both an annual financial report and an audit report once every fourth fiscal year. These requirements take effect in MFY 2027 or CY 2026. 65 ILCS 5/8-8-3(i)–(k)

Within 180 days of FY close – TIF Report must be filed electronically with the Comptroller, separately from any other annual report. 65 ILCS 5/8-8-3.5

Source: IML 2026 Calendar of Statutory Duties. Full deadline guides: October and November Statutory Deadlines and September and October Statutory Deadlines.

Calendar Updates

Deadline Guides & Compliance Briefs

6 items ▼

Statutory deadline guides and subscriber compliance briefs. Each covers an upcoming compliance window with statute citations and key action items.

October and November Statutory Deadlines for Illinois Municipalities

NewFiscal Year-End SeriesIML 2026

The statutory deadlines Illinois municipal officials face in October and November 2026, from the October 27 audit and TIF report deadlines and the treasurer's annual account filings through unclaimed property reporting and the pension reports and Truth in Taxation steps that lead up to the December 29 levy deadline.

Annual audit and TIF report due October 27 • Treasurer's report and county collector filing by end of October • Unclaimed property before November 1 • Truth in Taxation estimate 20 days before the levy • Levy ordinance by December 29 • Verified ILGA statute links

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