![]() ![]() Items to be auctioned include three graded Silver Eagle coins, a 14-karat rose gold woman's hand-designed ring, a 24-karat stamped yellow gold bangle bracelet, and an 18-karat white with black rhodium gold woman's cast halo ring containing a jelly opal.Īmong the other available items are uncut sheets of U.S. "We choose items that typically have not been touched in about 10 years and that would make an interesting gift." "We hold these auctions when we need additional space in our vault," said Illinois State Treasurer Michael Frerichs, whose office oversees unclaimed property in Illinois. (WLS) - Collectible coins, currency, fine silver and jewelry are among the more than 200 unclaimed property items to be auctioned online from May 1 through 5. That significant detail provides an important check and balance that protects taxpayer dollars from embezzlement (think Orville Hodge).īelow is a side-by-side comparison of duties for the Offices of the Comptroller and Treasurer.Collectible coins, currency, fine silver and jewelry are among the more than 200 unclaimed property items to be auctioned online from May 1 through 5. The most important difference between the Comptroller and the Treasurer is established by 15 ILCS 405/9: “No payment may be made from public funds held by the state treasurer in or outside of the state treasury, except by warrant drawn by the comptroller and presented by him to the treasurer to be countersigned.”Įssentially, while the Treasurer holds onto the State’s money, only the Comptroller can order payments to be made with that money. However, the role of these two State offices does differ in very significant ways. It’s true - at first glance - the two offices may sound similar: both the Comptroller and the Treasurer act as fiscal managers for the State, and both are responsible for State payouts. One question that frequently comes up while on the campaign trail is, “What is the difference between the Comptroller and Treasurer?”. WHAT IS THE DIFFERENCE BETWEEN THE COMPTROLLER AND TREASURER? Root out waste and fraud inside local governments.Hold local governments accountable in fulfilling their mandated fiscal responsibilities to taxpayers.Regulate cemeteries under the Cemetery Care Act and ensure that consumer dollars collected by cemeteries, crematories, and funeral homes are placed in trust so they are available when needed.Evaluate the amount of cash the State has on hand, on a daily basis, and determine which payments may be made and in what order they should be prioritized - i.e.In accordance with this duty, the Comptroller signs paychecks or grants approval to electronic payments made by the State to its employees and creditors such as social service providers, among many others - i.e. Order payments into and out of the funds held by the Treasurer of Illinois.Provide the annual financial report summarizing the revenues, expenditures, fund balance and debt of units of local government throughout the State.Provide monthly debt transparency reports to the General Assembly.Maintain the central fiscal accounts of the State.The following are the main public-facing duties of the Office: THE DUTIES OF THE OFFICE OF THE ILLINOIS COMPTROLLER The Office is responsible for managing the State’s financial accounts as well as providing the public and the State’s elected leadership with objective and timely data concerning the State’s difficult fiscal condition.” “The Comptroller is the Chief Fiscal and Accountability Officer for the State of Illinois. ![]() Just like how everyday people have to manage their own personal/household finances (paychecks are deposited and bills must be paid), the Illinois Comptroller is the state’s financial steward of your taxpayer dollars that are deposited into the state’s checking account.Īnd in accordance with the law, “the Illinois Comptroller shall maintain the State’s central fiscal accounts, and order payments into and out of the funds held by the Treasurer”. The Illinois Comptroller is the Chief Fiscal and Accountability Officer for the State of Illinois, responsible for the legal, efficient, and effective operations of the state’s finances – i.e. The duties of this independently elected four-year term officer (meaning that this officer does not report to another four-year term officer) can be found in Section 17 of Article V of the Illinois Constitution. By law, the Illinois Comptroller pays the State’s bills and monitors State funds. ![]()
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