Download Zipped Amended WordPerfect HB0330.ZIP
[Introduced][Status][Bill Documents][Fiscal Note][Bills Directory]

H.B. 330

This document includes House Committee Amendments incorporated into the bill on Mon, Feb 25, 2013 at 2:19 PM by lerror. -->              1     

FINANCIAL REPORTING AMENDMENTS

             2     
2013 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Steve Eliason

             5     
Senate Sponsor: Curtis S. Bramble

             6     
             7      LONG TITLE
             8      General Description:
             9          This bill modifies provisions related to political subdivisions to require certification of
             10      certain financial reports.
             11      Highlighted Provisions:
             12          This bill:
             13          .    enacts Political Subdivision Financial Reporting Certification, including:
             14              .    defining terms;
             15              .    requiring a specific form of certification of annual financial reports by the chief
             16      administrative officer and chief financial officer; and
             17              .    providing for the designation of the chief administrative officer or chief
             18      financial officer.
             19      Money Appropriated in this Bill:
             20          None
             21      Other Special Clauses:
             22          None
             23      Utah Code Sections Affected:
             24      ENACTS:
             25          11-50-101, Utah Code Annotated 1953
             26          11-50-102, Utah Code Annotated 1953
             27          11-50-201, Utah Code Annotated 1953


             28          11-50-202, Utah Code Annotated 1953
             29     
             30      Be it enacted by the Legislature of the state of Utah:
             31          Section 1. Section 11-50-101 is enacted to read:
             32     
CHAPTER 50. POLITICAL SUBDIVISION FINANCIAL REPORTING

             33     
CERTIFICATION

             34     
Part 1. General Provisions

             35          11-50-101. Title.
             36          This chapter is known as "Political Subdivision Financial Reporting Certification."
             37          Section 2. Section 11-50-102 is enacted to read:
             38          11-50-102. Definitions.
             39          As used in this chapter:
             40          (1) "Annual financial report" means a comprehensive annual financial report or similar
             41      financial report required by Section 51-2a-201 .
             42          (2) "Chief administrative officer" means the chief administrative officer designated in
             43      accordance with Section 11-50-202 .
             44          (3) "Chief financial officer" means the chief financial officer designated in accordance
             45      with Section 11-50-202 .
             46          (4) "Governing body" means:
             47          (a) for a county, city, or town, the legislative body of the county, city, or town;
             48          (b) for a local district, the board of trustees of the local district;
             49          (c) for a school district, the local board of education; or
             50          (d) for a special service district under Title 17D, Chapter 1, Special Service District
             51      Act:
             52          (i) the governing body of the county or municipality that created the special service
             53      district, if no administrative control board has been established under Section 17D-1-301 ; or
             54          (ii) the administrative control board, if one has been established under Section
             55      17D-1-301 .
             56          (5) H. (a) .H "Political subdivision" means any county, city, town, school district,
             56a      community
             57      development and renewal agency, special improvement or taxing district, local district, special
             58      service district, an entity created by an interlocal agreement adopted under Title 11, Chapter 13,


             59      Interlocal Cooperation Act, or other governmental subdivision or public corporation.
             59a           H. (b) Notwithstanding Subsection (5)(a), "political subdivision" does not mean a
             59b      project entity, as defined in Section 11-13-103. .H
             60          Section 3. Section 11-50-201 is enacted to read:
             61     
Part 2. Certification Required

             62          11-50-201. Certification by chief administrative officer and chief financial officer
             63      required.
             64          For an annual financial report of a political subdivision to be considered complete on
             65      and after July 1, 2013, the following certifications shall be included with the annual financial
             66      report:
             67          (1) Under penalty of perjury, I, [officer's name] certify that the [annual financial report]
             68      of [political subdivision] for the year ended [date] fairly presents in all material respects the
             69      financial condition and results of operations of [political subdivision].
             70          [signature], Chief Administrative Officer.
             71          (2) Under penalty of perjury, I, [officer's name] certify that the [annual financial report]
             72      of [political subdivision] for the year ended [date] fairly presents in all material respects the
             73      financial condition and results of operations of [political subdivision].
             74          [signature], Chief Financial Officer.
             75          Section 4. Section 11-50-202 is enacted to read:
             76          11-50-202. Designating chief administrative officer -- Designating chief financial
             77      officer.
             78          (1) (a) The chief administrative officer of a political subdivision is:
             79          (i) the individual appointed as the chief administrative officer of the political
             80      subdivision in accordance with statute; or
             81          (ii) if a chief administrative officer is not appointed in accordance with statute, the
             82      individual designated as the chief administrative officer by the governing body of the political
             83      subdivision.
             84          (b) In designating a chief administrative officer under this Subsection (1), the
             85      governing body shall designate the individual who holds a managerial or similar position to
             86      perform administrative duties or functions for the political subdivision.
             87          (2) (a) The chief financial officer of a political subdivision is:
             88          (i) the individual appointed as the chief financial officer of the political subdivision in
             89      accordance with statute; or


             90          (ii) if a chief financial officer is not appointed in accordance with statute, the individual
             91      designated as the chief financial officer by the governing body of the political subdivision.
             92          (b) In designating a chief financial officer under this Subsection (2), the governing
             93      body shall designate the individual who has primary responsibility for preparing the annual
             94      financial report.




Legislative Review Note
    as of 2-15-13 11:08 AM


Office of Legislative Research and General Counsel


[Bill Documents][Bills Directory]