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S.B. 179 Enrolled

             1     

LOCAL GOVERNMENT FINANCIAL REPORTING

             2     
REVISIONS

             3     
2013 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Curtis S. Bramble

             6     
House Sponsor: Steve Eliason

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill modifies provisions relating to local government financial reports.
             11      Highlighted Provisions:
             12          This bill:
             13          .    modifies the monetary threshold for a requirement for a local government to cause
             14      an audit to be made; and
             15          .    modifies reporting requirements applicable to local governments whose revenues
             16      and expenditures are below the threshold.
             17      Money Appropriated in this Bill:
             18          None
             19      Other Special Clauses:
             20          None
             21      Utah Code Sections Affected:
             22      AMENDS:
             23          51-2a-201, as enacted by Laws of Utah 2004, Chapter 206
             24     
             25      Be it enacted by the Legislature of the state of Utah:
             26          Section 1. Section 51-2a-201 is amended to read:
             27           51-2a-201. Accounting reports required.
             28          (1) The governing board of an entity whose revenues or expenditures of all funds is
             29      [$350,000] $500,000 or more shall cause an audit to be made of its accounts by a competent


             30      certified public accountant.
             31          (2) [Unless otherwise required by the state auditor under Section 51-2a-301 , the] The
             32      governing board of an entity whose revenues or expenditures of all funds is [at least $200,000
             33      but] less than [$350,000] $500,000 shall cause [a review to be made of its accounts by a
             34      certified public accountant] a financial report to be made in the manner prescribed by the state
             35      auditor.
             36          [(3) Unless otherwise required by the state auditor under Section 51-2a-301 , the
             37      governing board of an entity whose revenues or expenditures of all funds is at least $100,000
             38      but less than $200,000 shall cause a compilation to be made of its accounts by a certified public
             39      accountant.]
             40          [(4) Unless otherwise required by the state auditor under Section 51-2a-301 , the
             41      governing board of an entity whose revenues and expenditures of all funds is less than
             42      $100,000 shall cause a fiscal report to be made on forms provided by the state auditor.]


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