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.]

[Bill Documents]