Bill Text: MI HB4044 | 2015-2016 | 98th Legislature | Introduced
Bill Title: Local government; audits; audit requirements for local government authorities; allow 2-year audit under certain conditions. Amends sec. 5 of 1968 PA 2 (MCL 141.425).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-01-22 - Printed Bill Filed 01/22/2015 [HB4044 Detail]
Download: Michigan-2015-HB4044-Introduced.html
HOUSE BILL No. 4044
January 21, 2015, Introduced by Rep. Johnson and referred to the Committee on Local Government.
A bill to amend 1968 PA 2, entitled
"Uniform budgeting and accounting act,"
by amending section 5 (MCL 141.425), as amended by 1996 PA 146.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 5. (1) A local unit having a population of less than
4,000 shall obtain an audit of its financial records, accounts, and
procedures not less frequently than biennially. However, if any
audit under this subsection discloses a material deviation by the
local unit from generally accepted accounting practices or from
applicable rules and regulations of a state department or agency or
discloses any fiscal irregularity, defalcation, misfeasance,
nonfeasance, or malfeasance, the department of treasury may require
an audit to be conducted in the next year.
(2)
A Subject to subsection
(3), a local unit having a
population of 4,000 or more shall obtain an annual audit of its
financial records, accounts, and procedures.
(3) A local unit that is an authority with an annual budget of
less than $50,000.00 shall obtain an audit of its financial
records, accounts, and procedures not less frequently than
biennially. However, if any audit under this subsection discloses a
material deviation by a local unit described in this subsection
from generally accepted accounting practices or from applicable
rules and regulations of a state department or agency or discloses
any fiscal irregularity, defalcation, misfeasance, nonfeasance, or
malfeasance, the department of treasury may require an audit to be
conducted in the next year.
