AZ SB1473

State agencies required to comply with federal single audit requirements must submit a schedule of expenditures of federal awards to the auditor general on time.

Agencies that submit the schedule late are assessed a penalty of one percent of their annual federal monies received for every thirty days of delay.

The auditor general must notify the state treasurer of the penalty amount when a late submission occurs.

The state treasurer shall withhold the penalty amount from the late agency's appropriation for the following fiscal year.