CT SB00501

Authorizes the Auditors of Public Accounts to review the budget and financial condition of municipalities with a population of 30,000 or more that receive state grants-in-aid exceeding 35% of the municipality's operating budget in the preceding fiscal year.

Requires auditors to prepare a report that includes recommendations for programmatic savings, efficiencies, financial improvements, and reforms in reviewed municipalities.

Mandates submission of audit reports to the Governor and to joint standing committees of the General Assembly with cognizance over planning and development, appropriations and state agency budgets, and finance, revenue and bonding.

Stated purpose is to provide transparency in government and assess the effectiveness of state funding to municipalities for certain programs and services.