CS/HB 107 - Local Government Accountability Summary

• Requires county, municipal, and special district budgets to show revenues and expenditures by organizational unit at the level of detail required for annual financial reports; mandates tentative and final budgets be posted on official websites before public hearings and within specified timeframes after adoption.

• Shortens audit completion timeframe from 12 months to 9 months after fiscal year end; requires auditors to prepare audit reports filed with the Auditor General within 45 days of delivery, with the Auditor General notifying the Legislative Auditing Committee of entities failing to take corrective action.

• Adds failure to maintain a registered office and agent for one or more years as a criterion for declaring a special district inactive; clarifies procedures for the Department of Community Affairs to declare districts inactive and authorizes the department to seek writs of certiorari for noncompliance.

• Establishes a 60-day deadline for special districts to file required financial reports under a new assistance process; allows special districts unable to meet deadlines to provide written notice to the Department of Community Affairs, which forwards notices to relevant oversight bodies.

• Updates accounting terminology for school districts and modifies fund balance guidelines to reference restricted, committed, and nonspendable classifications rather than "unreserved" fund balances.