CS/CS/CS/HB 479 Summary

• Audit and Compliance Authority: Grants the Governor, Commissioner of Education, and Auditor General expanded authority to notify the Legislative Auditing Committee when entities fail to comply with audit and financial reporting requirements; adds tourist development councils and county tourism promotion agencies to entities subject to Auditor General audits.

• Internal Controls Requirements: Mandates that state agencies, local governmental entities, school districts, charter schools, and judicial branch entities establish and maintain internal controls to prevent and detect fraud, waste, and abuse, promote legal compliance, and ensure reliable financial records.

• Auditor Selection and Oversight: Establishes new procedures for selecting auditors, requires affidavits from governing body chairs certifying proper auditor selection, prohibits audit committee members from being employees or chief financial officers, and mandates auditors include specific information in management letters.

• Financial Transparency Requirements: Requires counties, municipalities, and water management districts to post budget documents on official websites for specified periods; institutes travel management system reporting for state agencies and judicial branch.

• Effective Date: Act takes effect July 1, 2017, and declares that establishing internal controls to prevent fraud, waste, and abuse serves an important state interest.