House Bill 90 Summary

• Entities with annual expenditures exceeding $250,000 must undergo a full and complete annual financial audit performed by independent auditors following generally accepted governmental auditing standards.

• Entities with annual expenditures between $100,000 and $250,000 may choose between annual audits or biennial audits, with the first year exceeding $100,000 marking the start of a biennial period.

• Entities with annual expenditures of $100,000 or less have no minimum audit requirements under this section.

• Completed audit reports must be filed with the legislative services office within nine (9) months after the end of the audit period.

• Audit requirements for 21 designated agricultural and commodity commissions (such as Idaho Potato Commission and Idaho Dairy Products Commission) follow the same expenditure-based thresholds, with audits completed within 90 days of fiscal year close.