KY SB133

Raises the financial threshold for special purpose governmental entities requiring only attestation engagements (instead of full audits) from $100,000 to $500,000, and the threshold for requiring audits every four years from $100,000-$500,000 to $500,000-$1,000,000

Allows entities with annual receipts/expenditures of $1 million or more to reduce audit frequency if they complete two consecutive audits with unqualified opinions, reverting to annual audits if they receive a qualified opinion

Requires annual audits of county clerks and sheriffs to specifically include motor vehicle and motorboat registration fees, usage taxes, and ad valorem taxes, with copies sent to the Department of Revenue and Kentucky Transportation Cabinet

Assigns the Kentucky Transportation Cabinet responsibility for paying the cost of auditing county clerk motor vehicle and motorboat receipt collections

Changes the deadline for outgoing county officials to complete final settlement with fiscal court from March 15 to within 60 days of leaving office, and requires excess fees to be remitted to fiscal court for transfer to successors when vacancies occur mid-term