Loading chat...
MI HB4235
Bill
Status
2/12/2013
Primary Sponsor
Joel Johnson
Click for details
AI Summary
-
Local units with population less than 4,000 must obtain financial audits at least biennially (every two years).
-
Local units with population of 4,000 or more must obtain annual financial audits, subject to an exception for certain authorities.
-
Local authorities with annual budgets less than $50,000 may obtain audits biennially instead of annually.
-
If any audit reveals material deviations from accounting standards, regulatory violations, or fiscal irregularities such as defalcation or malfeasance, the Department of Treasury may require an audit in the following year.
Legislative Description
Local government; audits; audit requirements for local government authorities; allow 2-year audit under certain conditions. Amends sec. 5 of 1968 PA 2 (MCL 141.425).
Local government, audits
Last Action
Printed Bill Filed 02/13/2013
2/13/2013