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MI HB5661
Bill
Status
6/11/2014
Primary Sponsor
Pam Faris
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AI Summary
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Amends Section 492 of the Management and Budget Act (1984 PA 431) to modify comprehensive annual financial reporting requirements for state agencies.
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Requires the comprehensive annual financial report for fiscal year 2014-2015 and each subsequent fiscal year to include an itemized accounting of all payments made to each local unit of government during that fiscal year.
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Maintains existing requirements that state agency financial statements be audited by the auditor general or independent auditors selected by the auditor general before submission to the Department of Technology, Management, and Budget.
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Preserves the 90-day submission deadline for audited financial statements following the close of the state's fiscal year.
Legislative Description
State financing and management; budget; disclosure of payments to local units of government; require. Amends sec. 492 of 1984 PA 431 (MCL 18.1492).
State financing and management, budget
Last Action
Printed Bill Filed 06/12/2014
6/12/2014