MS HB1539

Requires all municipalities that own utility systems to have their books audited annually before the close of the next fiscal year by either a competent accountant approved by the State Auditor or a certified public accountant who has paid privilege tax in Mississippi.

Mandates municipalities pay for audits from their General Fund and conduct audits using uniform formulas established by the State Auditor without requiring competitive bidding.

Requires municipalities to mail two copies of the completed audit to the State Auditor within thirty days of completion.

Requires a synopsis of the audit to be published within thirty days in a local newspaper or, if none exists in the municipality, in a newspaper with general circulation in the county, at one-half the standard legal publication rate.

Effective date: July 1, 2013.