MS HB924

Public school districts prohibited from allowing athletic or academic teams to enter agreements with private or not-for-profit associations that govern extracurricular activities unless the association agrees to annual public audits

Audits must be performed by the State Auditor or a State Auditor-approved certified public accountant, with the association paying all audit costs including State Auditor review fees

Certified public accountants who have audited an association for three or more consecutive years are barred from performing subsequent audits, starting with fiscal year 2013

State Auditor granted authority to postaudit, preaudit, and investigate the financial affairs of private or not-for-profit associations that govern public school extracurricular athletic and academic activities

Provisions of the amended audit statute set to expire July 1, 2015, with the act taking effect July 1, 2013