MS SB2689

Removes the fixed rate of $35.00 per man-hour for audit charges and replaces it with "actual cost" for services performed by State Department of Audit staff.

Maintains that audited entities must pay the actual cost of independent specialist firms contracted by the State Auditor to assist in audits.

Clarifies that failure to pay audit charges within 30 days will result in the State Fiscal Officer notifying the State Treasurer to withhold warrants to the defaulting unit until charges are paid.

Establishes that the State Auditor may bill oversight agencies up to $100,000 per fiscal year for audits of state-funded economic development programs.

Takes effect July 1, 2016.