Senate Bill 2024 Summary

• Allows county boards of supervisors to determine the notice interval for financial institution depository bids, with a minimum frequency of every four years (previously required every two years or annually).

• Clarifies that depository selection must consider all material factors including net earnings, account costs, transfer costs, and banking services provided, not just the lowest bid.

• Prohibits the use of reverse auctions for term contracts and for design/construction of public facilities including buildings, roads, and bridges.

• Requires county clerks to enter year-end adjusting accounting entries recommended by external auditors into the county's accounting system, with the board of supervisors required to document in meeting minutes any reasons entries were declined.

• Effective date: July 1, 2021.