Senate Bill 328 Summary

• Repeals Section 10.15(a) of S.L. 2013-360 regarding community college auditing provisions.

• Transfers the community college accountability function from the State Board of Community Colleges to the Office of State Auditor, shifting from annual program audits to periodic compliance reviews.

• Redefines compliance review scope to focus on accuracy of data used for state fund allocation and proper charging and waiving of tuition and registration fees rather than broad program auditing.

• Requires community colleges to contract with the State Auditor (rather than allowing certified public accountants) for financial audits at minimum once every two years, with state funds paying for these contracts.

• Effective July 1, 2015 for compliance reviews beginning in the 2015-2016 academic year; requires the State Board to adopt rules governing frequency, scope, and materiality standards for compliance reviews.