SB2004 Summary

• Appropriates $16,377,824 in total funds to the state auditor for the 2023-25 biennium, including increases for salaries, operating expenses, and 4 additional full-time equivalent positions.

• Increases state auditor salary from $112,241 to $130,000 through June 30, 2024, and to $135,200 thereafter.

• Creates new section 54-10-31 requiring the state banking board to provide for biennial audits of the department of financial institutions by a certified public accountant, with authority for the state auditor to conduct these audits.

• Amends state auditor powers and duties to exclude the department of financial institutions from standard agency audit requirements, as that entity will have separate audit provisions.

• Directs legislative management to study local government audit services and challenges faced by political subdivisions in obtaining audits, with findings to be reported to the 69th legislative assembly.