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OH SB67
Bill
Status
9/4/2013
Primary Sponsor
Ron Amstutz
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AI Summary
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Creates agreed-upon procedure audit option for eligible political subdivisions with annual budgeted expenditures not exceeding $5 million that meet specified criteria, allowing two consecutive agreed-upon procedure audits followed by a standard audit.
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Eliminates the Auditor of State's exemption from filing rule summary and fiscal analysis with proposed rules, requiring the Auditor of State to comply with the same rulemaking requirements as other state agencies.
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Excludes from public moneys subject to audit revenue earned from assets sold, leased, licensed, franchised, or transferred by a public office to a person under an agreement where the public office received consideration.
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Specifies JobsOhio revenues from enterprise acquisition projects are not public moneys subject to audit by the Auditor of State, but includes taxes collected on spirituous liquor sales and amounts due to the state general revenue fund.
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Requires JobsOhio to hire independent certified public accountants to perform annual financial audits and supplemental compliance and control reviews, with audit reports provided to the governor, Auditor of State, and legislative leaders.
Legislative Description
To create an agreed-upon procedure audit for certain eligible political subdivisions, to eliminate the Auditor of State's exemption from filing a rule summary and fiscal analysis with proposed rules, to exclude from public moneys subject to audit by the Auditor of State any revenue earned by or from a person's ownership, operation, or use of a tangible or intangible asset that was sold, was leased, was licensed, was the granting of a franchise, or was transferred or conveyed by a public office to the person pursuant to an agreement under which the public office received consideration, to specify which JobsOhio revenues are not public moneys subject to audit by the Auditor of State, to clarify by whom JobsOhio is to be audited and which audit records are public records, and to provide for annual compliance and control reviews of JobsOhio.
Political subdivisions-agreed-upon audit procedure/Auditor-rule-making
Last Action
Effective Date
9/4/2013