SB 677 Summary

• Establishes a Performance Audit Division within the State Auditor and Inspector's office, subject to the Auditor's discretion to appoint an Assistant State Auditor to direct operations.

• Authorizes the State Auditor and Inspector to conduct discretionary examinations of governmental entities upon request from the Governor, agency officials, or legislative resolution, or at the Auditor's discretion when conducting regular audits.

• Requires examined entities to pay actual examination costs (or provide funding) and mandates electronic copies of examination reports be provided to legislative leadership and minority leaders.

• Expands the State Auditor and Inspector Revolving Fund to include deposits from continuing professional education fees, examination cost recoveries, and all other monies received by the office.

• Modifies the revolving fund cap from an unspecified amount to $850,000, with excess funds returned to the General Revenue Fund at fiscal year-end.