Bill > LB396

This bill modifies requirements for public power districts' budget preparation and audit filing processes. Currently, public power districts must prepare annual written budgets that detail revenue sources and expenditures from the prior two years, along with current year estimates. The bill removes a previous requirement that budgets be in a form approved by the Nebraska Power Review Board, while maintaining other transparency provisions such as making the proposed budget available for public inspection seven days before a board meeting and providing an opportunity for public testimony. Additionally, the bill eliminates the requirement to file audit documents with the Nebraska Power Review Board, instead maintaining the existing requirement to file audits with the Auditor of Public Accounts within 180 days after the district's fiscal year end. The audit must still be conducted by a certified public accountant and be kept on file at the district's principal place of business. These changes appear to streamline administrative processes for public power districts by reducing some reporting requirements while preserving public access to financial information.

Agriculture and Natural Resources

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59503