Bill > SB2396

This bill requires the state auditor's office to conduct a comprehensive performance audit of the North Dakota Development Fund (NDDF) covering the period from July 1, 2019, to June 30, 2024. The bill modifies existing law by shifting the annual financial audit responsibility from the board of directors to the state auditor's office, who can either conduct the audit directly or contract with a certified public accounting firm. The performance audit, to be completed by an independent third party, will evaluate the NDDF's economy, efficiency, and effectiveness by examining internal processes, controls, and results, with the goal of identifying potential improvements and recommending corrective actions. The state auditor must receive the final audit report by August 1, 2026, and then present it to the legislative audit and fiscal review committee and legislative management before September 30, 2026. To support this audit, the bill appropriates $250,000 from the state's general fund as a one-time funding item for the 2025-2027 biennium, specifically to cover the costs of contracting the performance audit.

Budget and Finance, Business and Industry, Government Affairs

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo2396.html