Bill > HB1311

This bill directs the Legislative Auditor to develop a comprehensive financial management system called the "uniform chart of accounts" specifically for cities of the second class and incorporated towns in Arkansas. The purpose of this system is to provide detailed and consistent financial information to mayors, councils, and other municipal officers. The system will create a standardized way of tracking and categorizing revenues, expenditures, and fund balances, with two main objectives: first, to ensure current financial information is always available about the municipality's financial condition across all offices and departments, and second, to classify fund receipts and expenditures in a way that allows for detailed operational analysis and budget comparisons. The bill requires the Legislative Auditor to complete the development and implementation process within 36 months of the act's effective date, establishing a uniform account coding structure that will help municipal leaders better understand and manage their financial resources.

Government Affairs

https://arkleg.state.ar.us/Bills/Detail?id=hb1311&ddBienniumSession=2025%2F2025R