Bill > HB244

This bill modifies Georgia law regarding annual audits for local governments, primarily by adjusting financial thresholds for audit requirements and introducing new provisions for extensions and accountability. Specifically, it raises the expenditure threshold for mandatory annual audits from $550,000 to $2.5 million, while allowing local governments with expenditures of $2.5 million or less to use a "special purpose framework" prescribed by the state auditor, which includes reporting templates and an effective date for implementation. For local governments with expenditures of $1 million or less, the bill allows for an annual report of agreed-upon procedures, which must include specific financial checks and compliance reviews, but this report can only be used for four consecutive years before a full audit is required. The bill also introduces a mechanism for local governments to request extensions for filing their annual audits from the state auditor, particularly when unusual circumstances or the failure of public officers and employees to cooperate with providing necessary documentation cause delays. In cases where a county officer's non-cooperation leads to a delayed audit, the county governing authority is empowered to temporarily withhold 50 percent of that officer's compensation until the audit is completed and filed. Furthermore, public officers and employees are now explicitly obligated to cooperate with local governments in preparing these financial statements and audit reports, and their failure to do so will not result in liability for the local government itself. The bill also clarifies that the state auditor can grant exceptions to audit filing requirements for good cause shown, and outlines conditions under which extensions can be granted, including a 90-day extension following a previously granted 180-day waiver.

Government Affairs

https://www.legis.ga.gov/legislation/69849