Bill > H0142

This bill amends Idaho Code Section 67-450B to update the minimum audit requirements for local governmental entities, such as cities, counties, authorities, and districts. The key changes include raising the expenditure thresholds that trigger audit requirements: entities with annual expenditures exceeding $300,000 must now conduct a full annual audit (previously $250,000), entities with expenditures between $200,000 and $300,000 can choose between annual or biennial audits (previously $150,000 to $250,000), and entities spending less than $200,000 have no minimum audit requirement (previously $150,000). The bill maintains existing provisions that audits must be performed by independent auditors following governmental auditing standards, with the completed audit report filed with the legislative services office within nine months of the audit period. The law also specifies that the entity's governing body must include audit expenses in its annual budget, and federal audit requirements will continue to take precedence over these state-level minimums. The bill will go into effect on July 1, 2025, and is declared an emergency measure.

Budget and Finance, Government Affairs

Local Government Committee (H)

https://legislature.idaho.gov/sessioninfo/2025/legislation/H0142/