Bill > H3925

This bill amends several sections of South Carolina's state financial laws to improve financial transparency and accountability. The bill requires the Comptroller General to annually confirm the accuracy of cash and investments in the treasury by November 1st, breaking down the information by agency and fund using the South Carolina Enterprise Information System (SCEIS). The State Treasurer must now maintain a detailed accounting of cash and investments by agency and SCEIS fund, and produce an annual report by August 31st that confirms the accuracy and completeness of the financial data. The bill also modifies the State Treasurer's annual report to the General Assembly, expanding the required financial information and adding provisions to ensure data accuracy and confidentiality. Additionally, the bill introduces a requirement that the State Auditor cannot contract with the same external auditing firm for more than five consecutive years without prior review by the Joint Bond Review Committee. These changes aim to enhance oversight, transparency, and accuracy in the state's financial reporting and management processes, providing more comprehensive and reliable financial information to state legislators and the public.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3925&session=126&summary=B