Bill > SB992

This bill modifies existing law regarding annual audits for special districts, which are local government entities formed for specific purposes like providing water or fire protection. Currently, county auditors are generally required to conduct or arrange for annual audits of these districts unless an audit is otherwise provided. However, special districts with annual revenues not exceeding $150,000 can opt for alternatives like a financial review, or until January 1, 2027, an agreed-upon procedures engagement or an annual financial compilation. This bill removes the January 1, 2027, expiration date for these alternative audit options and increases the revenue threshold for special districts to qualify for these alternatives from $150,000 to $250,000 annually.

Government Affairs

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB992