Bill > SB641

This bill establishes new requirements for state agencies to receive funding, aiming to protect taxpayer money by ensuring agencies have strong internal controls. Specifically, the state budget division of the department of finance and administration will not approve a state agency's budget for the next fiscal year if that agency has an overdue annual audit or an audit that reveals significant problems, known as "material weaknesses" or "significant deficiencies," which haven't been fixed. Similarly, the state board of finance cannot include an agency in a bond sale, and the department of finance and administration cannot release funds for capital projects or general appropriations to an agency that has unresolved audit issues. To facilitate this, the state auditor will provide a "release for budget" form to confirm an agency is up-to-date with its audits and has no outstanding significant audit problems.