Report Title:

Auditor; Reimbursement

Description:

Provides that reimbursements for financial audits from political subdivisions are required only in the event funds for financial audits are appropriated by the legislature.

THE SENATE

S.B. NO.

2731

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to the auditor.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Act 4, Special Session Laws of Hawaii 2003, is amended by amending section 1 to read as follows:

"SECTION 1. Chapter 23, Hawaii Revised Statutes, is amended by adding two new sections to be appropriately designated and to read as follows:

"23- Reimbursement moneys for financial audits. When any part of the costs of financial audits conducted by or contracted for by the auditor are reimbursable by moneys appropriated to or generated by any department, office, or agency of the State or its political subdivisions, the affected department, office, or agency of the State or political subdivision shall transmit those cost reimbursements to the auditor[.], provided however, reimbursement from political subdivisions are required only in the event funds for financial audits are appropriated by the state legislature. Moneys collected pursuant to this section shall be deposited in the audit revolving fund established by section 23- .

23 Audit revolving fund. (a) There is established the audit revolving fund to be administered by the office of the auditor, into which shall be deposited:

(1) Reimbursement moneys received by any department, office, or agency of the State and its political subdivisions for financial audits;

(2) Moneys received by the auditor from any department, office, or agency of the State and its political subdivisions for audit costs payable by special funds, revolving funds, capital improvement funds, or trust funds;

(3) Legislature appropriations; and

(4) All interest and investment earnings credited to the assets of the fund.

(b) Moneys in the audit revolving fund shall be expended by the auditor to conduct audits of the State's departments, offices, agencies, and political subdivisions, audits of special, revolving, capital improvement, or trust funds, and for the services of certified public accountants contracted to conduct such audits.""

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2004.

INTRODUCED BY:

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