Bill Text: MI HB4408 | 2019-2020 | 100th Legislature | Chaptered
Bill Title: Local government; authorities; timing of audits of a recreational authority under the recreational authorities act; modify. Amends sec. 27 of 2000 PA 321 (MCL 123.1157).
Spectrum: Bipartisan Bill
Status: (Passed) 2019-12-03 - Assigned Pa 128'19 With Immediate Effect [HB4408 Detail]
Download: Michigan-2019-HB4408-Chaptered.html
Act No. 128
Public Acts of 2019
Approved by the Governor
November 21, 2019
Filed with the Secretary of State
November 21, 2019
EFFECTIVE DATE: November 21, 2019
state of michigan
100th Legislature
Regular session of 2019
Introduced by Reps. Miller and Cynthia Johnson
ENROLLED HOUSE BILL No. 4408
AN ACT to amend 2000 PA 321, entitled “An act to provide for the establishment of recreational authorities; to provide powers and duties of an authority; to authorize the assessment of a fee, the levy of a property tax, and the issuance of bonds and notes by an authority; and to provide for the powers and duties of certain government officials,” by amending section 27 (MCL 123.1157).
The People of the State of Michigan enact:
Sec. 27. (1) A board shall obtain an audit of the authority as required in this section, and report on the audit and auditing procedures, in the manner provided by sections 6 to 13 of the uniform budgeting and accounting act, 1968 PA 2, MCL 141.426 to 141.433. The audit must also be in accordance with generally accepted government auditing standards as promulgated by the United States Government Accountability Office and must satisfy federal regulations relating to federal grant compliance audit requirements.
(2) If an authority levies and collects a tax, or if an authority does not levy or collect a tax and has $100,000.00 or more in yearly expenditures, the board shall obtain an annual audit of the authority.
(3) If an authority does not levy or collect a tax and has less than $100,000.00 in yearly expenditures, the board shall obtain an audit of its financial records, accounts, and procedures not less frequently than biennially. However, if any audit under this subsection discloses a material deviation from generally accepted accounting practices or from applicable rules and regulations of a state department or agency or discloses any fiscal irregularity, defalcation, misfeasance, nonfeasance, or malfeasance, the department of treasury may require an audit to be conducted in the next year.
(4) An authority shall prepare budgets and appropriations acts in the manner provided by sections 14 to 19 of the uniform budgeting and accounting act, 1968 PA 2, MCL 141.434 to 141.439.
(5) The state treasurer, the attorney general, a prosecuting attorney, bank, certified public accountant, certified public accounting firm, or other person has the same powers, duties, and immunities with respect to the authority as provided for local units in sections 6 to 20 of the uniform budgeting and accounting act, 1968 PA 2, MCL 141.426 to 141.440.
(6) If an authority ends a fiscal year in a deficit condition, the authority shall file a financial plan to correct the deficit condition in the same manner as provided in section 21(2) of the Glenn Steil state revenue sharing act of 1971, 1971 PA 140, MCL 141.921.
(7) The board may authorize funds of the authority to be
invested or deposited in any investment or depository authorized under section
1 of 1943 PA 20, MCL 129.91.
This
act is ordered to take immediate effect.
Clerk of the House of Representatives
Secretary of the Senate
Approved___________________________________________
____________________________________________________
Governor
