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Senate Engrossed
agencies; single audit reports; penalty |
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State of Arizona Senate Fifty-sixth Legislature Second Regular Session 2024
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SENATE BILL 1473 |
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An Act
amending title 41, chapter 7, article 10.1, Arizona Revised Statutes, by adding section 41-1279.08; relating to the auditor general.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 41, chapter 7, article 10.1, Arizona Revised Statutes, is amended by adding section 41-1279.08, to read:
41-1279.08. Auditor general; single audit reports; penalty; withholding
A state agency that is required to comply with the federal single audit requirements shall be ASSESSED a penalty of one percent of the state agency's annual budget in the upcoming fiscal year for every thirty days the state agency is late in submitting a schedule of expenditures of federal awards to the auditor general. If a state agency submits a schedule of expenditures of federal awards late, the auditor general shall notify the state treasurer of the amount of the penalty and the state treasurer shall WITHHOLD that amount from the state agency's appropriation for the following fiscal year.