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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
House: GOV DP 4-3-0-0 |
HB 2015: budget procedures; late filing penalty
Sponsor: Representative Fink, LD 27
House Engrossed
Overview
Directs the Arizona Department of Administration (ADOA) to assess a penalty of 1/12 of one percent of an organization's state general fund appropriation for the next fiscal year if an organization fails to submit complete financial statements and federal expenditure information.
History
ADOA must develop a uniform accounting system, in accordance with generally accepted governmental accounting principles, for all budget units to ensure compliance with all legal and constitutional requirements, including those receiving, spending and accounting for public monies. All Arizona or county officers, boards, commissions or agencies that are required to prepare or publish annual reports of financial condition or operation must prepare or publish those reports within 90 days after the close of each fiscal year. The reports must include all matters and things required by law for the fiscal year, rather than the calendar year (A.R.S. §§ 35-103, 35-131).
Provisions
1. Instructs organizations included in Arizona's reporting entity to submit accurate and complete final financial statements and federal expenditure or program information to ADOA to meet the financial reporting and federal single audit requirements and deadlines of Arizona. (Sec. 1)
2. Requires ADOA, if an organization fails to submit accurate and complete final financial statements and federal expenditure or program information by October 31, to:
a. assess a penalty of 1/12 of one percent of the organization's state general fund appropriation for the ensuing fiscal year for every 30 days the submission is late; and
b. withhold the penalty amount from the organization's state general fund appropriation allotment schedule for the ensuing fiscal year. (Sec. 1)
3. Prohibits the total penalty assessed in any fiscal year from exceeding $8,000,000 or one percent of the organization's state general fund appropriation for the fiscal year in which the penalty is assessed, whichever is less. (Sec. 1)
4. Directs the maximum total penalty amounts be annually adjusted by the percentage increase or decrease in the maximum amount of monies available in the state General Fund for legislative appropriations determined and published by the Economic Estimates Commission. (Sec. 1)
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8. Initials ML HB 2015
9. 2/25/26 Page 0 House Engrossed
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