ENROLLED
ACT No. 375
2015 Regular Session
HOUSE BILL NO. 123
BY REPRESENTATIVE THIBAUT
1 AN ACT
2 To amend and reenact R.S. 24:513(J)(1)(c)(introductory paragraph), (i)(aa) and (bb), (ii),
3 and (v)(aa) and (3), relative to audits; to provide relative to the threshold amount for
4 certain audit requirements; and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 24:513(J)(1)(c)(introductory paragraph), (i)(aa) and (bb), (ii), and
7 (v)(aa) and (3) are hereby amended and reenacted to read as follows:
8 ยง513. Powers and duties of legislative auditor; audit reports as public records;
9 assistance and opinions of attorney general; frequency of audits; subpoena
10 power
11 * * *
12 J.(1) The audits enumerated in Subsection A of this Section shall be
13 conducted frequently enough to control and safeguard the assets of the auditee as
14 follows:
15 * * *
16 (c) The financial statements of local auditees, as defined in Paragraph
17 A(3)(A)(3) of this Section, shall be audited as follows:
18 (i)(aa) Any local auditee that receives fifty seventy-five thousand dollars or
19 less in revenues and other sources in any one fiscal year shall not be required to have
20 an audit, but must file a certification with the legislative auditor indicating that it
21 received fifty seventy-five thousand dollars or less in funds for the fiscal year.
22 Monies received from urban or rural development grants shall not be used in fiscal
23 year computation of revenue amounts requiring an audit. The auditee shall annually
24 file with the legislative auditor sworn financial statements as required by R.S.
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1 24:514. However, the legislative auditor, at his discretion, may require said such
2 local auditee to have an audit of its books and accounts.
3 (bb) However, any volunteer fire department that receives fifty seventy-five
4 thousand dollars or less in funds in any one fiscal year shall not be required to have
5 an audit, but shall file a certification with the legislative auditor signed by the
6 president of the volunteer fire department indicating that the department received
7 fifty seventy-five thousand dollars or less for the fiscal year and shall annually file
8 with the legislative auditor sworn financial statements as required by R.S. 24:514.
9 The legislative auditor, at his discretion, may require any such volunteer fire
10 department to have an audit of its books and accounts.
11 * * *
12 (ii) Notwithstanding the provisions of R.S. 24:514, any local auditee that
13 receives more than fifty seventy-five thousand dollars in revenues and other sources
14 in any one fiscal year, but less than two hundred thousand dollars, shall cause to be
15 conducted an annual compilation of its financial statements, with or without
16 footnotes, in accordance with the Louisiana Governmental Audit Guide. However,
17 the legislative auditor, at his discretion, may require said such local auditee to have
18 an audit of its books and accounts.
19 * * *
20 (v)(aa) To provide enhanced additional oversight by the legislative auditor,
21 in any parish having a population of not less than two hundred twenty-five thousand
22 and not more than two hundred fifty thousand according to the latest federal
decennial census, the legislative auditor shall establish the criteria for procedures23
24 which shall be performed in addition to annual reporting requirements required by
25 this Section for entities with revenues of fifty more than seventy-five thousand
26 dollars or more per fiscal year.
27 * * *
28 (3) Notwithstanding the provisions of Subparagraph (1)(d) of this
29 Subsection, any auditee contained described in Item (A)(1)(b)(v) of this Section shall
30 be audited in accordance with Subitem (1)(c)(i)(aa) of this Subsection when it has
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1 received fifty seventy-five thousand or less in public funds in any one fiscal year.
2 Any such auditee shall be audited in accordance with Item (1)(c)(ii) of this
3 Subsection when it has received more than fifty seventy-five thousand dollars in
4 public funds in any one fiscal year. Any such auditee shall be audited in accordance
5 with Item (1)(c)(iii) of this Subsection when it has received three hundred fifty
6 thousand or more in public funds in any one fiscal year. Any such auditee shall be
7 audited in accordance with Item (1)(c)(iv) of this Subsection when it has received
8 three million five hundred thousand dollars or more in public funds.
9 * * *
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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