Oklahoma Senate Bill SB430

Oklahoma 2022 Regular Session

• Introduced: 2/1/21
• Refer: 2/2/21

Caption

State auditor and inspector; exempting certain audits of state agencies under a specified annual collection. Effective date.

Impact

The legislative changes proposed by SB430 will significantly alter the landscape of financial oversight in Oklahoma. By allowing exemptions, the bill intends to reduce administrative burdens on smaller agencies with limited financial footprint. Detractors may argue that this could lead to decreased transparency and accountability for these smaller entities, which traditionally operate with less scrutiny compared to larger agencies.

Summary

Senate Bill 430 aims to amend existing statutes concerning the duties of the State Auditor and Inspector in Oklahoma. The bill introduces provisions to exempt certain audits of state agencies based on their annual collections, specifically targeting agencies that collect less than three million dollars. This move seeks to streamline audit processes and focus state resources on higher-collection entities while still adhering to accountability measures for public funds.

Contention

The bill has sparked discussions around the balance between efficient use of resources and maintaining rigorous financial oversight. Proponents of SB430 suggest that the current system overextends the auditing requirements for smaller agencies, creating unnecessary work and expenses. Conversely, critics worry that exemptions may lead to gaps in monitoring public finances and could jeopardize the integrity of financial reporting for agencies that handle taxpayer money.