Financial council and reporting-budget reductions.

Plain English Breakdown

The official source does not provide information on how these changes will impact day-to-day operations of government agencies.

Financial Reporting and Advisory Council Changes

This law removes a requirement for preliminary financial reports from the state auditor, gets rid of the Financial Advisory Council, and changes the deadline for final annual financial reports.

What This Bill Does

• Removes the need for the State Auditor to provide a preliminary financial report before September 30 each year.
• Gets rid of the Financial Advisory Council that used to oversee the state's accounting system.
• Changes the deadline for the State Auditor’s final annual financial report from December 15 to December 31 each year.

Who It Names or Affects

• The State Auditor
• Government agencies involved in financial reporting

Terms To Know

Financial Advisory Council

A group that used to oversee the state's accounting system but is no longer needed.

Preliminary Financial Report

An early report on the state’s financial situation that was previously required by law, now removed.

Limits and Unknowns

• The bill does not specify how the changes will affect day-to-day operations of government agencies.
• It is unclear what happens to any ongoing work or recommendations from the Financial Advisory Council after its repeal.

Official Summary Text

Bill Summary - 21LSO-0350
Bill No.:

SF0072

Effective:

7/1/2021 12:00:00 AM

LSO No.:

21LSO-0350

Enrolled Act No.:

SEA No. 0021

Chapter No.:

59

Prime Sponsor:

Joint Appropriations Committee

Catch Title:

Financial council and reporting-budget reductions.

Subject:

Financial advisory council and financial reporting.

Summary/Major Elements:

Existing law provides for a financial advisory council to oversee the design and implementation of the uniform state accounting system.

This act repeals that council.

This act also removes the requirement that the State Auditor provide a preliminary financial report of the fiscal affairs of the State. In addition, it amends the date for the final financial report from December 15 to December 31 of each year.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent.

While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.

Current Bill Text

21LSO-0350

ORIGINAL Senate

File No
.
SF0072

ENROLLED ACT NO. 21,

SENATE

SIXTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING
2021 General Session

AN ACT relating to administration of government; removing a preliminary financial reporting requirement of the state auditor; repealing the financial advisory council; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 9
‑
1
‑
403(a)(v) is amended to read:

9
‑
1
‑
403.

State auditor; duties; prohibited acts; powers; investigative subpoenas.

(a)

The state auditor shall:

(v)

Make a preliminary
Provide an
annual financial report of the fiscal affairs of the state to the governor, president of the senate, speaker of the house
,
and cochairmen of the joint appropriations committee, on or before
September 30 of each year.

The state auditor shall provide a final annual report on or before
December
15
31 of each year
.

The report shall include financial statements which shall be prepared, insofar as practical, in conformance with generally accepted accounting principles;

Section 2.

W.S. 9
‑
4
‑
216 is repealed.

Section 3
.

This act is effective July 1, 2021
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

1