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Committee advances bill to raise audit thresholds for small local governments
Summary
House Bill 142 would raise expenditure thresholds that trigger annual audits for local governing entities, increasing several thresholds by $50,000. Proponents said the change reduces disproportionate audit costs for very small jurisdictions; the committee gave the bill a due-pass recommendation.
Representative Doug Pickett introduced House Bill 142 as an "inflationary measure" to raise the expenditure thresholds that determine audit frequency for local governing entities. Pickett told the committee that under current law an entity with expenditures exceeding $250,000 must have an annual audit and those with expenditures between $150,000 and $250,000 may elect a biennial audit; the bill would raise those thresholds by $50,000.
Pickett said the change…
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