In this supplement to Report No. 20-06, we provide additional information about the special and revolving fund accounts, specifically whether the moneys in the accounts can be transferred to the State’s General Fund or otherwise repurposed.
June 30, 2019 Financial Statements and Single Audit Report The auditors from KMH LLP reported one significant deficiency in internal control over financial reporting and 13 material weaknesses in internal control over compliance that are required to be reported under Government Auditing Standards and the Uniform Guidance.
AUDITOR’S SUMMARY Sixty-three funds proposed in 2020 did not meet criteria We reviewed 99 House and Senate bills proposing 63 special and revolving funds during the 2020 legislative session of which none met criteria. ONLY ABOUT HALF OF THE MONEY the State spends each year comes from its main financial account, the general fund. The ...
Read More Report No. 20-04, Overview of Proposed Special and Revolving Fund Analyses