SB1316 Financial Audit Publication & Accountability (Pierce - 2014)

SB1316 imposes a penalty for a county, community college, city or town that fails to comply with the
financial reporting filing requirements of eight months (includes extension granted by the Auditor
General) by disallowing the entity from adopting a general fund budget in the subsequent year that
exceeds the current year's general fund budget.

In addition, the financial audits must be posted on the entity's website within seven days of filing the
report with the Auditor General and the reports must be retained on the website for at least five years.

ATRA believes that taxpayers cannot participate in the budgeting process without the availability of
timely audits.