The bill SB1473 proposes to impose a penalty on state agencies that fail to submit their Schedule of Expenditures of Federal Awards (SEFA) on time to the Auditor General. Specifically, the penalty will be set at one percent of the federal funds received annually by the agency for every 30 days the submission is late. Additionally, if a state agency submits the SEFA late, the Auditor General is required to inform the State Treasurer of the penalty amount, which will then be deducted from the agency's appropriation for the next fiscal year.

This bill amends current law by specifying that the penalty is based on the amount of federal funds received, rather than the agency's overall budget. The new language clarifies the penalty structure and the process for withholding funds, aiming to enhance accountability among state agencies regarding timely reporting of federal expenditures.

Statutes affected:
Introduced Version: 41-1279.08
Senate Engrossed Version: 41-1279.08
House Engrossed Version: 41-1279.08