This bill amends Section 11.6 of the Code of Iowa to introduce a new subsection that outlines the procedures for investigating suspected embezzlement, theft, or other significant financial irregularities within governmental subdivisions. Upon notification of such misuse of public funds by a certified public accountant and the governmental subdivision, they are required to cooperate with the auditor of state to establish investigation procedures. The auditor will then decide whether to conduct further procedures, and the governmental subdivision will be responsible for reimbursing the auditor for any investigative actions taken, with costs capped at the amount of public funds misused.

The bill emphasizes the importance of accountability in the management of public funds by ensuring that any suspected financial misconduct is thoroughly investigated. It defines "governmental subdivision" to include various entities such as cities, counties, community colleges, and school districts, thereby broadening the scope of oversight and reinforcing the state's commitment to financial integrity in public administration.

Statutes affected:
Introduced: 11.6