This bill mandates the auditor of state to create and annually update a list of best practices aimed at maximizing the efficient use of public funds. These practices are intended to be innovative, practical, and based on common sense, and importantly, they do not require any legislative action for implementation. The auditor is tasked with distributing these recommendations to all public entities and requesting feedback on which of the recommendations are being adopted.

Furthermore, the auditor is required to compile an annual report that analyzes the responses received from public entities regarding the implementation of these best practices. This initiative aims to enhance transparency and accountability in the use of public funds across the state of Iowa.