This bill amends sections 13-516 and 70-623 of the Reissue Revised Statutes of Nebraska, focusing on the budget preparation and fiscal audit requirements for public power districts and related agencies. It mandates that these entities prepare an annual proposed budget that includes detailed revenue and expenditure information from the previous two years, as well as estimates for the current year. The proposed budget must be made available for public inspection at least seven days before the board meeting where it will be adopted. Notably, the requirement for the budget to be in a form approved by the Nebraska Power Review Board has been removed.

Additionally, the bill stipulates that the fiscal year for districts aligns with the calendar year, with an exception for districts with a single wholesale customer that is a city or village. It requires that an audit of the district's financial affairs be conducted by a certified public accountant and that the audit results be filed with the Auditor of Public Accounts within 180 days after the fiscal year ends. The requirement to file the audit with the Nebraska Power Review Board has also been eliminated. The original sections 13-516 and 70-623 are repealed as part of this legislative update.

Statutes affected:
Introduced: 13-516, 70-623
Final Reading: 13-516, 70-623
Slip Law: 13-516, 70-623