This bill amends RSA 53-G:10 to provide an exception for communications districts from the requirement to hire an outside accountant for audits. Specifically, it allows the Department of Revenue Administration (DRA) to waive the independent audit requirement for any district that petitions the DRA, provided that the district demonstrates that its annual revenue or expenses were less than $50,000 in the previous year. Additionally, the district must not be a tax authority and must prohibit raising revenue from member municipalities except through voluntary contributions or contractual agreements.

The bill maintains the requirement for governing boards to conduct financial audits by certified public accountants and to review and accept these audits, but it introduces the possibility of waiving these audits under specific conditions. The effective date of the act is set for 60 days after its passage. The fiscal impact is expected to result in possible indeterminable decreases in local expenditures due to savings from waived audits, with no additional administrative costs anticipated for the DRA.

Statutes affected:
Introduced: 53-G:10
As Amended by the House: 53-G:10
Version adopted by both bodies: 53-G:10
SB585 text: 53-G:10