This bill amends the existing law regarding audits for communications districts by providing an exception to the requirement of hiring an outside accountant for conducting audits. Specifically, it allows the Department of Revenue Administration (DRA) to waive the independent audit requirement for any communications district that petitions the DRA and demonstrates that its annual revenue was less than $50,000, or less than $2 million if the district is not a taxing authority and does not raise revenue from member municipalities except through voluntary contributions or contractual agreements. The governing board is still required to conduct a performance audit at least every two years and send the results to the governing bodies of member municipalities and the DRA.

The bill modifies RSA 53-G:10 by inserting new provisions that outline the conditions under which the DRA can waive the independent audit requirement, while retaining the existing requirements for audits and performance audits. There are no deletions from the current law, but the new language significantly alters the financial audit obligations for smaller communications districts, potentially leading to a decrease in local expenditures related to audit costs. The bill is set to take effect 60 days after its passage.

Statutes affected:
Introduced: 53-G:10
SB585 text: 53-G:10