The bill, introduced by Representative Thomas, seeks to amend various sections of the Revised Code concerning the Auditor of State and related public financial management practices. Key amendments include the removal of the requirement for assurances from financial institutions regarding the handling of public officials' records, while ensuring that services provided under contracts remain subject to audit by the Auditor of State. The bill also introduces new requirements for financial reports, including budgetary comparison information, and establishes penalties for late submissions. Additionally, it mandates training programs for newly elected fiscal officers and clerks, funded through registration fees, to enhance accountability and efficiency in public financial management.

Further amendments focus on procurement processes for state agencies and regional transit authorities, including the requirement for agencies to file names of contracted individuals or entities for investment management. The bill modifies competitive bidding procedures, allowing contracts under $100,000 to be made without competitive bidding while requiring full competition for larger expenditures. It also revises definitions related to competitive bidding for county authorities and introduces continuing education requirements for county recorders and auditors. Notably, the bill repeals several outdated sections of the Revised Code, indicating a significant overhaul of existing laws to streamline operations and clarify the responsibilities of public officials in financial management.

Statutes affected:
As Introduced: 9.35, 117.11, 117.38, 117.44, 127.16, 149.10, 149.30, 169.13, 306.43, 307.86, 308.13, 317.06, 317.20, 319.04, 321.03, 501.09, 501.11, 507.12, 703.34, 731.14, 731.141, 733.81, 735.05, 749.31, 1533.13, 3313.27, 3314.011, 3315.18, 3315.181, 3317.035, 3318.48, 3328.16, 3375.39, 3375.92, 3381.11, 3709.15, 3717.071, 5117.12, 5310.06, 5705.12, 5705.121, 5923.30, 6101.55, 117.113, 117.251, 117.441, 117.51, 501.03, 3314.50, 4115.31, 4115.32, 4115.33, 4115.34, 4115.35, 4115.36