The bill H. 3925 aims to enhance the financial accountability and transparency of the South Carolina Treasury by introducing several amendments and new sections to the South Carolina Code of Laws. It mandates that the Comptroller General confirm the accuracy of cash and investments in the treasury for the previous fiscal year by November 1 each year. Additionally, it requires the State Treasurer to maintain an accounting of cash and investments by agency and fund, producing a report by August 31 each year for key legislative leaders. The bill also amends the annual reporting requirements of the State Treasurer to ensure the accuracy of financial data and to inform the General Assembly of any substantive concerns regarding the state's treasury.

Furthermore, the bill modifies the provisions related to the Comprehensive Annual Financial Report by stipulating that the State Auditor cannot contract with the same external auditing firm without prior review by the Joint Bond Review Committee. This aims to promote a more competitive and transparent auditing process. The act will take effect upon approval by the Governor, thereby reinforcing the state's commitment to financial integrity and oversight.

Statutes affected:
02/06/2025: 11-3-250, 11-5-290, 11-5-185, 11-7-60
02/12/2025: 11-3-250, 11-5-290, 11-5-185, 11-7-60
04/09/2025: 11-3-250, 11-5-290, 11-5-185, 11-7-60
04/14/2025: 11-3-250, 11-5-290, 11-5-185, 11-7-60
04/22/2025: 11-3-250, 11-5-290, 11-5-185, 11-7-60
04/23/2025: 11-3-250, 11-5-290, 11-5-185, 11-7-60
Latest Version: 11-3-250, 11-5-290, 11-5-185, 11-7-60