The joint resolution seeks to transfer the oversight of South Dakota's state accounting system from the Bureau of Finance and Management to the state auditor, aiming to improve accountability and efficiency in financial reporting and management. It proposes amendments to existing laws that define the state accounting system, outline the responsibilities of the state auditor, and adjust the functions of the Bureau of Finance and Management. Key provisions include the requirement for the state auditor to prepare annual financial statements in line with generally accepted accounting principles and to provide financial data to the Bureau of Management and Budget as needed.

Additionally, the resolution details the management of state capital construction fund revenues, which will be allocated to the state highway fund and the water and environment fund under the state auditor's administration starting in fiscal year 2023. It also mandates the establishment of an account for child support enforcement collections and ensures timely remittance of funds to the general fund. The Bureau of Finance and Management will be renamed the Bureau of Management and Budget, with the proposed changes set to take effect on January 1, 2025, following preparations beginning on July 1, 2025. The resolution will be presented to voters for approval in the next general election, reflecting a commitment to enhancing the state's financial governance.

Statutes affected:
Introduced, 02/05/2025: 4-4-5, 4-4-6, 4-5-30, 4-7-1, 4-7-3, 4-7-7, 4-7-7.1, 4-7-32, 4-7-39, 4-7-40, 4-7-41, 4-7-45, 4-8A-5, 4-8B-10, 4-9-17, 4-10-3, 4-10-4, 4-10-6, 4-10-7, 5-27-5, 5-27-6, 10-12-3, 28-1-67