The resolution proposes a significant overhaul of South Dakota's state accounting system by transferring its oversight from the Bureau of Finance and Management to the state auditor. This change is intended to enhance accountability and transparency in financial operations. It includes amendments to existing laws that redefine the state accounting system, outline the responsibilities of the state auditor, and establish procedures for financial reporting and budgeting. The state auditor will be responsible for preparing annual financial statements in accordance with generally accepted accounting principles and providing necessary financial information to the Bureau of Management and Budget upon request.

Additionally, the resolution mandates that these changes be presented to voters at the next general election for approval. It details the management of budgetary systems, classification of appropriations, and handling of unobligated cash within state funds. Key provisions include the requirement for the state auditor to retain funds for outstanding liabilities, administer the state accounting system, and reconcile balances with the state treasurer. The resolution also specifies the allocation of monthly state capital construction fund revenues to various funds and outlines the establishment of accounts for child support enforcement collections. The amendments are set to take effect on January 1, 2025, with preparations beginning on July 1, 2025.

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