To ensure competence in the handling of municipal funds and the protection of public moneys, present law requires each municipality to have in its employ at least one certified municipal finance officer (CMFO) or an exempt individual as recorder, city clerk, director of finance, or other official or employee who has oversight responsibilities regarding the municipality's financial operations. Present law authorizes a municipality to contract with a certified public accountant to perform the duties of a CMFO. Present law requires a contracted CMFO to devote a minimum of 16 hours per month to financial oversight on behalf of the municipality. This bill revises this provision to not apply if the municipality has sought and received written approval from the comptroller of the treasury for its contracted CMFO to devote less than 16 hours per month. Such approvals are valid for one year, and municipalities must request a new approval from the comptroller of the treasury each year. ON MARCH 3, 2025, THE HOUSE LIFTED THE TABLING MOTION, RECONSIDERED ITS ACTION IN PASSING SENATE BILL 109, AND RESET SENATE BILL 109.

Statutes affected:
Introduced: 6-56-406(d), 6-56-406