LEGISLATIVE GENERAL COUNSEL H.B. 457
6 Approved for Filing: M. Cipriano 6 1st Sub. (Buff)
6 02-11-24 7:16 PM 6
Representative Anthony E. Loubet proposes the following substitute bill:
1 GOVERNMENTAL ACCOUNTING AMENDMENTS
2 2024 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: Anthony E. Loubet
5 Senate Sponsor: Daniel McCay
6
7 LONG TITLE
8 General Description:
9 This bill addresses a political subdivision's annual financial report.
10 Highlighted Provisions:
11 This bill:
12 < modifies the language of the certifications that a political subdivision's chief
13 financial officer and chief administrative officer are required to include with the
14 political subdivision's annual financial report; and
15 < makes conforming changes.
16 Money Appropriated in this Bill:
17 None
18 Other Special Clauses:
19 This bill provides a special effective date.
20 Utah Code Sections Affected: 1st Sub. H.B. 457
21 AMENDS:
22 11-50-201, as enacted by Laws of Utah 2013, Chapter 367
23
24 Be it enacted by the Legislature of the state of Utah:
25 Section 1. Section 11-50-201 is amended to read:
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26 11-50-201. Certification by chief administrative officer and chief financial officer
27 required.
28 For an annual financial report of a political subdivision to be considered complete on
29 and after [July 1, 2013] July 1, 2024, the following certifications shall be included with the
30 annual financial report:
31 (1) Under penalty of perjury, I, [officer's name] certify that [the [annual financial
32 report] of [political subdivision] for the year ended [date] fairly presents in all material respects
33 the financial condition and results of operations of [political subdivision]] I have reviewed the
34 [annual financial report] of [political subdivision] for the year ended [date]. To the best of my
35 knowledge and belief, the [annual financial report] does not contain an untrue statement of
36 material fact, or omit a material statement of fact, that would cause the [annual financial report]
37 to be misleading. To the best of my knowledge and belief, the financial statements, and other
38 information provided to the Office of the State Auditor in the [annual financial report], fairly
39 present in all material respects the financial condition and results of operation of [political
40 subdivision] for the year ended [date]. The Chief Financial Officer and I are responsible for the
41 design, implementation, maintenance, and evaluation of internal controls over financial
42 reporting, and the fair presentation of financial reports. I have disclosed any significant
43 deficiencies or material weaknesses in the internal controls that are reasonably likely to
44 adversely affect the fair presentation of the operations of [political subdivision].
45 [signature], Chief Administrative Officer.
46 (2) Under penalty of perjury, I, [officer's name] certify that [the [annual financial
47 report] of [political subdivision] for the year ended [date] fairly presents in all material respects
48 the financial condition and results of operations of [political subdivision]] I have reviewed the
49 annual financial report of [political subdivision] for the year ended [date]. To the best of my
50 knowledge and belief, the [annual financial report] does not contain an untrue statement of
51 material fact, or omit a material statement of fact, that would cause the [annual financial report]
52 to be misleading. To the best of my knowledge and belief, the financial statements, and other
53 information provided to the Office of the State Auditor in the [annual financial report], fairly
54 present in all material respects the financial condition and results of operation of [political
55 subdivision] for the year ended [date]. The Chief Administrative Officer and I are responsible
56 for the design, implementation, maintenance, and evaluation of internal controls over financial
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57 reporting, and the fair presentation of financial reports. I have disclosed any significant
58 deficiencies or material weaknesses in the internal controls that are reasonably likely to
59 adversely affect the fair presentation of the operations of [political subdivision].
60 [signature], Chief Financial Officer.
61 Section 2. Effective date.
62 This bill takes effect on July 1, 2024.
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Statutes affected:
Introduced: 11-50-201
H.B. 457 1st Substitute (Not Adopted) Text: 11-50-201