FORTY-NINTH LEGISLATURESB 311/a

FIRST SESSION, 2009

February 27, 2009

Madam President:

    Your FINANCE COMMITTEE, to whom has been referred

SENATE BILL 311, as amended

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. On page 3, lines 22 and 23, strike "financial reporting as appropriate to the level of the district's revenue" and insert in lieu thereof "and submit to an annual financial audit pursuant to the Audit Act if the district's annual revenue is five hundred thousand dollars ($500,000) or more;

             (3) provide for a financial report, according to rules for financial reporting that are established by the state auditor, in lieu of the requirement to submit to an annual financial audit pursuant to the Audit Act if the district's annual revenue is less than five hundred thousand dollars ($500,000);".

    2. Renumber the succeeding paragraphs accordingly.

                               Respectfully submitted,

                               __________________________________

                               John Arthur Smith, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 11 For 0 Against

Yes:     11

No:      0

Excused: None

Absent:  None

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