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TO AMEND SECTION 6-11-1650 OF THE 1976 CODE, RELATING TO ANNUAL FINANCIAL AUDITS FOR SPECIAL PURPOSE DISTRICTS, TO PROVIDE THAT A COUNTY AUDITOR MUST PROVIDE A CERTIFIED STATEMENT TO THE SECRETARY OF STATE IN THE EVENT THAT THE SPECIAL PURPOSE DISTRICT DOES NOT HAVE AVAILABLE FUNDS TO PERFORM AN AUDIT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 6-11-1650 of the 1976 Code is amended to read:
"Section 6-11-1650. (A) Each special purpose district shall provide an annual financial audit performed by a certified public accountant or public accountant to the county auditor in which the district resides. Where the boundaries of the district lie in more than one county, the audit must be made to each auditor in which the district is located.
(B) If a special purpose district does not have funding available to perform an audit as prescribed in subsection (A), then the county auditor must send a certified statement to the Secretary of State that funds are not available, in lieu of providing the annual financial audit."
SECTION 2. This act takes effect upon approval by the Governor.
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