BILL ANALYSIS Ó
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|SENATE RULES COMMITTEE | AB 341|
|Office of Senate Floor Analyses | |
|(916) 651-1520 Fax: (916) | |
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CONSENT
Bill No: AB 341
Author: Achadjian (R)
Amended: 5/5/15 in Assembly
Vote: 21
SENATE GOVERNANCE & FIN. COMMITTEE: 7-0, 6/10/15
AYES: Hertzberg, Nguyen, Beall, Hernandez, Lara, Moorlach,
Pavley
ASSEMBLY FLOOR: 74-0, 5/22/15 (Consent) - See last page for
vote
SUBJECT: Financial affairs: reports
SOURCE: Author
DIGEST: This bill makes several changes to the statutes
requiring local governments to report annual financial
information to the State Controller's Office.
ANALYSIS:
Existing law:
1)Requires the State Controller to compile and publish reports
of the financial transactions of local governments, including
counties, cities, special districts, and joint powers
authorities.
AB 341
Page 2
2)Requires local governments, within 90 to 110 days of the end
of their respective fiscal years, to furnish the State
Controller with annual reports of their financial
transactions.
This bill:
1)Extends, to seven months after the end of a local agency's
fiscal year, the deadline for submitting to the Controller an
annual report of a local agency's financial transactions.
2)Requires the report submitted to the Controller to contain
underlying data from audited financial statements prepared in
accordance with generally accepted accounting principles, if
the data is available.
3)Allows a legislative body to post the report that is submitted
to the Controller's Office in a conspicuous location on its
Internet Website, as an alternative to furnishing paper copies
of the report to the public upon request.
4)Requires that a local agency must submit to the Controller
specified annual compensation information for the previous
calendar year no later than April 30th.
5)Requires the Controller to compile and publish reports, of the
financial transactions of each county, city, and special
district, on or before November 1st of each year following the
end of the annual reporting period.
6)Repeals a provision of law which establishes a separate
reporting deadline for a local agency that reports specified
information to the Office of Statewide Health Planning and
Development.
AB 341
Page 3
7)Repeals an obsolete deadline for a community redevelopment
agency to submit annual financial transactions information to
the Controller.
Background
Because the deadlines by which local governments must submit
annual financial transactions data to the State Controller often
fall before the date on which audited financial information for
the prior fiscal year is available, the data submitted to the
Controller is often imprecise and requires revisions before it
is published by the Controller. Local officials want the
Legislature to change the timelines for submitting some local
financial information to the Controller and make additional
changes to state law to ensure that local government financial
transactions information is more accurate and accessible when it
is made available to the public.
FISCAL EFFECT: Appropriation: No Fiscal
Com.:NoLocal: No
SUPPORT: (Verified6/11/15)
California Special Districts Association
California State Association of Counties
League of California Cities
OPPOSITION: (Verified6/11/15)
None received
ASSEMBLY FLOOR: 74-0, 5/22/15
AYES: Achadjian, Travis Allen, Baker, Bigelow, Bloom, Bonilla,
Bonta, Brough, Brown, Burke, Calderon, Campos, Chang, Chau,
AB 341
Page 4
Chávez, Chiu, Chu, Cooley, Cooper, Dababneh, Dahle, Daly,
Dodd, Eggman, Frazier, Beth Gaines, Gallagher, Cristina
Garcia, Eduardo Garcia, Gatto, Gipson, Gomez, Gonzalez,
Gordon, Gray, Grove, Hadley, Harper, Roger Hernández, Holden,
Irwin, Jones-Sawyer, Kim, Lackey, Levine, Linder, Lopez, Low,
Maienschein, Mathis, Mayes, McCarty, Medina, Melendez, Mullin,
Nazarian, Obernolte, Patterson, Perea, Quirk, Rendon,
Ridley-Thomas, Rodriguez, Salas, Santiago, Steinorth, Mark
Stone, Thurmond, Ting, Wagner, Wilk, Williams, Wood, Atkins
NO VOTE RECORDED: Alejo, Jones, O'Donnell, Olsen, Waldron,
Weber
Prepared by:Brian Weinberger / GOV. & F. / (916) 651-4119
6/12/15 15:42:43
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