24RS HB 814

House Bill 814

Actions

Last Action	02/26/24: to Committee on Committees (H)
Title	AN ACT relating to public postsecondary educational institutions.
Bill Documents	Introduced
Bill Request Number	2372
Sponsors	G. Brown Jr., B. Chester-Burton
Summary of Original Version	Create new section of KRS Chapter 164 to require all postsecondary institutions to contract with an auditor and conduct an annual audit; set deadlines for finalization of the audit and submission of audit report and requirements if deadlines are not met; set rules for the Auditor of Public Accounts and Council on Postsecondary Education to place institution under a fiscal watch; require a fiscal recovery plan for institutions on fiscal watch; sets financial terms for contracts with auditors and reduction in fees for auditor's unreasonable delay; require reference to these requirements in audit contracts between postsecondary institutions and auditors.
Index Headings of Original Version	Education, Finance - Annual audit, requirements, deadlines, reports Education, Higher - Postsecondary institutions, annual audit, requirements, deadlines, reports Legislative Research Commission - Postsecondary institutions, audit report, fiscal watch, notice State Agencies - Council on Postsecondary Education, audit report, review Universities and Colleges - Annual audit, requirements, deadlines, reports Auditor of Public Accounts - Postsecondary institutions, audit report, review Audits and Auditors - Postsecondary institutions, annual audit, requirements, deadlines, reports Contracts - Postsecondary institutions and auditors, required terms