Authorizes the Director to exempt a covered agency, with specified exceptions, from preparing such a statement for any fiscal year for which: (1) the total amount of budget authority available to the agency does not exceed $25 million; and (2) the Director determines that requiring an annual audited financial statement is not warranted due to the absence of risks associated with the agency's operations, the agency's demonstrated performance, or other factors that the Director considers relevant. Requires the Director to annually notify the House Committee on Government Reform and the Senate Committee on Governmental Affairs of each agency the Director has exempted and the reasons for each exemption.
Introduced in Senate
Read twice and referred to the Committee on Governmental Affairs. (text of measure as introduced: CR S5774)
Sponsor introductory remarks on measure. (CR S10219-10220)
Committee on Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Governmental Affairs. Reported by Senator Lieberman with an amendment in the nature of a substitute. Without written report.
Committee on Governmental Affairs. Reported by Senator Lieberman with an amendment in the nature of a substitute. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 733.
By Senator Lieberman from Committee on Governmental Affairs filed written report under authority of the order of the Senate of 10/17/2002. Report No. 107-331.
By Senator Lieberman from Committee on Governmental Affairs filed written report under authority of the order of the Senate of 10/17/2002. Report No. 107-331.
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