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Today, Senator Steven Choi (R- Irvine) is excited to announce the Governor signed his measure, Senate Bill 595. This bill will enforce greater transparency and fiscal responsibility at the local government level by imposing modest penalties on city and county finance officers who fail to submit their financial reports within a timely manner. The legislation aims to build public trust in local government, reassuring taxpayers that public funds are being managed effectively and efficiently.
“I’m thrilled that the Governor agrees transparency is crucial to maintaining trust between local governments and the communities they serve,” stated Senator Choi. “SB 595 will ensure that taxpayers have access to accurate, timely reporting of how their tax dollars are managed. The penalties are a strong message that late reporting will no longer be acceptable.”
Under the proposed bill, cities and counties would be required to submit their mandatory financial audit reports within ten months after the end of their local agency’s fiscal year. If officers of local agencies fail or refuse to file the reports, then they will be subject to fines.
Click here for more information on SB 595.