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SB-742 City treasurers.(2017-2018)

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Date Published: 02/17/2017 09:00 PM
SB742:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Senate Bill No. 742


Introduced by Senator Moorlach

February 17, 2017


An act to amend Section 41002 of the Government Code, relating to local government.


LEGISLATIVE COUNSEL'S DIGEST


SB 742, as introduced, Moorlach. City treasurers.
Existing law requires the city treasurer to comply with all laws governing the deposit and securing of public funds and the handling of trust funds in his or her possession.
This bill would require the city treasurer, if the city has issued bonds, to use a system of accounting and auditing that adheres to generally accepted accounting principles. This bill would also make nonsubstantive changes to this provision.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 41002 of the Government Code is amended to read:

41002.
 He (a) The city treasurer shall comply with all laws governing the deposit and securing of public funds and the handling of trust funds in his or her possession.
(b) If the city has issued bonds, the city treasurer shall use a system of accounting and auditing that adheres to generally accepted accounting principles.