Michigan Compiled Laws Act 2 Of 1968 Uniform Budgeting And Accounting Act (141.421 - 141.440a)

AN ACT to provide for the formulation and establishment of uniform charts of accounts and reports in local units of government; to define local units of government; to provide for the examination of the books and accounts of local units of government; to provide for annual financial reports from local units of government; to provide for the administration of this act; to prescribe the powers and duties of the state treasurer, the attorney general, the library of Michigan and depository libraries, and other officers and entities; to provide penalties for violation of certain requirements of this act; to provide for meeting the expenses authorized by this act; to provide a uniform budgeting system for local units; and to prohibit deficit spending by a local unit of government.

History: 1968, Act 2, Imd. Eff. Feb. 20, 1968 ;-- Am. 1978, Act 621, Eff. Apr. 1, 1980 ;-- Am. 1996, Act 401, Eff. Dec. 18, 1996

Section 141.421 Uniform Charts Of Accounts For Local Units; Design; Conformity To Uniform Standards; Maintenance Of Local Unit Accounts; Publication Of Standard Operating Procedures And Forms; Assistance, Advice, Or Instruction; Inadequacy Of Local Unit; Report; Services Of Certified Public Accountant Or State Treasurer; Expenses; Payment; Contract; Monthly Billings.
(1) The state treasurer shall prescribe uniform charts of accounts for all local units of similar size, function, or service designed to fulfill the...
Section 141.421a Short Title.
This act shall be known and may be cited as the “uniform budgeting and accounting act”. History: Add. 1978, Act 621, Eff. Apr. 1,
Section 141.422 Meanings Of Words And Phrases.
For the purposes of this act, the words and phrases defined in sections 2a to 2d have the meanings ascribed to them in those...
Section 141.422a Definitions; A, B.
(1) “Administrative officer” means an individual employed or otherwise engaged by a local unit to supervise a budgetary center. (2) “Allotment” means a portion...
Section 141.422b Definitions; B To D.
(1) “Budgetary center” means a general operating department of a local unit or any other department, institution, court, board, commission, agency, office, program, activity,...
Section 141.422c Definitions; E To G.
(1) “Expenditure” means the cost of goods delivered or services rendered, whether paid or unpaid, including expenses, debt retirement not reported as a liability...
Section 141.422d Definitions; D To S.
(1) “Depository library” means a depository library designated under section 10 of the library of Michigan act, 1982 PA 540, MCL 397.20. (2) “Legislative...
Section 141.423 Publication; Hearings.
The state treasurer, before the adoption of a uniform chart of accounts, shall provide for advance publication and for hearings thereon with an advisory...
Section 141.424 Annual Financial Report; Contents; Filing; Extension; Unauthorized Investments Prohibited; “pension” Defined.
(1) The chief administrative officer of each local unit shall make an annual financial report (local unit fiscal report) which shall be uniform for...
Section 141.424a Failure Of Local Unit To Report Investments In Derivative Instruments Or Products.
(1) If a local unit fails to report investments in derivative instruments or products as required by section 4, the state treasurer may determine...
Section 141.424b Schedule Of Derivative Instruments And Products; Filing Copies; Library Of Michigan And Depository Libraries As Depositories; Retention Of Annual Report By Local Unit.
(1) The state treasurer shall promptly file with the library of Michigan copies of a schedule of derivative instruments and products described in section...
Section 141.425 Local Units; Audits.
(1) A local unit having a population of less than 4,000 shall obtain an audit of its financial records, accounts, and procedures not less...
Section 141.426 Certified Public Accountants; Cost.
Local units may retain certified public accountants to perform such audits. If any unit fails to provide for an audit, the state treasurer shall...
Section 141.427 Minimum Auditing Procedures And Standards; Form For Report Of Auditing Procedures; Filing Audit Report And Report Of Auditing Procedures; Time For Filing; Extension.
(1) The state treasurer shall prescribe minimum auditing procedures and standards and these shall conform as nearly as practicable to generally accepted auditing standards...
Section 141.428 Contents Of Audit Report.
Every audit report shall do all of the following: (a) State that the audit has been conducted in accordance with generally accepted auditing standards...
Section 141.429 Public Inspection Of Audit Reports.
All audit reports submitted under this act shall be made available for public inspection. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968
Section 141.430 Orders And Subpoenas.
In connection with any audit and examination conducted under the provisions of this act, the state treasurer, or a deputy state treasurer, may issue...
Section 141.431 Violations Of Act.
If any audit or investigation conducted under this act discloses statutory violations on the part of any officer, employee or board of any local...
Section 141.432 Verification Of Transactions.
(1) For purposes of verifying any transactions disclosed by an audit or investigation, any person or firm authorized to conduct an audit under this...
Section 141.433 Scope Of Examiner's Authority; Production Of Records; Divulging Confidential Information.
(1) Notwithstanding the confidentiality provisions of any tax laws, any authorized employee of the state treasurer, certified public accountant or firm of certified public...
Section 141.434 Budget; Preparation, Presentation, And Control Of Expenditures; Information; Transmitting Recommended Budget To Legislative Body; Suggested General Appropriations Act; Consideration Of Recommended Budget; Furnishing Information To Legislative Body; Public Hearing.
(1) Unless otherwise provided by law, charter, resolution, or ordinance, the chief administrative officer shall have final responsibility for budget preparation, presentation of the...
Section 141.435 Recommended Budget; Contents; Limitation On Total Estimated Expenditures.
(1) The recommended budget shall include at least the following: (a) Expenditure data for the most recently completed fiscal year and estimated expenditures for...
Section 141.436 General Appropriations Act; Requirements; Line Items Not Mandated; Taxation; Limitation On Estimated Total Expenditure; Presumption; Suit Against County Legislative Body; Standing; Mediation; Severability.
(1) Unless another method for adopting a budget is provided by a charter provision in effect on April 1, 1980, the legislative body of...
Section 141.437 General Appropriations Act; Amendment; Reports; Recommendations.
(1) Except as otherwise provided in section 19, a deviation from the original general appropriations act shall not be made without amending the general...
Section 141.438 Incurring Debts Or Obligations; Dividing Appropriations Into Allotments; Expenditures; Application Or Diversion Of Money; Restrictions On Delegation Of Duties; Enforcement Power; Suit Against Chief Administrative Officer Of County; Standing; Mediation; 60-day Period To Bring Suit In Michigan Court Of Appeals; Court Jurisdiction; Limitation; Certain Actions Barred; Expenditure Of Funds; Severability.
(1) A member of the legislative body, chief administrative officer, administrative officer, or employee of the local unit shall not create a debt or...
Section 141.439 Expenditure Of Funds; Transfers Within Appropriations.
(1) A member of the legislative body, the chief administrative officer, an administrative officer, or an employee of a local unit shall not authorize...
Section 141.440 Violation; Filing; Report; Review And Action By Attorney General; Civil Action For Recovery Of Funds And Public Property.
A violation of sections 17 to 19 by the chief administrative officer, an administrative officer, employee, or member of the legislative body of the...
Section 141.440a Manuals, Forms, And Operating Procedures; Training And Educational Programs.
(1) The department of treasury shall publish suggested manuals, forms, and operating procedures which may be used by local units in complying with this...

Last modified: October 10, 2016