Michigan Legislature - Act 2 of 1968

      MICHIGAN LEGISLATURE
95th Legislature Regular Session
Michigan Compiled Laws Complete Through PA 139 of 2009
House: Adjourned until Tuesday, December 01, 2009 1:30:00 PM
Senate: Adjourned until Tuesday, December 01, 2009 10:00:00 AM

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Act 2 of 1968

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UNIFORM BUDGETING AND ACCOUNTING ACT
Act 2 of 1968
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

Document	Type	Description
Section 141.421	Section	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.
Section 141.421a	Section	Short title.
Section 141.422	Section	Meanings of words and phrases.
Section 141.422a	Section	Definitions; A, B.
Section 141.422b	Section	Definitions; B to D.
Section 141.422c	Section	Definitions; E to G.
Section 141.422d	Section	Definitions; D to S.
Section 141.423	Section	Publication; hearings.
Section 141.424	Section	Annual financial report; contents; filing; extension; unauthorized investments prohibited; “pension” defined.
Section 141.424a	Section	Failure of local unit to report investments in derivative instruments or products.
Section 141.424b	Section	Schedule of derivative instruments and products; filing copies; Library of Michigan and depository libraries as depositories; retention of annual report by local unit.
Section 141.425	Section	Local units; audits.
Section 141.426	Section	Certified public accountants; cost.
Section 141.427	Section	Minimum auditing procedures and standards; form for report of auditing procedures; filing audit report and report of auditing procedures; time for filing; extension.
Section 141.428	Section	Contents of audit report.
Section 141.429	Section	Public inspection of audit reports.
Section 141.430	Section	Orders and subpoenas.
Section 141.431	Section	Violations of act.
Section 141.432	Section	Verification of transactions.
Section 141.433	Section	Scope of examiner's authority; production of records; divulging confidential information.
Section 141.434	Section	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.
Section 141.435	Section	Recommended budget; contents; limitation on total estimated expenditures.
Section 141.436	Section	General appropriations act; requirements; line items not mandated; taxation; limitation on estimated total expenditure.
Section 141.437	Section	General appropriations act; amendment; reports; recommendations.
Section 141.438	Section	Incurring debts or obligations; dividing appropriations into allotments; expenditures; application or division of money; restrictions on delegation of duties.
Section 141.439	Section	Expenditure of funds; transfers within appropriations.
Section 141.440	Section	Violation; filing; report; review and action by attorney general; civil action for recovery of funds and public property.
Section 141.440a	Section	Manuals, forms, and operating procedures; training and educational programs.

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