Do you file an Annual Expenditure Limitation Report, or an AELR? If so, did you know that, beginning in fiscal year 2021, you are required to submit to the Auditor General by July 31st who will be officially be signing the report?
Per A.R.S. §41-1279.07(E), every county, city, town or community college district must provide to the Auditor General no later than July 31st, the NAME of the Chief Fiscal Officer (CFO) the governing body has designated to officially submit the current year’s AELR on the governing body’s behalf. The designated chief fiscal officer, will certify, by signing the report, to the accuracy of the AELR.
Additionally, it should be noted that this must be a formal designation by the governing body. City and town councils MUST pass a resolution to make this designation official. The Auditor General has provided a resolution template available on their website to make the annual CFO designation.
Once the resolution has been passed by the governing body, then the entity will complete the CFO designation form electronically on the Auditor General’s website no later than July 31st. The form requires, the designee’s name, title, phone number, and email. When submitting the CFO Designation Form, you are required to upload a copy of the approved Resolution with it. Once everything has been submitted the entity will receive a confirmation email.
Why is this so important you ask? The reason is that if the name of the designated person who signs Part I of the AELR does not agree the CFO Designation Form and Resolution, then the Auditor General will NOT accept the AELR. Therefore, ensure these names match to alleviate any future trouble submitting your reports.
It should also be noted that this process of approving a resolution and submitting the CFO designation form must be done annually by each entity no later than July 31st. For more information, please visit the Auditor General’s website at azauditor.gov.
Feel free to contact your Henry+Horne tax adviser with any questions on the above, or audits in general. For more information on how Henry+Horne can help you with your audit, check out our Audit Services page.
Cailee Lewis, CPA