AB 330

Bill Subjects

Abstract

The Community Redevelopment Law requires every redevelopment agency to present an annual report to its legislative body that includes an independent financial audit report for the previous fiscal year and to inform the legislative body of major audit violations. The failure to correct the major violations may result in the filing of an action by the Attorney General. The Department of Housing and Community Development may examine the records of redevelopment agencies. This bill would establish a specified procedure by which the department, the Attorney General, and the courts would handle major audit violations. The bill also would authorize the Controller to conduct quality control reviews of independent financial audit reports to the extent it is feasible to do so within existing budgetary resources, and refer suspected violations to the California Board of Accountancy, as provided.