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Michigan Legislature
Michigan Compiled Laws Complete Through PA 101 of 2020
House: Adjourned until Tuesday, July 21, 2020 1:30:00 PM
Senate: Adjourned until Wednesday, July 22, 2020 10:00:00 AM

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Act 2 of 1968
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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

© 2020 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 141.421SectionUniform 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 141.421aSectionShort title.
Section 141.422SectionMeanings of words and phrases.
Section 141.422aSectionDefinitions; A, B.
Section 141.422bSectionDefinitions; B to D.
Section 141.422cSectionDefinitions; E to G.
Section 141.422dSectionDefinitions; D to S.
Section 141.423SectionPublication; hearings.
Section 141.424SectionAnnual financial report; contents; filing; extension; unauthorized investments prohibited; “pension” defined.
Section 141.424aSectionFailure of local unit to report investments in derivative instruments or products.
Section 141.424bSectionSchedule of derivative instruments and products; filing copies; Library of Michigan and depository libraries as depositories; retention of annual report by local unit.
Section 141.425SectionLocal units; audits.
Section 141.426SectionCertified public accountants; cost.
Section 141.427SectionMinimum auditing procedures and standards; form for report of auditing procedures; filing audit report and report of auditing procedures; time for filing; extension.
Section 141.428SectionContents of audit report.
Section 141.429SectionPublic inspection of audit reports.
Section 141.430SectionOrders and subpoenas.
Section 141.431SectionViolations of act.
Section 141.432SectionVerification of transactions.
Section 141.433SectionScope of examiner's authority; production of records; divulging confidential information.
Section 141.433aSectionEnergy conservation improvements.
Section 141.434SectionBudget; 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 141.435SectionRecommended budget; contents; limitation on total estimated expenditures.
Section 141.436SectionGeneral appropriations act; requirements; line items not mandated; taxation; limitation on estimated total expenditure; presumption; suit against county legislative body; standing; mediation; severability.
Section 141.437SectionGeneral appropriations act; amendment; reports; recommendations.
Section 141.438SectionIncurring 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.
Section 141.439SectionExpenditure of funds; transfers within appropriations.
Section 141.440SectionViolation; filing; report; review and action by attorney general; civil action for recovery of funds and public property.
Section 141.440aSectionManuals, forms, and operating procedures; training and educational programs.
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