Municipal audits, expenditure thresholds for municipal audits revised

This act amends Section 11-43-85, Code of Alabama 1975, to increase the annual expenditure threshold amounts that trigger municipalities to conduct certain municipal audits as follows: (1) for required annual audits, from $300,000 of annual expenditures to at least $500,000; (2) for required biennial audits, from less than $300,000 of annual expenditures to between $300,000 and $500,000; and (3) for those municipalities whose city council may elect an annual audit in lieu of a biennial audit, fr