An act relating to the fiscal reporting of local entities.

Amend KRS 65A.030 to increase the fiscal reporting levels of special purpose governmental entities; allow entities conducting yearly audits to move to an audit every 4 years if the entity receives 2 sequential audit reports with unqualified opinions and report the fact that the entity is operating under the alternative audit schedule to the Department for Local Government; require an entity to have yearly audits if the entity receives anything but an unqualified audit opinion at a subsequent aud