Table of Contents TITLE 2. GOVERNMENT STRUCTURE AND ADMINISTRATION CHAPTER 7. STUDIES, REPORTS, AND AUDITS Part 5. Audits of Political Subdivisions
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2-7-501 1 2-7-502 1 2-7-503 1 2-7-504 2-7-505 2-7-506 2-7-507 2-7-508 2-7-509 2-7-511 2-7-512 2-7-513 2-7-514 1 2-7-515 2-7-516 1 2-7-517 2-7-518 2-7-521 2-7-522 2-7-523 2-7-524

Mont. Code Ann. § 2-7-504

(2019)

Accounting methods

(1) Unless otherwise required by law, the department shall prescribe by rule the general methods and details of accounting for the receipt and disbursement of all money belonging to local government entities and shall establish in those offices general methods and details of accounting. All local government entity officers shall conform with the accounting standards prescribed by the department.

(2) The rules adopted by the department must be in accordance with:

(a) generally accepted accounting principles established by the governmental accounting standards board or its generally recognized successor; or

(b) a small government financial reporting framework that is defined by the department and derived from the generally accepted accounting principles referenced in subsection (2)(a).

Opinions construing this section

1 opinion
2017 MT 258 Oct 25, 2017 Affirmed
Mitchell v. Glacier Co
Majority by Beth Baker · 6 to 1
for such entities. Sections 2-7-503(2), -504(1), MCA. Local government entities must “conform with the accounting standards prescribed by the department.” Section 2-7-504(1), MCA. ¶15 Under the Single Audit Act, local government entities must submit to independent financial audits every two years. Section 2-7-503(3), MCA. Once an ent
Official Annotations archive.org, 2019 edition
History:
En. 82-4530 by Sec. 16, Ch. 380, L. 1975
R.C.M. 1947, 82-4530
Amd. Sec. 1, Ch. 1, Sp. L. June 1989
Amd. Sec. 1, Ch. 11, Sp. L. June 1989
Amd. Sec. 4, Ch. 489, L. 1991
Amd. Sec. 6, Ch. 430, L. 1995
Amd. Sec. 35, Ch. 278, L. 2001 (SB 138 - Nelson, Linda (D) SD 49)
Amd. Sec. 1, Ch. 73, L. 2019
Source text on leg.mt.gov