Pennsylvania Act 2018-136 — FIRST CLASS TOWNSHIP CODE - SURCHARGES, AUDITORS' REPORT AND PUBLICATION OF FINANCIAL STATEMENTS

Act text

Session of 2018

No. 2018-136

SB 772

AN ACT

Amending the act of June 24, 1931 (P.L.1206, No.331), entitled "An act concerning townships of the first class; amending, revising, consolidating, and changing the law relating thereto," in auditors, further providing for surcharges, auditors' report and publication of financial statements.

The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:

Section 1. Section 1003 of the act of June 24, 1931 (P.L.1206, No.331), known as The First Class Township Code, is amended to read:

Section 1003. Surcharges; Auditors' Report; Publication of Financial Statements.--The auditors shall complete their audit, settlement, and adjustment within as short a time as possible, and shall file copies thereof with the secretary of the township, the clerk of the court or the prothonotary, as may be provided by local rules of court, the Department of Community Affairs and the Department of Highways not later than ninety days after the close of the fiscal year. Any officer or person whose act or neglect has contributed to the financial loss of the township shall be surcharged by the auditors with the amount of such loss. They shall, within ten days after the completion of their report, publish, by advertisement in at least one newspaper of general circulation published in the township, or if no newspaper is published therein, then in one newspaper circulating generally in the township [a] , concise financial [statement setting forth the balance in the treasury at the beginning of the preceding fiscal year; all revenues received during the fiscal year by major classifications; all expenditures made during the fiscal year by major functions, and the current resources and liabilities of the township at the end of the fiscal year; the gross liability and net debt of the township; the amount of the assessed valuation of the township; the assets of the township with the character and value thereof; the date of the last maturity of the respective forms of funded debt and the assets in the sinking fund.] information prepared or approved by the auditors and consistent with the audited financial statements for total assets, total liabilities and total net position at the end of the fiscal year and total revenue, total expenses and changes in total net position for that fiscal year and a reference to a place within the township where copies of the financial statements and accompanying auditors' report may be examined. If the full financial statements and accompanying auditors' report are not published, copies shall be supplied to the publishing newspaper when the request for publication is submitted. The auditors' report and financial statement shall be made on uniform forms prepared and furnished, as provided in section 1701a of this act. The auditors' report and financial statement shall be signed by all of the auditors and the auditors' report shall be duly verified by the oath of one of the auditors. Any auditor refusing or wilfully neglecting to file an auditors' report shall, upon conviction thereof, in a summary proceeding be sentenced to pay a fine of five dollars for each day's delay beyond the time fixed herein for the filing of such report and costs. All fines recovered shall be for the use of the Commonwealth.

Section 2. This act shall take effect in 60 days.

APPROVED--The 24th day of October, A.D. 2018.

TOM WOLF