HRS §23-3.6
How the audit revolving fund works
This section creates a special fund for paying audit costs. Money from various sources goes into the fund, and the auditor uses it to pay for audits of state and local government agencies and funds. It also covers hiring outside accountants to do those audits.
countiesstate agencies
The statute, as written — Audit revolving fund
(a) There is established the audit revolving fund to be administered by the office of the auditor, into which shall be deposited: (1) Reimbursement moneys received by any department, office, or agency of the State and its political subdivisions for financial audits; (2) Moneys received by the auditor from any department, office, or agency of the State and its political subdivisions for audit costs payable by special funds, revolving funds, capital improvement funds, or trust funds; (3) Legislative appropriations; and (4) All interest and investment earnings credited to the assets of the fund. (b) Moneys in the audit revolving fund shall be expended by the auditor to conduct audits of the State's departments, offices, agencies, and political subdivisions, audits of special, revolving, capital improvement, or trust funds, and for the services of certified public accountants contracted to conduct such audits. [L Sp 2003, c 4, pt of §1]
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