H. B. 2607


(By Delegates Preece and H. White)
[Introduced March 16, 1993; referred to the
Committee on Political Subdivisions.]




A BILL to amend article five, chapter seven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section sixteen- a; and to amend article thirteen, chapter eight of said code by adding thereto a new section, designated section seventeen-a, all relating to the double entry method of accounting and requiring counties, municipalities and all entities of local government to utilize the double entry form of accounting.

 Be it enacted by the Legislature of West Virginia:
That article five, chapter seven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section sixteen-a; and that article thirteen, chapter eight of said code be amended by adding thereto a new section, designated section seventeen-a, all to read as follows:
CHAPTER 7. TRAINING PROGRAMS FOR COUNTY EMPLOYEES, ETC.;

COMPENSATION OF ELECTED COUNTY OFFICIALS; COUNTY ASSISTANTS,

DEPUTIES AND EMPLOYEES, THEIR NUMBER AND COMPENSATION.

ARTICLE 5. FISCAL AFFAIRS.

§7-5-16a. Double entry accounting.

Every county, county agency or county governmental entity shall use the double entry form of accounting in accounting for receipts of expenditures of funds. For the purpose of this section, double entry accounting is the accounting practice which indicates entries of both payments and withdrawals of any moneys in an account. Every county, county agency or county governmental agency shall adhere to generally accepted accounting principles.
CHAPTER 8. MUNICIPAL CORPORATIONS.

ARTICLE 13. TAXATION AND FINANCE.

§8-13-17a. Double entry accounting.

Every municipality, municipal agency or municipal government entity shall use the double entry form of accounting for receipts and expenditures of funds. For the purpose of this section, double entry accounting is the accounting practice which indicates entries of both payments and withdrawals of any moneys in an account. Every municipality, municipal agency of a municipal government entity shall adhere to generally accepted accounting principles.

NOTE: The purpose of this bill is to require the counties, municipalities and other local government agencies to utilize the double entry form of accounting and to adhere to generally accepted accounting principles.

POLITICAL SUBDIVISIONS COMMITTEE AMENDMENT


On page two, section sixteen-a, line twelve, following the word "principles", by changing the period to a colon and inserting the words "Provided, That county boards of education shall be exemptfrom the provisions of this section."