2-7-504. 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).
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; amd. Sec. 1, Ch. 73, L. 2019.
Structure Montana Code Annotated
Title 2. Government Structure and Administration
Chapter 7. Studies, Reports, and Audits
Part 5. Audits of Political Subdivisions
2-7-502. Short title -- purpose
2-7-503. Financial reports and audits of local government entities
2-7-505. Audit scope and standards
2-7-506. Audit by independent auditor
2-7-507. Duty of officers to aid in audit
2-7-508. Power to examine books and papers
2-7-509. Audits of school-related organizations -- costs -- criteria
2-7-511. Access to public accounts -- suspension of officer in case of discrepancy
2-7-512. Exit review conference
2-7-513. Content of audit report and financial report
2-7-514. Filing of audit report and financial report
2-7-515. Actions by governing bodies
2-7-517. Penalties -- rules to establish fine
2-7-523. Cause of action -- failure to file reports and audits or resolve findings