117-2-01 Internal controls.  

  • Text Box: ACTION: No Change Text Box: DATE: 10/27/2005 3:41 PM

     

     

     

    Rule Summary and Fiscal Analysis (Part A)

     

    Auditor of State

    Agency Name

     

    Mark Hamlin

    Division                                                                  Contact

     

    88 E. Broad Street Columbus OH 43216-1140

    614-752-8685

    614-466-4333

    Agency Mailing Address (Plus Zip)

    Phone

    Fax

     

     

    117-2-01

    Rule Number

    NO CHANGE

    TYPE of rule filing

    Rule Title/Tag Line              Internal controls.

    RULE SUMMARY

    1.  Is the rule being filed consistent with the requirements of the RC 119.032 review? Yes

    2.  Are you proposing this rule as a result of recent legislation? No

    3.  Statute prescribing the procedure in accordance with the agency is required to adopt the rule: 119.03

    4.  Statute(s) authorizing agency to adopt the rule: 117.19

    5.  Statute(s) the rule, as filed, amplifies or implements: 117.19

    6.  State the reason(s) for proposing (i.e., why are you filing,) this rule:

    This rule is being filed to comply with the RC 119.032 rule review requirements. We are proposing no changes to the rule.

    7.  If the rule is an AMENDMENT, then summarize the changes and the content of the proposed rule; If the rule type is RESCISSION, NEW or NO CHANGE, then summarize the content of the rule:

    The rule requires public offices to implement a system of internal controls to help ensure the achievement of office objectives in certain areas, particularly related to fiscal accountability. The rule goes on to provide some level of guidance to public

    offices in designing their systems of internal controls.

    8.  If the rule incorporates a text or other material by reference and the agency claims the incorporation by reference is exempt from compliance with sections

    121.71 to 121.74 of the Revised Code because the text or other material is generally available to persons who reasonably can be expected to be affected by the rule, provide an explanation of how the text or other material is generally available to those persons:

    This response left blank because filer specified online that the rule does not incorporate a text or other material by reference.

    9.  If the rule incorporates a text or other material by reference, and it was infeasible for the agency to file the text or other material electronically, provide an explanation of why filing the text or other material electronically was infeasible:

    This response left blank because filer specified online that the rule does not incorporate a text or other material by reference.

    10.  If the rule is being rescinded and incorporates a text or other material by reference, and it was infeasible for the agency to file the text or other material, provide an explanation of why filing the text or other material was infeasible:

    Not Applicable.

    11.  If revising or refiling this rule, identify changes made from the previously filed version of this rule; if none, please state so:

    Not Applicable.

    12. 119.032 Rule Review Date: 10/27/2005 and 10/01/2010

    (If the rule is not exempt and you answered NO to question No. 1, provide the scheduled review date. If you answered YES to No. 1, the review date for this rule is the filing date.)

    NOTE: If the rule is not exempt at the time of final filing, two dates are required: the current review date plus a date not to exceed 5 years from the effective date for Amended rules or a date not to exceed 5 years from the review date for No Change rules.

    FISCAL ANALYSIS

    13.  Estimate the total amount by which this proposed rule would increase / decrease either revenues / expenditures for the agency during the current biennium (in dollars): Explain the net impact of the proposed changes to the budget of your agency/department.

    This will have no impact on revenues or expenditures. 0

    The rule relates to the internal controls required of public offices. There is no fiscal impact on the Auditor of State's Office, beyond the system of internal controls that the Auditor of State, as a public office, must implement.

    14.  Identify the appropriation (by line item etc.) that authorizes each expenditure necessitated by the proposed rule:

    Not applicable.

    15.  Provide a summary of the estimated cost of compliance with the rule to all directly affected persons. When appropriate, please include the source for your information/estimated costs, e.g. industry, CFR, internal/agency:

    The rule requires public offices to implement a system of internal controls, specifically as they relate to fiscal accountability. Such a system requires a certain level of procedures and resource allocation in order to provide the proper level of communication, authorization, and verification. In other words, the checks and balances of a system of internal controls does have a cost associated with it, which will vary depending on the system designed by the public office. The rule does encourage public offices to give consideration to the cost benefit of any controls to be implemented.

    16.  Does this rule have a fiscal effect on school districts, counties, townships, or municipal corporations? No

    17.  Does this rule deal with environmental protection or contain a component dealing with environmental protection as defined in R. C. 121.39? No

Document Information

File Date:
2005-10-27
Five Year Review:
Yes
CSI:
Yes
Rule File:
117-2-01_PH_FYR_C_RU_20051027_1541.pdf
RSFA File:
117-2-01_PH_FYR_C_RS_20051027_1541.pdf
Related Chapter/Rule NO.: (1)
Ill. Adm. Code 117-2-01. Internal controls