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2004 SESSION

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HB 1447 State agencies; Department of Accounts to conduct recovery audits of state contracts.

Introduced by: Edward T. Scott | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Department of Accounts; recovery audits of state contracts. Requires the Department of Accounts to contract with one or more private contractors to conduct systematic recovery audits of state agency contracts. The bill contains a provision that authorizes the contractor to retain a percentage of any payment error that is recovered by such contractor, not to exceed 10 percent of the amount recovered. The recovery audits shall include identifying payment errors made by state agencies to vendors and other entities resulting from (i) duplicate payments, (ii) invoice errors, (iii) failure to apply applicable discounts, rebates, or other allowances, or (iv) any other errors resulting in inaccurate payments.


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