SENATE AMENDMENT

    Bill No. CS/HB 3661, 1st Eng.

    Amendment No.    

                            CHAMBER ACTION
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11  Senator Rossin moved the following amendment:

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13         Senate Amendment 

14         On page 3, between lines 27 and 28,

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16  insert:

17         (6)  The Auditor General shall audit annually the

18  entire operation of the board. The Office of Program Policy

19  Analysis and Government Accountability In addition to his or

20  her regular financial and compliance audit, the Auditor

21  General shall also perform or cause to be performed a

22  performance audit of the management by the board of

23  investments every 2 years., including among other things his

24  or her independent verification of the data included by the

25  board in its reports to the Legislature required by subsection

26  (5).  The Auditor General may elect to contract with a private

27  professional firm qualified in investment portfolio management

28  to conduct the performance audit of investment management

29  required by this subsection.  In addition to the duties

30  prescribed in this subsection, the Auditor General and the

31  Office of Program Policy Analysis and Government

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                                                  SENATE AMENDMENT

    Bill No. CS/HB 3661, 1st Eng.

    Amendment No.    





 1  Accountability shall annually as part of his or her audit

 2  conduct performance postaudits of investments under s.

 3  215.47(6) which are not otherwise authorized under ss.

 4  215.44-215.53.  The Auditor General shall submit such audit

 5  report to the board, the President of the Senate, and the

 6  Speaker of the House of Representatives and their designees.

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    10:33 AM   04/27/98                             h3661c1b-35c8t