SB553

Senate Bill 553 amends the Arkansas Municipal Accounting Law by establishing mandatory training requirements for municipal treasurers and their designees. Treasurers must complete eight hours of training provided by the Arkansas Municipal League in cooperation with Arkansas Legislative Audit within 180 days of taking office. The bill provides a process for municipalities to assign accounting duties to other employees or private, qualified contractors if a treasurer fails to comply or requests assistance. It also establishes standards for internal controls, insurance, and bonding when outsourcing these functions. Furthermore, it clarifies procedures for addressing noncompliance, including notifications to municipal governing bodies and potential requirements for reassigning duties if compliance is not achieved. The act is set to take effect on July 1, 2026.