Change provisions relating to the form and filing of public power district budgets and audits with the Nebraska Power Review Board

Stronger budget and audit rules for public power districts

The law requires public power districts and certain related agencies to prepare a proposed annual budget in a form approved by the Nebraska Power Review Board. Budgets must show revenue and spending by source for the past two years, current-year estimates, and a short fiscal policy summary. The proposed budget must be at the main office at least seven days before the board meeting, with a newspaper notice seven days ahead. The public can testify, a written record must be kept, and any later changes must be added at the main office before the meeting; if the final budget changes, a summary of changes must be available. Districts must use the calendar year for their fiscal year, unless a district with only one wholesale customer that is a city or village uses that city’s fiscal year. Each district must get an annual audit by a certified public accountant and file it with the Auditor of Public Accounts and the Nebraska Power Review Board within 180 days after the fiscal year ends, with a copy kept at the main office.