ORDINANCE NO. BL2013-578

An Ordinance amending Section 5.04.070 of the Metropolitan Code pertaining to the audit requirement for nonprofit organizations receiving grants from the Metropolitan Government.

BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That Section 5.04.070 of the Metropolitan Code is hereby amended by deleting the first sentence of subsection B.6. and substituting with the following:

“For organizations receiving a grant or grants in excess of five thousand dollars ($5,000) during any one fiscal year, a copy of the organization's audit for the most recent fiscal year.”

Section 2. That this Ordinance shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Charlie Tygard

Amendment No. 1
To
Ordinance No. BL2013-578

Madam President:

I move to amend Ordinance No. BL2013-578 by deleting the existing Section 1 in its entirety and substituting with the following new Section 1:

Section 1. That Section 5.04.070 of the Metropolitan Code is hereby amended by deleting subsection B.6. and substituting with the following:

“6. For organizations with an annual operating budget in excess of fifty thousand dollars ($50,000) receiving a grant or grants in excess of five thousand dollars ($5,000) during any one fiscal year, a copy of the organization's audit for the most recent fiscal year. For purposes of this subsection, "audit" means a formal examination of the organization's accounting records and financial situation in accordance with the generally accepted auditing standards issued by the American Institute of Certified Public Accountants. Organizations that are exempt from submitting an audit from the most recent fiscal year pursuant to this subsection shall comply with the audit requirements of Tennessee Code Annotated § 7-3-314.”

Sponsored by: Charlie Tygard

LEGISLATIVE HISTORY
Introduced:	November 5, 2013
Passed First Reading:	November 5, 2013
Referred to:	Budget & Finance Committee
Amended:	November 19, 2013
Passed Second Reading:	November 19, 2013
Passed Third Reading:	December 3, 2013
Approved:	December 5, 2013
By: