SPLOST Program

The county and each municipality receiving SPLOST funds must maintain a record of each project for which the SPLOST proceeds are used. (51)

A schedule must be included in the annual audits of the county and each municipality receiving SPLOST funds.

Audit

The auditor is required to verify and test expenditures and provide assurances that the schedule described above is fairly presented in relation to the financial statements. The auditor's report must include an opinion, or disclaimer, as to whether the schedule is presented fairly in all material respects related to the financial statements taken as a whole. (52)

Annual Reporting

Prior to December 31 of each year, the county and each municipality receiving SPLOST funds must publish a non-technical report in a local newspaper of general circulation and in a prominent location on the local government website (if it maintains one). The report must include the following

Information on each approved project:

  • Original estimated cost
  • Current estimated cost if different from the original estimated cost
  • Amount expended in prior years
  • Amount expended in the current year
  • Any excess proceeds which have not been expended for a project or purpose (including all
  • Unexpended SPLOST funds held from a prior SPLOST)
  • Estimated completion date
  • Actual completion cost of each project completed during the current year

The annual report must also include a statement of what corrective action the local government intends to implement for each project that is underfunded or behind schedule and the statement of any surplus funds that have not been expended for a project.(53)

The county is not responsible for reporting information on municipal projects. The report may be published at any time during the calendar year and in the form determined by the local government issuing the report. Road, street, and bridge projects can be reported collectively and do not have to be broken down by specific project. (See Resources, Sample Annual Report, p. 66.)