Senate File 2355 - Reprinted SENATE FILE 2355 BY COMMITTEE ON STATE GOVERNMENT (SUCCESSOR TO SF 2219) (As Amended and Passed by the Senate March 7, 2018 ) A BILL FOR An Act providing for an audit, accounting, and appraisal of the 1 Iowa communications network. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 SF 2355 (3) 87 gh/rn/jh
S.F. 2355 Section 1. AUDIT, ACCOUNTING, AND APPRAISAL OF IOWA 1 COMMUNICATIONS NETWORK. 2 1. The state auditor or an independent third party selected 3 by the state auditor shall conduct a comprehensive audit and 4 accounting of the Iowa communications network to include the 5 following components: 6 a. A complete financial audit of the network for the period 7 beginning July 1, 2015, and ending July 1, 2018, to identify 8 the revenues and expenses of the network and verify that 9 charges were properly made to all existing authorized users and 10 booked accurately by such authorized users and the network. 11 b. A complete inventory audit of all components included 12 in the network, including telecommunications-related and 13 non-telecommunications-related property or equipment. Such 14 inventory shall identify the age and condition of property 15 or equipment purchased or leased by the commission for the 16 operation of the network and verify physical connections to 17 current authorized users. 18 c. Information identifying and quantifying the amounts 19 billed for services performed by the network to current 20 authorized users. 21 d. Information identifying all current authorized users and 22 business units of the network. 23 e. Information identifying the duration, terms, and 24 conditions of all third-party contracts and leases entered into 25 by the network, including but not limited to any obligations 26 of the state that may survive a sale, lease, or transfer of any 27 network assets or services. 28 2. Following the completion of the comprehensive audit 29 and accounting required pursuant to subsection 1, the Iowa 30 telecommunications and technology commission shall select an 31 independent appraisal firm to conduct an appraisal of the 32 network and determine the current market value of the assets 33 listed in the audit and accounting. The independent appraisal 34 firm shall be selected through a competitive bidding process 35 -1- SF 2355 (3) 87 gh/rn/jh 1/ 2
S.F. 2355 not associated with the network or any of its vendors. 1 3. The results of the audit, accounting, and appraisal of 2 the network conducted pursuant to this section shall be made 3 available to the public on an internet site maintained by the 4 commission. 5 4. The audit, accounting, and appraisal of the network 6 conducted pursuant to this section shall be completed no later 7 than December 21, 2018. 8 -2- SF 2355 (3) 87 gh/rn/jh 2/ 2