TO AMEND THE ARKANSAS MUNICIPAL ACCOUNTING LAW; TO AMEND THE DUTIES OF A MUNICIPAL TREASURER; AND TO REQUIRE TRAINING FOR AN INDIVIDUAL CHARGED WITH DUTIES UNDER THE ARKANSAS MUNICIPAL ACCOUNTING LAW.

Senate Bill 553 amends the Arkansas Municipal Accounting Law, primarily affecting municipal treasurers and other individuals handling financial duties. It mandates that all municipal treasurers complete eight hours of training provided by the Arkansas Municipal League and Arkansas Legislative Audit, with new treasurers completing it within 180 days of taking office. The bill also allows municipalities to assign specific accounting duties, excluding fund collection, to another trained employee or a private qualified entity if the treasurer doesn't comply or requests it, and updates procedures for addressing non-compliance.