Requiring annual audit of non-governmental organizations (“NGOs”) that receive money from the state

HB 3307 requires non-governmental organizations (NGOs) and nonprofit corporations receiving $100,000 or more in state funding (grants, awards, tax credits, or other support) to limit administrative costs to 15% of that funding. These organizations must submit annual financial reports to the West Virginia State Auditor, including sworn statements verifying funds were used as intended. The bill also mandates an annual audit by the State Auditor for all qualifying NGOs to ensure compliance with the spending limits and reporting requirements. This directly affects nonprofits receiving significant state funds, adding accountability measures to their financial operations.