Are there any laws governing the use and control of public funds?

Yes, there are laws governing the use and control of public funds in Washington. The Washington State Constitution states that all public funds must be expended only for the purposes stated in law and prohibits the wasting or misusing of public funds. Any funds which are not expended within a certain period of time will be returned to the treasury. Under Washington law, all public funds must be spent in accordance with proper procedures and regulations. The law requires that all public funds be used for their intended purpose and not for private gain. Most public funds must be deposited in the state treasury, and all disbursements must be authorized by law. Additionally, each local government must create a budget, track expenses, and notify the legislature of any changes in the budget. Washington also has laws regulating how public funds can be invested. These investments must generally be used for public purposes and may only be invested in certain approved investments. Additionally, local governments must also follow fiduciary duties when investing public funds, which includes carefully managing and protecting the funds. Finally, all local governments in Washington are required to have an independent audit of their finances at least once every two years to make sure that public funds are being spent in accordance with the law. This audit must be conducted by a third party auditor, and the audit results must be made available to the public.

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