As of January 1, 2026, SB 595 revised the timeline for submitting Financial Transactions Reports (FTR) to the State Controller’s Office.

Local agencies must now file their FTR within 10 months of the close of the fiscal year — for many agencies, that means an April 30 deadline. The previous notice-based filing process has been eliminated, and penalties now apply if reports are not submitted by the statutory deadline.

Importantly, penalties are scaled based on total agency revenue, increasing the financial impact of noncompliance for larger agencies.

If your agency has not yet submitted its FTR, now is the time to confirm your filing status and review internal reporting calendars to ensure alignment with the updated requirement.

Act now to avoid penalties — verify your deadline and confirm your FTR submission plan today.

🔗 Learn More about SB 595.