218.504  Cessation of state action.--The Governor has the authority to terminate all state actions pursuant to ss. 218.50-218.504. Cessation of state action must not occur until the Governor has determined that:

(1)  The local governmental entity:

(a)  Has established and is operating an effective financial accounting and reporting system.

(b)  Has corrected or eliminated the fiscal emergency conditions outlined in s. 218.503.

(2)  No new fiscal emergency conditions exist.