5-1140. Annual audit
(Conditionally Rpld.)
A. The board of directors of the district shall cause an annual audit to be
conducted of each of the authority's funds, accounts and subaccounts by an independent
certified public accountant within one hundred twenty days after the end of the fiscal
year.
B. The board shall immediately file a certified copy of the audit with the auditor
general. The auditor general may make such further audits and examinations as necessary
and may take appropriate action relating to the audit or examination pursuant to title
41, chapter 7, article 10.1. If the auditor general takes no further action within thirty
days after the audit is filed, the audit is considered to be sufficient.
C. The authority board shall pay negotiated and approved fees and costs of the
certified public accountant and auditor general under this section from the authority's
general fund.
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