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12d-8
12D.8 ANNUAL AUDITED FINANCIAL REPORT TO GOVERNOR AND
GENERAL ASSEMBLY.
1. a. The treasurer of state shall submit an annual audited
financial report, prepared in accordance with generally accepted
accounting principles, on the operations of the trust by November 1
to the governor and the general assembly.
b. The annual audit shall be made either by the auditor of
state or by an independent certified public accountant designated by
the auditor of state and shall include direct and indirect costs
attributable to the use of outside consultants, independent
contractors, and any other persons who are not state employees.
2. The annual audit shall be supplemented by all of the following
information prepared by the treasurer of state:
a. Any related studies or evaluations prepared in the
preceding year.
b. A summary of the benefits provided by the trust including
the number of participants and beneficiaries in the trust.
c. Any other information which is relevant in order to make a
full, fair, and effective disclosure of the operations of the trust.
Section History: Recent Form
98 Acts, ch 1172, §8; 2008 Acts, ch 1032, § 201
