Section 25-25-127 - Account of activities - receipts for expenditures - report - audit

(1) The authority shall keep an accurate account of its activities, receipts, and expenditures and shall annually make a report of its activities, receipts, and expenditures to the board, the governor, and the state auditor. The report shall be submitted within six months after the close of the authority's fiscal year and shall be in a form prescribed by the recipients of the report.(2) The state auditor may investigate the affairs of the authority, severally examine the properties and records of the authority, and prescribe methods of accounting and the rendering of periodical reports in relation to facilities undertaken by the authority. This article and the expenditures of the authority shall be reviewed by the legislative audit committee every odd-numbered year.L. 77: Entire article added, p. 1319, § 1, effective July 1. L. 79: Entire section amended, p. 1078, § 8, effective May 25. L. 2007: Entire section amended, p. 419, § 11, effective August 3.