Alabama § 16-44A-16 Establishment of Bank Accounts; Adoption of Annual Budget; Performance of Independent Annual Audit

Alabama Statutes

§ 16-44A-16 — Establishment of Bank Accounts; Adoption of Annual Budget; Performance of Independent Annual Audit

Alabama·Title 16 Education·Ch. 44A Alabama Compact for Leadership and Citizenship Education·Art. 1 General Provisions

(a)The board shall establish its account(s) and deposit its funds therein with any bank qualified to serve as a state depositary. All funds shall be governed by the applicable laws of Alabama, including the state bid law and the ethics act. Nothing herein shall be deemed to require uncompensated compact delegates, compact members, and board members to file annual statements of economic interests. The board shall adopt an annual budget, provide for its administration, and require bonding of officers and employees as it deems necessary and pay premiums therefor.

(b)There shall be an annual audit performed by a certified public accountant, appointed by the board, and a copy shall be furnished to the board, executive director, and to the Department of Examiners of Public Accounts. Nothing he

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(a) The board shall establish its account(s) and deposit its funds therein with any bank qualified to serve as a state depositary. All funds shall be governed by the applicable laws of Alabama, including the state bid law and the ethics act. Nothing herein shall be deemed to require uncompensated compact delegates, compact members, and board members to file annual statements of economic interests. The board shall adopt an annual budget, provide for its administration, and require bonding of officers and employees as it deems necessary and pay premiums therefor.
(b) There shall be an annual audit performed by a certified public accountant, appointed by the board, and a copy shall be furnished to the board, executive director, and to the Department of Examiners of Public Accounts. Nothing herein shall preclude the department from conducting an examination of the books or finances of the compact.

Alabama § 16-44A-16 (Establishment of Bank Accounts; Adoption of Annual Budget; Performance of Independent Annual Audit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.