Arizona § 28-7675 Fund; annual financial audit and report

Arizona Statutes

§ 28-7675 — Fund; annual financial audit and report

Arizona § 28-7675

Title 28Arizona Revised Statutes

Ch. 21STATE HIGHWAY FINANCING AND BONDING

Art. 5Highway Expansion and Extension Loan Program

This text of Arizona § 28-7675 (Fund; annual financial audit and report) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 28-7675 (2026).

Text

A.The transportation board shall annually cause a financial audit to be made of the fund. The financial audit shall be conducted by a certified public accountant within six months after the end of each fiscal year. The board shall immediately file a certified copy of the audit with the auditor general.

B.The board shall pay any fees and costs of the financial audit under this section from the fund.

C.The transportation board is exempt from subsection A of this section if all of the following apply:

1.Unexpended monies do not remain in the fund except interest and investment earnings deposited pursuant to section 28-7674, subsection B, paragraph 6.

2.There are no outstanding eligible project loans in the fund.

3.All approved or pending eligible project loans or other financial as

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A. The transportation board shall annually cause a financial audit to be made of the fund. The financial audit shall be conducted by a certified public accountant within six months after the end of each fiscal year. The board shall immediately file a certified copy of the audit with the auditor general.

B. The board shall pay any fees and costs of the financial audit under this section from the fund.

C. The transportation board is exempt from subsection A of this section if all of the following apply:

1. Unexpended monies do not remain in the fund except interest and investment earnings deposited pursuant to section 28-7674, subsection B, paragraph 6.

2. There are no outstanding eligible project loans in the fund.

3. All approved or pending eligible project loans or other financial assistance applications are disbursed, and the board does not expect additional financial assistance applications.

4. There are no outstanding board funding obligations due to the state treasurer.