§ 24-54-114 — Audit

Every three years, the state auditor may conduct or cause
to be conducted an audit of any retirement plan or system of retirement benefits
established and maintained by any county in conjunction with any other county
pursuant to the provisions of this article. The audit shall review the financial
transactions and accounts of the plan or system, investigate the qualified status of
the plan or system with the internal revenue service, and determine whether the
plan or system otherwise complies with the provisions of this article. The results of
the audit shall be reported to the legislative audit committee created in section 2-3-101, C.R.S., the speaker of the house of representatives, the president of the
senate, and the boards of county commissioners of each county that participates in
the plan or system that is the subject of the audit. The audit shall not replace the
annual audit prescribed in section 29-1-603, C.R.S.

Legislative History

Source: L. 2003: Entire section added, p. 2505, � 1, effective June 5. L. 2005: Entire section amended, p. 363, � 9, effective April 22.