(1)(a) Except as otherwise required in
paragraph (b) of this subsection (1), each audit required by this part 6 shall be
completed and the audit report thereon submitted by the auditor to the local
government within six months after the close of the fiscal year of the local
government.
(b)The audit required by this part 6 for school districts shall be completed
and the audit report thereon submitted by the auditor to the school district within
five months after the close of the fiscal year of the school district.
(c)The audit required by this part 6 for housing authorities shall be
completed and the audit report thereon submitted by the auditor to the housing
authority within seven months after the close of the fiscal year of the housing
authority.
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(1) (a) Except as otherwise required in
paragraph (b) of this subsection (1), each audit required by this part 6 shall be
completed and the audit report thereon submitted by the auditor to the local
government within six months after the close of the fiscal year of the local
government.
(b) The audit required by this part 6 for school districts shall be completed
and the audit report thereon submitted by the auditor to the school district within
five months after the close of the fiscal year of the school district.
(c) The audit required by this part 6 for housing authorities shall be
completed and the audit report thereon submitted by the auditor to the housing
authority within seven months after the close of the fiscal year of the housing
authority.
(2) One copy of the audit report shall be maintained by the local government
as a public record for public inspection at all reasonable times at the principal
office of the local government.
(3) The local government shall forward a copy of the audit report to the state
auditor within thirty days after receipt of said audit. The state auditor shall retain
such copy in his office as a public record where it shall be available for public
inspection at all reasonable times. In the case of a school district, a copy of the
audit report shall also be submitted to the commissioner of education within thirty
days after the audit report is received.
(4) If within one month after the time period provided in subsection (1) of this
section the local government is unable to file an audit report with the state auditor,
the governing body of the local government shall submit to the state auditor a
written request for extension of time to file. Such request for extension shall be
submitted no later than one month after the time period provided in subsection (1)
of this section. The state auditor may authorize an extension of such time for not
more than sixty days.
(5) (a) If the audit report of a local government is not filed with the state
auditor within two months after the time period provided in subsection (1) of this
section and the local government has not been granted an extension or exemption
from the filing requirement, the state auditor shall make written notice to the local
government of its delinquent status.
(b) If the audit report of a local government is not filed with the state auditor
within three months after the time period provided in subsection (1) of this section,
the state auditor shall either:
(I) Notify any county treasurer holding moneys of the local government
which were generated pursuant to the taxing authority of such local government of
the delinquent audit status of such local government and authorize such county
treasurer to prohibit the release of any such moneys until the local government
submits an audit report to the state auditor; or
(II) Make or cause such audit to be made at the expense of the local
government. The local government shall reimburse the state auditor for all amounts
advanced for the making of such audit, including any legal and court costs incurred
in the making of such audit.
(6) Repealed.
(7) In addition to the other requirements of this section, a special district, as
defined in section 32-1-103 (20), C.R.S., that has authorized but unissued general
obligation debt as of the end of the fiscal year of the special district shall submit its
audit report or a copy of its application for exemption from audit to the board of
county commissioners or the governing body of the municipality that adopted a
resolution of approval of the special district pursuant to section 32-1-204.5 or 32-1-204.7, C.R.S.
(8) Notwithstanding any other requirement of this part 6, in preparing the
audit report required by section 29-1-603 (4), the entities listed in section 29-1-602
(5)(b) shall be subject to the additional requirements of this section to the extent
practicable regardless of whether the entity is otherwise subject to the
requirements of this part 6.
Source: L. 65: p. 862, � 6. C.R.S. 1963: � 88-6-6. L. 75: (1) amended, p. 708, �
9, effective July 14. L. 85: (4) and (5) amended and (6) added, p. 1019, � 4, effective
March 1; (6) amended, p. 1372, � 53, effective July 1. L. 88: (1) amended, p. 822, � 33,
effective May 24. L. 89: (1) and (4) amended, (5) R&RE, and (6) repealed, pp. 1258,
1259, 1260, �� 7, 8, 11, effective May 2. L. 93: (1), (4), (5)(a), and IP(5)(b) amended, p.
889, � 14, effective May 6. L. 2008: (7) added, p. 61, � 2, effective August 5. L. 2009: (1)(c) and (8) added, (HB 09-1024), ch. 15, p. 85, �� 2, 3, effective September 1.