§ 5-1.4-3-5 — Audit of books and accounts; annual report to mayor

Indiana § 5-1.4-3-5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.4: LOCAL PUBLIC IMPROVEMENT BOND BANKS
• Ch. 3: Powers and Duties

Text

(a) The bank shall have an audit of its books
and accounts made at least once each year by either the state board of
accounts or by an auditor or auditing firm to be appointed by the board
upon review of the firm's proposal by the state board of accounts. The
cost of the audit shall be considered an expense of the bank, and a copy
of the audit shall be made available to the public.
(b) The bank shall submit a report of its activities for each fiscal
year to the mayor not more than forty-five (45) days after the end of
each fiscal year. Each report shall set forth a complete operating and
financial statement covering its operations during that fiscal year.

Legislative History

As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.7.