§ 35-20-6. Annual report.
(a) To ensure that the requirements of this section are fully complied with, each public
corporation shall prepare and submit a report on the adequacy of the corporation's
systems of internal accounting and administration control by December 31 of each year.
(b) The report, including the state agency's response to report recommendations, shall
be signed by the chairperson and/or the chief executive officer of the corporation
and addressed to the governor. Copies of the reports shall be forwarded to both houses
of the legislature, the auditor general, and the director. Copies of the
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§ 35-20-6. Annual report.
(a) To ensure that the requirements of this section are fully complied with, each public
corporation shall prepare and submit a report on the adequacy of the corporation's
systems of internal accounting and administration control by December 31 of each year.
(b) The report, including the state agency's response to report recommendations, shall
be signed by the chairperson and/or the chief executive officer of the corporation
and addressed to the governor. Copies of the reports shall be forwarded to both houses
of the legislature, the auditor general, and the director. Copies of these reports
shall also be forwarded to the state library where they shall be available for public
inspection.
(c) By September 30, 1995, the director, in consultation with the auditor general and
the controller, shall establish a system of reporting and a general framework to guide
the public corporations in performing evaluations on their systems of internal accounting
and administrative control. The director, in consultation with the auditor general
and the controller, may modify the format for the report or the framework for conducting
the evaluations from time to time as deemed necessary.
(d) Any material inadequacy or material weakness in systems of internal accounting and
administrative control which prevents the chair and/or chief executive officer of
the corporation from stating that the systems of internal accounting and administrative
control provided reasonable assurance that each of the objectives specified above
was achieved shall be identified and the plans and schedule for correcting the inadequacy
described in detail.
(e) The annual report of each public corporation shall also include financial statements
relating to the operation, properties, income, expenditure, assets, and liabilities,
including outstanding bonded indebtedness, of the corporation.