1Amending Title 53 (Municipalities Generally) of the Pennsylvania
2Consolidated Statutes, in municipal authorities, further
3providing for money of authority.

4The General Assembly of the Commonwealth of Pennsylvania
5hereby enacts as follows:

6Section 1.  Section 5612(b) of Title 53 of the Pennsylvania
7Consolidated Statutes is amended to read:

8§ 5612.  Money of authority.

9* * *

10(b)  Report.--

11(1)  Every authority whose fiscal year ends December 31
12shall file on or before July 1 an annual report of its fiscal
13affairs covering the preceding calendar year with the
14Department of Community and Economic Development [and with],
15the municipality creating the authority and any municipality 
16served by the authority on forms prepared and distributed by
17the Department of Community and Economic Development.
18Authorities whose fiscal year does not end on December 31

1shall file the report within 90 days after the end of their
2fiscal year.

3(2)  Every authority shall have its books, accounts and
4records audited annually by a certified public accountant,
5and a copy of his audit report shall be filed in the
6authority office for the purpose of public review and in the
7office of the municipality or municipalities that created the
8authority.

9(3)  A concise financial statement shall be published
10annually at least once in a newspaper of general circulation
11in the municipality where the principal office of the
12authority is located.

13(4)  If the publication under paragraph (3) is not made
14by the authority, the municipality shall publish such
15statement at the expense of the authority.

16(5)  If the authority fails to make [such] an audit under 
17paragraph (2), then the controller, auditor or accountant
18designated by the municipality is hereby authorized and
19empowered from time to time to examine at the expense of the
20authority the accounts and books of it, including its
21receipts, disbursements, contracts, leases, sinking funds,
22investments and any other matters relating to its finances,
23operation and affairs.

24* * *

25Section 2.  This act shall take effect in 60 days.