shall file the report within 90 days after the end of their
fiscal year.
(2) Every authority shall have its books, accounts and
records audited annually by a certified public accountant,
and a copy of his audit report shall be filed in the same
manner and within the same time period as the annual report.
(3) A concise financial statement shall be published
annually at least once in a newspaper of general circulation
in the municipality where the principal office of the
authority is located.
(4) If the publication under paragraph (3) is not made
by the authority, the municipality shall publish such
statement at the expense of the authority.
(5) If the authority fails to make [such] an audit under
paragraph (2), then the controller, auditor or accountant
designated by the municipality is hereby authorized and
empowered from time to time to examine at the expense of the
authority the accounts and books of it, including its
receipts, disbursements, contracts, leases, sinking funds,
investments and any other matters relating to its finances,
operation and affairs.
* * *
Section 2. This act shall take effect in 60 days.
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