63H-8-406. Annual report to governor and Legislature — Contents — Audits.
| (1) |
Terms Used In Utah Code 63H-8-406- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Utah Housing Corporation created by Section 63H-8-201, which, prior to July 1, 2001, was named the Utah Housing Finance Agency. See Utah Code 63H-8-103
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: means the state of Utah. See Utah Code 63H-8-103
| (a) |
The corporation shall, following the close of each fiscal year, submit, by October 1, an annual written report of its activities for the preceding year to the governor and the Retirement and Independent Entities Interim Committee. |
| (b) |
Each report shall set forth a complete operating and financial statement of the corporation during the fiscal year it covers. |
| (c) |
At least once each year, an independent certified public accountant shall audit the books and accounts of the corporation. |
| (d) |
A complete copy of each annual audit report shall be:
| (i) |
included in the report to the governor and the Legislature under Subsection (2); |
| (ii) |
available for public inspection at the corporation’s office; and |
| (iii) |
made available to the public on the corporation’s website. |
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| (2) |
The corporation shall, each fiscal year, submit a budget of its operations to the Legislature and the governor. |
| (3) |
| (a) |
The corporation shall form an audit committee consisting of no less than three trustees. |
| (b) |
The audit committee has exclusive authority to:
| (i) |
select and engage the independent certified public accountant to audit the corporation; and |
| (ii) |
supervise the audit. |
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| (4) |
The corporation shall provide additional information upon request by the governor, the Legislature, a legislative committee, the legislative auditor general, or the state auditor. |
Renumbered and Amended by Chapter 226, 2015 General Session
