A. The board shall cause an audit to be made of the funds administered by the authority. The audit shall be conducted by a certified public accountant within one hundred twenty days after the end of the fiscal year. The board shall immediately file a certified copy of the audit with the auditor general.

Terms Used In Arizona Laws 49-1204

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Authority: means the water infrastructure finance authority of Arizona. See Arizona Laws 49-1201
  • Board: means the water infrastructure finance authority board established by section 49-1206. See Arizona Laws 49-1201
  • 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.
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215

B. The auditor general may make any further audits and examinations as deemed necessary and may take appropriate action relating to the audit or examination pursuant to Title 41, Chapter 7, Article 10.1. If the auditor general takes no official action within twenty days after the audit is filed, the audit is deemed sufficient.

C. The board shall pay any fees and costs of the certified public accountant and auditor general under this section from the funds administered by the board.

D. Not later than January 1 of each year the board shall make an annual report of its activities, including a copy of the annual audit, to the governor, the president of the senate and the speaker of the house of representatives.

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