1. The authority shall submit to the department of management, the legislative services agency, and the division of soil conservation and water quality of the department of agriculture and land stewardship, on or before December 31 annually, a report including information regarding all of the following:

 a. Its operations and accomplishments.
 b. Its budget, receipts, and actual expenditures during the previous fiscal year, in accordance with classifications it establishes for its operating and capital accounts.
 c. Its assets and liabilities at the end of the previous fiscal year and the status of reserve, special, and other funds.
 d. A statement of its proposed and projected activities.
 e. Recommendations to the governor and the general assembly, as deemed necessary.
 f. Any other information deemed necessary.

Terms Used In Iowa Code 161D.8

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Department: means the department of environmental quality in a reference to a time before July 1, 1983, the department of water, air and waste management in a reference to a time on or after July 1, 1983, and through June 30, 1986, and the department of natural resources on or after July 1, 1986, and includes any officer or agency within that department. See Iowa Code 172D.1
  • 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.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Fund: means the grain depositors and sellers indemnity fund created in section 203D. See Iowa Code 203D.1
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • year: means twelve consecutive months. See Iowa Code 4.1
 2. The annual report shall identify performance goals of the authority, and clearly indicate the extent of progress during the reporting period in attaining these goals.
 3. The fund shall be subject to an annual audit by the auditor of state.
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