Louisiana Revised Statutes 40:512 – Annual reports of local housing authorities
Terms Used In Louisiana Revised Statutes 40:512
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A. Within a reasonable time after the end of each fiscal year, each local housing authority shall prepare a report generally describing such authority’s activities for the year then ended. Such report shall contain financial statements fairly depicting the financial condition of the authority, its assets and liabilities, including contingent liabilities, and the results of its operations for the year then ended. The report shall be approved by the local authority’s board of commissioners and signed by its chairperson.
B. The annual report of the local housing authority shall be a public record that is available for inspection and copying by members of the general public at the offices of the local housing authority.
C. A local housing authority shall also file its annual report with the municipal or parish clerk, or equivalent official whose duties include receipt and custody of public records of the municipality or parish, promptly upon completion thereof. Regional and consolidated housing authorities shall file annual reports with the appropriate officials of all participating political subdivisions.
Acts 1997, No. 1188, §1.