Rhode Island General Laws 45-38.1-17. Annual report and audit
Within four (4) months after the close of each fiscal year of the corporation, it shall make a report to the governor, the speaker of the house, the president of the senate and the secretary of state of its activities for the preceding fiscal year, and the report shall present a complete operating and financial statement covering the corporation‘s operations during the preceding fiscal year. In addition the report shall provide a summary of the applications received and approved loans or aid provided to the communities and a summary of the status of loans and status of the school building authority capital fund. The corporation shall cause an audit of its books and accounts to be made at least once each fiscal year by certified public accountants, and the cost of the audit shall be paid by the corporation from funds available to it pursuant to this chapter. The report shall be posted as prescribed in § 42-20-8.2. The director of the department of administration shall be responsible for the enforcement of this provision.
History of Section.
P.L. 1967, ch. 56, § 1; P.L. 2015, ch. 141, art. 9, § 3.
Terms Used In Rhode Island General Laws 45-38.1-17
- 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 Rhode Island health and educational building corporation created and established as a nonbusiness corporation, under and pursuant to chapter 6 of Title 7, as amended, and constituted and established as a public body corporate and agency of the state under § 45-38. See Rhode Island General Laws 45-38.1-3
- 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 Rhode Island. See Rhode Island General Laws 45-38.1-3