The fiscal year of a consumers power district shall coincide with the calendar year. The board of directors, at the close of each year’s business, shall cause an audit of the books, records, and financial affairs of the district to be made by the South Dakota Department of Legislative Audits or by a certified public accountant or firm of such accountants, who shall be selected by the district, subject to the approval of the auditor–general of South Dakota. The audit shall be in a form prescribed by the auditor–general and shall contain and show the items set forth in this chapter. When the audit has been examined and approved by the auditor–general, written copies thereof shall be placed and kept on file at the principal place of business of the district, and shall be filed with the auditor–general within one hundred and twenty days after December thirty–first of each year. Each district shall pay the cost of such audit.

Terms Used In South Dakota Codified Laws 49-38-2

  • 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.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2

Source: SL 1950 (SS), ch 17, § 33; SDC Supp 1960, § 52.1733; SL 1989, ch 403, § 23.

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