Utah Code 11-65-605. Audit report

11-65-605. Audit report.

(1)	The lake authority shall, within 180 days after the end of the lake authority’s fiscal year, file a copy of the audit report with the county auditor and the state auditor.

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.
Lake authority: means the Utah Lake Authority, created in Section 11-65-201. See Utah Code 11-65-101
Property: includes both real and personal property. See Utah Code 68-3-12.5
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5

(2)

Each audit report under Subsection (1) shall include:

(a)	the outstanding principal amount of bonds issued or other loans incurred to finance the costs associated with the lake authority’s projects; and

(b)

the actual amount expended for:

(i)	acquisition of property;

(ii)	site improvements or site preparation costs;

(iii)

installation of public utilities or other public improvements; and

(iv)	administrative costs of the lake authority.

Enacted by Chapter 59, 2022 General Session