West Virginia Code 31-18-24 – Annual audit; reports to Joint Committee on Government and Finance; information to joint committee or legislative auditor
The Housing Development Fund shall cause an annual audit to be made by an independent certified public accountant of its books, accounts, and records, with respect to its receipts, disbursements, contracts, mortgages, leases, assignments, loans, and all other matters relating to its financial operations, including those of the Operating Loan Fund, the Land Development Fund, and the Mortgage Finance Bond Insurance Fund. The person performing such audit shall furnish copies of the audit report to the commissioner of finance and administration, where they shall be placed on file and made available for inspection by the general public. The person performing such audit shall also furnish copies of the audit report to the Speaker of the House of Delegates, the President of the Senate, and the majority and minority leaders of both houses. The audit report shall be transmitted to the Speaker of the House of Delegates, the President of the Senate, and the majority and minority leaders of both houses of the Legislature electronically. Further, the report shall be provided to the legislative librarian to be posted to the legislative website. No hard copy of the audit report shall be issued; however, upon request a hard copy shall be provided.
Terms Used In West Virginia Code 31-18-24
- Affordable Housing Fund: means the affordable housing fund created and established by the Housing Development Fund in accordance with §. See West Virginia Code 31-18-3
- Housing Development Fund: means the West Virginia Housing Development Fund heretofore created and established by §. See West Virginia Code 31-18-3
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
- Land development: means the process of acquiring land for residential housing construction or nonresidential projects or of making, installing, or constructing improvements, including waterlines and water supply installations, sewer lines and sewage disposal installations, steam, gas, telephone, and telecommunications and electric lines and installations, roads, railroad spurs, docking and shipping facilities, streets, curbs, gutters, sidewalks, drainage, and flood control facilities, whether on or off the site, which the Housing Development Fund deems necessary or desirable to prepare such land for construction within this state. See West Virginia Code 31-18-3
- Land Development Fund: means the land development fund which may be created and established by the Housing Development Fund in accordance with §. See West Virginia Code 31-18-3
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage Finance Bond Insurance Fund: means the special trust fund created and established in the State Treasury in accordance with §. See West Virginia Code 31-18-3
- Operating Loan Fund: means the operating loan fund which may be created and established by the Housing Development Fund in accordance with §. See West Virginia Code 31-18-3
In addition to the foregoing annual audit report, the Housing Development Fund shall also render every six months to the Joint Committee on Government and Finance a report setting forth in detail a complete analysis of the activities, indebtedness, receipts, and financial affairs of such fund and the Operating Loan Fund, the Land Development Fund, Affordable Housing Fund, and the Mortgage Finance Bond Insurance Fund. Upon demand, the Housing Development Fund shall also submit to the Joint Committee on Government and Finance or the Legislative Auditor any other information requested by such committee or the Legislative Auditor. The report shall be available electronically only, and no hard copy of the report shall be issued; however, upon request a hard copy shall be provided.