West Virginia Code 5B-10-4 – Reporting requirements
(a) Within 30 days of the end of the fiscal year, each granting body shall provide the Auditor with the information required in § 5B-10-6 of this code for each development subsidy provided to a recipient corporation by a granting body: Provided, That no development subsidy approved and legally obligated by the State of West Virginia shall be exempt from disclosure under this article.
Terms Used In West Virginia Code 5B-10-4
- 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.
- 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: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) The Auditor shall provide guidance to each granting body regarding the standard and manner of reporting specified in this section.
(c) The Auditor may accept one or multiple official reports of a granting body to satisfy the requirements of this section provided the information provided in the official reports discloses the information required by § 5B-10-6 of this code.
(d) The West Virginia Department of Economic Development may fulfill the requirements of this section on behalf of any granting bodies.
(e) The West Virginia Department of Economic Development may fulfill the requirements of this section by providing any agreements entered into or signed by the West Virginia Department of Economic Development which obligates public funds as of the date the agreement is entered into, signed or otherwise made public.