§ 66705
79 words·~1 min read·
/ca/government-code/66705A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The board shall provide for regular audits of the authority’s accounts and records and shall maintain accounting records and shall report accounting transactions in accordance with generally accepted accounting principles adopted by the Government Accounting Standards Board of the Financial Accounting Foundation for both public reporting purposes and for reporting of activities to the Controller.
(b)The board shall provide for annual financial reports. The board shall make copies of the annual financial reports available to the public.