5-13-404. Legislative audit specialist services reserve account.
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5-13-404 . Legislative audit specialist services reserve account.
(1)There is an account in the state special revenue fund established by 17-2-102 to the credit of the legislative auditor to be known as the legislative audit specialist services reserve account. Money may be deposited in the account through an allocation of money to the account or as provided in 17-7-304 .
(2)The money in the account is statutorily appropriated, as provided in 17-7-502 , to the legislative auditor and may be used only for contracted services necessary to provide specialist expertise in support of activities authorized under this chapter.
(3)Allocations of money to the account must be approved by the legislative audit committee provided for in 5-13-201 , and the balance in the account may not exceed $50,000, not including interest earnings.
(4)The money in the account may be expended with the approval of the legislative auditor, who shall advise and consult with the legislative audit committee on the use of the money and the disposition of the account.
(5)The money in the account must be invested pursuant to Title 17, chapter 6. The income and earnings on the account must be deposited in the account.