11-58-805. Audit report.
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Effective 3/16/2018
11-58-805. Audit report.
(1)The authority shall, within 180 days after the end of the authority's fiscal year, file a copy of the audit report with the county auditor, the State Tax Commission, the State Board of Education, and each taxing entity that levies a tax on property from which the authority collects property tax differential.
(2)Each audit report under Subsection
(1)shall include:
(a)the property tax differential collected by the authority;
(b)the outstanding principal amount of bonds issued or other loans incurred to finance the costs associated with the authority's projects; and
(c)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 authority.
Enacted by Chapter 179 , 2018 General Session