63H-1-705. Audit report.
144 words·~1 min read·
/ut/title-63h/chapter-1/63h-1-705·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 3/30/2015
63H-1-705. 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 allocation.
(2)Each audit report under Subsection
(1)shall include:
(a)the property tax allocation collected by the authority for each project area;
(b)the outstanding principal amount of bonds issued or other loans incurred to finance the costs associated with the authority's project areas; 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.
Amended by Chapter 377 , 2015 General Session