Rhode Island General Laws 35-12-16. Annual report and audit
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The corporation shall submit to the board of governors for higher education, within four (4) months after the close of its fiscal year, a report of its activities for the preceding fiscal year. The report shall set forth a complete operating and financial statement covering the corporation‘s operations during the preceding fiscal year. The corporation shall cause an independent audit of its books and accounts to be made at least once each fiscal year.
History of Section.
P.L. 1982, ch. 324, § 1.
Terms Used In Rhode Island General Laws 35-12-16
- Accounts: means accounts receivable, representing amounts due or owing to the university from contracts with the federal government or other independent entities for research activities undertaken by the university, the obligation for the payment of which accounts has arisen. See Rhode Island General Laws 35-12-3
- 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.
- Corporation: means the governmental agency and public instrumentality authorized, created, and established pursuant to § 35-12-4. See Rhode Island General Laws 35-12-3
- 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.