A. The governing board shall cause an annual audit to be made of the impact aid revenue bond building fund and the impact aid revenue bond debt service fund, including all accounts and subaccounts in the funds. A certified public accountant shall conduct the audit within ninety days after the end of the fiscal year.

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Terms Used In Arizona Laws 41-5811

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Board: means the school facilities oversight board. See Arizona Laws 41-5701
  • 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.
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215

B. The governing board shall immediately file a certified copy of the audit with the auditor general. The auditor general may make any further audits and examinations that are considered to be necessary and take appropriate action relating to the audit or examination pursuant to Title 41, Chapter 7, article 10.1. If the auditor general takes no official action within thirty days after the audit is filed, the audit is considered to be sufficient.

C. The governing board shall pay negotiated and approved fees and costs of the certified public accountant and auditor general under this section from the impact aid revenue bond debt service fund.

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