Arizona Laws 5-1140. Annual audit
Terms Used In Arizona Laws 5-1140
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Authority: means a sports authority established pursuant to this chapter. See Arizona Laws 5-1101
- Authority board: means the governing board of the sports authority. See Arizona Laws 5-1101
- Board of directors: means the county board of supervisors serving as the board of directors of the district. See Arizona Laws 5-1101
- District: means a sports authority district established pursuant to this chapter. See Arizona Laws 5-1101
- 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.
(Conditionally Rpld.)
A. The board of directors of the district shall cause an annual audit to be conducted of each of the authority‘s funds, accounts and subaccounts by an independent certified public accountant within one hundred twenty days after the end of the fiscal year.
B. The board shall immediately file a certified copy of the audit with the auditor general. The auditor general may make such further audits and examinations as necessary and may take appropriate action relating to the audit or examination pursuant to Title 41, Chapter 7, Article 10.1. If the auditor general takes no further action within thirty days after the audit is filed, the audit is considered to be sufficient.
C. The authority board shall pay negotiated and approved fees and costs of the certified public accountant and auditor general under this section from the authority’s general fund.