Idaho Code 40-1317 – Annual Financial Statement of District — Audit
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(1) On or before the first day of January of each year, the highway district shall make and file in its office a full, true and correct statement of the financial condition of the highway district on the first day of October of the preceding year, giving a statement of the liabilities and assets of the highway district on the first day of October of the preceding year, and a copy of the statement shall be published in at least one (1) issue of some newspaper published in the county.
(2) All highway districts shall have an annual audit made of the financial affairs of the district as required in section 67-450B, Idaho Code, by the first day of January following the close of the preceding fiscal year.
Terms Used In Idaho Code 40-1317
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.