Idaho Code 58-1415 – Deposit and Disbursement of Funds
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(1) Immediately upon receipt, all moneys received by the commission shall be deposited in one (1) or more banks or trust companies approved under chapter 27, title 67, Idaho Code, as state depositories. The commission shall designate such banks or trust companies. All funds so deposited are hereby continuously appropriated for the purpose of carrying out the provisions of this chapter.
(2) Funds can be withdrawn or paid out of such accounts only upon checks or other orders upon such account signed by two (2) officers designated by the commission when the amount of such payments exceeds two thousand dollars ($2,000). Such designees may include the members of the staff of the commission.
Terms Used In Idaho Code 58-1415
- 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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(3) The right is reserved to the state of Idaho to audit the funds of the commission at any time.
(4) On or before January 15 of each year, the commission shall file with the senate and house committees responsible for natural resources, the director of legislative services, the state controller, and the division of financial management, a report showing the annual income and expenses by standard classification of the commission for the preceding year. The report shall also include an estimate of income of the commission for the current and next fiscal year and a projection of anticipated expenses by category for the current and next fiscal year. From and after January 15, 1994, the report shall also include a reconciliation between the estimated income and expenses projected and the actual income and expenses of the preceding year.
(5) All moneys received or expended by the commission shall be audited annually by a certified public accountant designated by the commission, who shall furnish a copy of such audit to the director of legislative services. The audit shall be completed within ninety (90) days following the close of the fiscal year.