§ 14-359-118 - Records and reports. - Arkansas Statutes

14-359-118. Records and reports.

(a) The commissioners shall keep a record of all revenues and expenditures of the airport and its related properties and facilities and shall submit monthly reports to the mayor and city council.

(b) (1) (A) It shall be the duty of the airport commissioners to prepare and file an annual report of the financial affairs and conditions of the municipal airport and its related properties and facilities, annually by January 15 and the first Monday in February thereafter.

(B) The report shall be filed in the office of the clerk or recorder of the municipality and shall be subject to the inspection of any citizen of the state.

(2) (A) The report shall set out a full detailed, complete, and correct statement of all receipts of every kind since the last report, showing the source thereof, and all disbursements of every kind showing date, amount, number, and purposes of each voucher, to whom issued, and the date cancelled, if cancelled.

(B) The report shall show:

(i) The full financial condition of the airport and its related properties and facilities;

(ii) The status of its bonded debt, if any; and

(iii) Every other detail necessary to a full and thorough understanding from the report of the actual financial condition of the municipal airport.

(3) The report shall be verified by the airport board of commissioners.

(c) The commissioners shall also furnish such other and further reports, data, and information as may be requested by the mayor or city council.