§ 113-315.9. Bond of financial officer; audit. - North Carolina Statutes

§ 113‑315.9.  Bondof financial officer; audit.

(a)        Before collecting and receiving such assessments, suchtreasurer or financial officer shall give bond to the agency to run in favor ofthe agency in the amount of the estimated total of such assessments as will becollected, and from time to time the agency may alter the amount of such bondwhich, at all times, must be equal to the total financial assets of the agency,such bond to have as surety thereon a surety company licensed to do business inthe State of North Carolina, and to be in the form and amount approved by theagency and to be filed with the chairman or executive head of such agency.

(b)        The chairman or executive head of such agency shall cause anannual certified audit to be made of the financial records of the agency.  Suchaudit shall include, among other things, total annual compensation of eachemployee of the agency and detailed expenses incurred and reimbursed for eachemployee of the agency.  The chairman or executive head of such agency shallcause a copy of the certified audit to be submitted to the Department within 60days of the end of the agency's fiscal year and shall cause a copy of theaudit, or a summary thereof, to be published at least once in one or morenewspapers having general circulation in the area where the assessments aremade within 60 days of the end of the agency's fiscal year.  If the chairman orexecutive head of the agency shall fail to carry out the provisions of thisparagraph, he shall be guilty of a Class 1 misdemeanor. (1967, c. 890, s. 17; 1971, c. 642, s. 2; 1973, c.1262, ss. 28, 86; 1977, c. 771, s. 4; 1989, c. 727, s. 115; 1993, c. 539, s.868; 1994, Ex. Sess., c. 24, s. 14(c).)