9-4-920 - Annual report to governor and Legislature -- Contents -- Audits. - Utah Statutes

9-4-920. Annual report to governor and Legislature -- Contents -- Audits.
(1) (a) The corporation shall, following the close of each fiscal year, submit an annualreport of its activities for the preceding year to the governor and the Legislature.
(b) Each report shall set forth a complete operating and financial statement of thecorporation during the fiscal year it covers.
(c) At least once each year, an independent certified public accountant shall audit thebooks and accounts of the corporation.
(d) A complete copy of each annual audit report shall be:
(i) included in the report to the governor and the Legislature under Subsection (2); and
(ii) available for public inspection at the corporation's office.
(2) The corporation shall, each fiscal year, submit a budget of its operations to theLegislature and the governor.
(3) (a) The corporation shall form an audit committee consisting of no less than threetrustees.
(b) The audit committee shall have exclusive authority to select and engage theindependent certified public accountant to audit the corporation and to supervise the audit.
(4) The corporation shall provide additional information when requested by the governor,the Legislature, a legislative committee, the legislative auditor general, or the state auditor.

Amended by Chapter 319, 2001 General Session