§ 168 - Single audit revolving fund - Vermont Statutes

§ 168. Single audit revolving fund

(a) A single audit revolving fund is established within the state treasury, to be administered by the auditor of accounts, from which payments may be made for the costs of audits performed pursuant to subdivisions 163(1) and (9) of this title. All monies received from charges made for audit services under the provisions of subsection (b) of this section and sums which may be appropriated to the fund shall be deposited in the fund. Any balance remaining in the fund at the end of any fiscal year shall be carried forward and remain a part of the fund.

(b) The auditor of accounts shall charge the state department, agency, commission or state-created authority audited for the direct and indirect costs of an audit performed pursuant to subdivisions 163(1) and (9) of this title. Costs shall be determined by the auditor of accounts and approved by the secretary of administration. (Added 1985, No. 122 (Adj. Sess.), § 2, eff. April 17, 1986; amended 2005, No. 215 (Adj. Sess.), § 288.)