46A-3D-4. Audit--Annual report--Auditor-general authority.

The fiscal year of the water development district coincides with the calendar year.

At the conclusion of each fiscal year in which the district's revenues exceeded three hundred fifty thousand dollars, the board shall obtain, from the Department of Legislative Audit or an auditor approved by the department, an audit of the books, records, and financial affairs of the district. The district shall retain a written report of the audit in its principal place of business and shall file a copy in the Office of the Secretary of State. The district shall publish a notice regarding availability of the audit report in the official newspapers designated in accordance with § 46A-3D-11.

A district having three hundred fifty thousand dollars or less in annual revenue may submit an annual report in lieu of an audit. The district shall submit the report to the auditor-general, on forms prescribed by the department.

The auditor-general may audit the books and records of any office or officer of a district, if requested by the board or if the auditor-general finds that cause exists.

Source: SL 1984 (SS), ch 1, § 36; SL 2012, ch 218, § 1; SL 2023, ch 151, § 1.