Sec. 32-210. Annual report. Audits.
Sec. 32-210. Annual report. Audits. (a) Within the first ninety days of each fiscal
year of the authority, the board of directors of the authority shall submit a report to the
Governor, the Auditors of Public Accounts and the joint standing committee of the
General Assembly having cognizance of matters relating to capital bonding. Such report
shall include, but not be limited to, the following: (1) A list of all bonds issued during
the preceding fiscal year, including, for each such issue, the financial advisor and underwriters, whether the issue was competitive, negotiated or privately placed, and the issue's
face value and net proceeds; (2) a description of the project, its location, and the amount
of funds, if any, provided by the authority with respect to the construction of the project;
(3) a list of all outside individuals and firms receiving in excess of five thousand dollars in
the form of loans, grants or payments for services; (4) a comprehensive annual financial
report prepared in accordance with generally accepted accounting procedures for governmental enterprises; (5) the cumulative value of all bonds issued, the value of outstanding bonds, and the amount of the state's contingent liability; (6) the affirmative action
policy statement, a description of the composition of the work force of the authority by
race, sex and occupation and a description of the affirmative action efforts of the authority; (7) a description of planned activities for the current fiscal year; and (8) an analysis
of the authority's success in achieving the purposes stated in section 32-204.
(b) The board of directors of the authority shall annually contract with a person, firm
or corporation for a compliance audit of the authority's activities during the preceding
authority fiscal year. The audit shall determine whether the authority has complied with
its regulations concerning affirmative action, personnel practices, the purchase of goods
and services and the use of surplus funds. The board shall submit the audit report to the
Governor, the Auditors of Pubic Accounts and the joint standing committee of the General Assembly having cognizance of matters relating to the authority.
(c) The board of directors of the authority shall annually contract with a firm of
certified public accountants to undertake an independent financial audit of the authority
in accordance with generally accepted auditing procedures. The board shall submit the
audit report to the Governor, the Auditors of Public Accounts and the joint standing
committee of the General Assembly having cognizance of matters relating to the authority. The books and accounts of the authority shall be subject to annual audits by the state
Auditors of Public Accounts.
(P.A. 90-320, S. 11, 14.)