5612 - Money of authority.
§ 5612. Money of authority. (a) Treasurer.--All money of any authority from whatever source derived shall be paid to the treasurer of the authority. (b) Report.--Every authority whose fiscal year ends December 31 shall file on or before July 1 an annual report of its fiscal affairs covering the preceding calendar year with the Department of Community and Economic Development and with the municipality creating the authority on forms prepared and distributed by the Department of Community and Economic Development. Authorities whose fiscal year does not end on December 31 shall file the report within 90 days after the end of their fiscal year. Every authority shall have its books, accounts and records audited annually by a certified public accountant, and a copy of his audit report shall be filed in the authority office for the purpose of public review and in the office of the municipality or municipalities that created the authority. A concise financial statement shall be published annually at least once in a newspaper of general circulation in the municipality where the principal office of the authority is located. If the publication is not made by the authority, the municipality shall publish such statement at the expense of the authority. If the authority fails to make such an audit, then the controller, auditor or accountant designated by the municipality is hereby authorized and empowered from time to time to examine at the expense of the authority the accounts and books of it, including its receipts, disbursements, contracts, leases, sinking funds, investments and any other matters relating to its finances, operation and affairs. (c) Attorney General.--The Attorney General of the Commonwealth shall have the right to examine the books, accounts and records of any authority. (Dec. 30, 2002, P.L.2001, No.230, eff. imd.) 2002 Amendment. Act 230 amended subsec. (b).