17C-1-605 - Audit report.
17C-1-605. Audit report.
(1) Each agency required to be audited under Section 17C-1-604 shall, within 180 daysafter the end of the agency's fiscal year, file a copy of the audit report with the county auditor, theState Tax Commission, the State Board of Education, and each taxing entity that levies a tax onproperty from which the agency collects tax increment.
(2) Each audit report under Subsection (1) shall include:
(a) the tax increment collected by the agency for each project area;
(b) the amount of tax increment paid to each taxing entity under Section 17C-1-410;
(c) the outstanding principal amount of bonds issued or other loans incurred to financethe costs associated with the agency's project areas; and
(d) the actual amount expended for:
(i) acquisition of property;
(ii) site improvements or site preparation costs;
(iii) installation of public utilities or other public improvements; and
(iv) administrative costs of the agency.
Renumbered and Amended by Chapter 359, 2006 General Session