28-7675. Fund; annual financial audit and report A. The transportation board shall annually cause a financial audit to be made of the fund. The financial audit shall be conducted by a certified public accountant within six months after the end of each fiscal year. The board shall immediately file a certified copy of the audit with the auditor general. B. The board shall pay any fees and costs of the financial audit under this section from the fund. C. The transportation board is exempt from subsection A of this section if all of the following apply: 1. Unexpended monies do not remain in the fund except interest and investment earnings deposited pursuant to section 28-7674, subsection B, paragraph 6. 2. There are no outstanding eligible project loans in the fund. 3. All approved or pending eligible project loans or other financial assistance applications are disbursed, and the board does not expect additional financial assistance applications. 4. There are no outstanding board funding obligations due to the state treasurer.
‹ Prev All Arizona sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.