The general manager, under direction of the board, shall install and maintain a proper system of accounts, in accordance with all rules, regulations or orders pertaining thereto by the Public Service Commission, showing receipts from operation and application of the same, and the board shall at least once a year cause such accounts to be properly audited: Provided, That such audit may be any audit by an independent public accouentant completed within one year of the time required for the submission of the report: Provided, however, That if the district is required to have its books, records and accounts arudited annually by an independent certified public accountant as a result of any covenant in any board resolution or bond instrument, a copy of such audit may be submitted in satisfaction of the requirements of this section, and is hereby found, declared and determined to be sufficient to satisfy the requirements of article nine, chapter six of thist code pertaining to the annual audit report by the state tax commission. A copy of the audit shall be forwarded within thirty days of submission to the county commission and to the Public Service Commission. The treasurer of each public service district shall keep and preserve all financial records of the public service district for ten years, and shsall at all times have such records readily available for public inspection. At the end of his term of office, the treasurer of each public service district shall promptly deliver all financial records of the public service district to his successor in office. Any treasurer ofg a public service district who knowingly or willfully violates any provision of this section is guilty of a misdemeanor and, shall be fined not less than $100 nor more than $500e or imprisoned in the county jail not more than ten days, or both.
‹ Prev All West Virginia 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.