2014 Connecticut General Statutes
Title 27 - Armed Forces and Veterans
Chapter 506 - Veterans
Section 27-138e - (Note: This section is effective July 1, 2014.) Biennial independent audit of fund. Audit report.

(a) The American Legion shall, on or before January fifteenth biennially, cause an independent audit of the Soldiers, Sailors and Marines Fund, described in section 27-138. Such audit shall be conducted in accordance with sections 4-230 to 4-236, inclusive, and regulations adopted pursuant to section 4-236. The audit report shall include: (1) A detailed description of the fund investments; (2) a description of investment returns, including interest, dividends, realized capital gains and unrealized capital gains organized by investment type; (3) a list of operating expenditures that describes the type, and includes the amount, of each expenditure; (4) a list of the number of grant recipients each month; (5) the fund balance for the current year, the amount of interest earned for the current year, the estimated fund balance for the subsequent year and the estimated interest earned for the subsequent year; and (6) any other information that is required to be reported to the Treasurer.

(b) Not later than seven business days after the date on which the American Legion receives the audit report of the independent audit described in subsection (a) of this section, the American Legion shall submit to the Treasurer and the joint standing committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding and veterans’ and military affairs a copy of such report. The American Legion shall make such report available to the public in a paper and an electronic format.

(P.A. 13-247, S. 122.)

History: P.A. 13-247 effective July 1, 2014.