2006 Kentucky Revised Statutes - .763   Audit of accounts -- Report of accountant -- Publication -- Copy of newspaper report to State Auditor of Public Accounts.

262.763 Audit of accounts -- Report of accountant -- Publication -- Copy of newspaper report to State Auditor of Public Accounts. (1) An audit of the accounts of each watershed conservancy district shall take place once every four (4) years unless the district receives or expends four hundred thousand dollars ($400,000) or more in any year, in which case the district shall provide for the performance of an annual audit. The board of directors of each watershed conservancy district shall select to make the audit certified public accountants who have no personal interest in the financial affairs of the board of directors or in any of its officers or employees. (2) Immediately upon completion of each audit, the accountant shall prepare a report of his findings and recommendations. This report shall be to the board of directors and in such number of copies as specified by the board of directors. Immediately following receipt of the audit report, the board of directors shall cause a summary of the report or the text of the report to be advertised for the district by publication in a newspaper of general circulation in the area encompassed by the watershed conservancy district. The actual expense of any audit authorized under this section shall be borne by the watershed conservancy district. (3) The board of directors shall forward a copy of the newspaper in which the audit report appeared to the State Auditor of Public Accounts. Effective: July 14, 2000 History: Amended 2000 Ky. Acts ch. 120, sec. 4, effective July 14, 2000. -- Created 1974 Ky. Acts ch. 152, sec. 1.