2005 Idaho Code - 22-4405 — DEPOSIT AND DISBURSEMENT OF FUNDS -- AUDITS -- REPORTS

                                  TITLE  22
                         AGRICULTURE AND HORTICULTURE
                                  CHAPTER 44
                         IDAHO AQUACULTURE COMMISSION
    22-4405.  DEPOSIT AND DISBURSEMENT OF FUNDS -- AUDITS -- REPORTS. (1) The
commission may accept assessment receipts, grants, donations and gifts of
funds from any source for expenditure for any purpose consistent with this
chapter which may be specified as a condition of any grant, donation or gift.
All funds received under the provisions of this chapter or as provided by law
shall be deposited into one (1) or more separate accounts in the name of the
commission in one (1) or more banks or trust companies approved under chapter
27, title 67, Idaho Code, as state depositories. The commission shall
designate such banks or trust companies. At the option of the commission, an
account known as the "Idaho Aquaculture Commission Account," to be
administered by the Idaho aquaculture commission, may be created and
established in the state treasury for the deposit of such funds. All funds so
deposited are hereby continuously appropriated for the purpose of carrying out
the provisions of this chapter. Any interest earned on the investment of idle
moneys in an account shall be returned to the account.
    (2)  Funds can be withdrawn or paid out of bank accounts only upon checks
or other orders upon such accounts signed by two (2) officers designated by
the commission.
    (3)  The right is reserved to the state of Idaho to audit the funds of the
commission at any time.
    (4)  On or before January 15 of each year, the commission shall file with
the senate agricultural affairs committee, the house agricultural affairs
committee, the legislative services office, the state controller, and the
division of financial management, a report showing the annual income and
expenses by standard classification of the commission during the preceding
fiscal year. The report shall also include an estimate of income to the
commission for the current fiscal year and a projection of anticipated
expenses by category for the current fiscal year. The report shall also
include a reconciliation between the estimated income and expenses projected
and the actual income and expenses of the preceding fiscal year.
    (5)  All moneys received or expended by the commission shall be audited
every second year, but shall address every year distinctly, by a certified
public accountant designated by the commission, who shall furnish a copy of
such audit to the director of legislative services and to the senate
agricultural affairs committee and the house agricultural affairs committee.
The audit shall be completed within ninety (90) days following the close of
the fiscal year.