2006 Kansas Code - 74-8111

      74-8111.   Annual report, contents, presentation and distribution; program funding levels, evaluation and recommendations; appropriations below threshold levels, effect; audit. (a) The corporation shall publish an annual report which shall include an audit in accordance with generally accepted accounting principles as of June 30 of each year, and present the report to the governor, legislature and Kansas, Inc., setting forth in detail the operations and transactions conducted by it pursuant to this act or to other legislation. The annual report shall specifically account for the ways in which the purpose of the corporation and the programs described in this act have been carried out, and the recommendations shall specifically note what changes in the activities of the corporation and the programs it administers, and of state government are necessary to better address the purposes described in this act. The corporation shall distribute its annual report by such means that will make it widely available to those innovative enterprises of special importance to the Kansas economy.

      (b)   The corporation shall annually review and prepare a report showing how and and at what level other states fund the programs provided for under this act. The corporation shall recommend an appropriate funding level for Kansas which will make these programs nationally competitive with those of other states. The corporation's findings and recommendations shall be submitted to the governor and the legislature.

      (c)   The corporation shall adopt a threshold funding level for each of the programs provided for under this act. The threshold amount shall provide for funding that is great enough to have a significant impact and carry out the intent of this act. If the appropriation to fund these programs falls below the threshold, then no funding shall be provided by the corporation to the program funded below threshold level.

      (d)   The corporation shall be subject to an audit by the legislative division of post audit.

      History:   L. 1986, ch. 284, § 11; Jan. 12, 1987.