2006 Utah Code - 53B-8a-111 — Annual audited financial report to governor, Legislature, and state auditor.

     53B-8a-111.   Annual audited financial report to governor, Legislature, and state auditor.
     (1) The board shall submit an annual audited financial report, prepared in accordance with generally accepted accounting principles, on the operations of the trust by November 1 to the governor, the Legislature, and the state auditor.
     (2) The annual audit shall be made either by the state auditor or by an independent certified public accountant designated by the state auditor and shall include direct and indirect costs attributable to the use of outside consultants, independent contractors, and any other persons who are not state employees.
     (3) The annual audit shall be supplemented by the following information prepared by the board:
     (a) any studies or evaluations prepared in the preceding year;
     (b) a summary of the benefits provided by the trust including the number of participants and beneficiaries in the trust; and
     (c) any other information which is relevant in order to make a full, fair, and effective disclosure of the operations of the trust.

Enacted by Chapter 4, 1996 Special Session 2