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14-362-124. Accounts and reports.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-362-124. Accounts and reports.
(a)(1) All funds received by an authority shall be deposited in such banks as the authority may direct and shall be withdrawn therefrom in such manner as the authority may direct.
(2)(A) Each authority shall keep strict account of all of its receipts and expenditures and each quarter shall make a report to the counties and municipalities which have made contributions.
(B)(i) The report shall contain an itemized account of its receipts and disbursements during the preceding quarter.
(ii) The report shall be made within sixty (60) days after the termination of the quarter.
(b)(1)(A) Within one hundred fifty (150) days after the end of each fiscal year, each authority shall cause an annual audit to be made by an independent certified public accountant and shall file a copy of the resulting audit report with each of the governing bodies participating in the authority.
(B) This audit shall contain an itemized statement of its receipts and disbursements for the preceding year.
(2) The books, records, and accounts of each authority shall be subject to audit and examination by any proper public official or body in the manner provided by law.
(c) The agreement provided for in § 14-362-103 may also provide for each authority to furnish the participating governing bodies copies of its annual budget for examination and approval.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-362-124
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-362-124
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 02193b6d70967fb893739671fe7bf307fbbb8b666ef31b965da9b2f1e54a2b6b
Source location: content.xml paragraph 58969
Stored source content
14-362-124. Accounts and reports.
(a)(1) All funds received by an authority shall be deposited in such banks as the authority may direct and shall be withdrawn therefrom in such manner as the authority may direct.
(2)(A) Each authority shall keep strict account of all of its receipts and expenditures and each quarter shall make a report to the counties and municipalities which have made contributions.
(B)(i) The report shall contain an itemized account of its receipts and disbursements during the preceding quarter.
(ii) The report shall be made within sixty (60) days after the termination of the quarter.
(b)(1)(A) Within one hundred fifty (150) days after the end of each fiscal year, each authority shall cause an annual audit to be made by an independent certified public accountant and shall file a copy of the resulting audit report with each of the governing bodies participating in the authority.
(B) This audit shall contain an itemized statement of its receipts and disbursements for the preceding year.
(2) The books, records, and accounts of each authority shall be subject to audit and examination by any proper public official or body in the manner provided by law.
(c) The agreement provided for in § 14-362-103 may also provide for each authority to furnish the participating governing bodies copies of its annual budget for examination and approval.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-362-103. Establishment of authorities.
(a)(1) Any two (2) or more municipalities, any two (2) or more contiguous counties, or any one (1) or more municipalities together with any one (1) or more contiguous counties, are authorized to create and establish an authority as prescribed in this chapter for the purpose of acquiring, equipping, constructing, maintaining, and operating regional airports.
(2) No county or municipality shall participate in such authority unless and until its governing body so provides by ordinance and enters into an agreement with the other participating governmental units establishing the terms and conditions for the operation of the authority within the limitations provided in this chapter and such other laws of the State of Arkansas as may be applicable.
(b) The state may join in the creation and establishment of any authority if the regional airport to be acquired, equipped, constructed, maintained, or operated is a major airport facility. The state shall not participate in any authority unless and until the Governor so provides by proclamation and enters into the agreement with the other participating governmental units. The agreement with the other participating governmental units shall be executed by the Governor.
(c) To the extent that it is consistent with this chapter, the agreement shall specify the information provided for in § 25-20-104(c).
(d) The agreement shall be filed with the Secretary of State.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-362-103
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-362-103. This identifies an authority to review, not proof of applicability.