(a) As used in this section, unless the context otherwise requires:
(1) “Commission” means the Arkansas Soil and Water Conservation Commission; and
(2) “District” means all levee, drainage, irrigation, watershed, and river impoundment districts.
(b) Financial reporting.
(1) On or before March 1 of each year, each district shall file with the county clerk where the majority of lands in a district are located a financial statement as of the preceding December 31.
(2) The financial statements shall include, but not be limited to, the following:
(A) A statement of revenues, expenses, and fund balances;
(B) A balance sheet;
(C) A statement of the cash on hand as of January 1 of the year for which the report is made, together with all other assets of the district;
(D) The total receipts for the preceding year;
(E) The disbursements for administration, construction, and maintenance for bonds redeemed and for interest paid on outstanding bonds; and
(F) Interest due on outstanding bonds, together with all other indebtedness of the district.
(3) Each district's accounts shall be open for inspection according to the rules governing freedom of information as set forth in § 25-19-101 et seq.
(4) Failure of an official to perform the duties and acts required herein shall be a violation punishable by a fine of not less than one hundred dollars ($100) and not more than one thousand dollars ($1,000).