Audit report.

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  • (1) The authority shall, within 180 days after the end of the authority's fiscal year, file a copy of the audit report with the county auditor, the State Tax Commission, the State Board of Education, and each taxing entity that levies a tax on property from which the authority collects property tax allocation.
  • (2) Each audit report under Subsection (1) shall include:
    • (a) the property tax allocation collected by the authority for each project area;
    • (b) the outstanding principal amount of bonds issued or other loans incurred to finance the costs associated with the authority's project areas; and
    • (c) the actual amount expended for:
      • (i) acquisition of property;
      • (ii) site improvements or site preparation costs;
      • (iii) installation of public utilities or other public improvements; and
      • (iv) administrative costs of the authority.




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