2021 Tennessee Code
Part 1 - Tennessee Housing Development Agency Act
§ 13-23-112. Officers — Executive Director — Secretary — Audit and Budget Committee

The vice chair of the agency;
The state treasurer;
The secretary of state; and
Two (2) members appointed annually by the chair from among the appointed members of the board.
The state treasurer shall serve as the chair of the audit and budget committee in even years and the secretary of state shall serve as the chair of the audit and budget committee in odd years beginning in 2013, and alternating thereafter.
The agency's director of internal audit shall serve as the secretary for the committee. The agency's director of internal audit shall serve at the pleasure of the committee. The committee has the authority to employ, terminate and establish the salary of the director of internal audit.
Three (3) or more members of the audit and budget committee shall constitute a quorum and the concurring vote of three (3) members shall be required for the approval of matters coming before the committee. Written minutes of all meetings shall be prepared by the secretary and kept on file, open to public inspection. The audit and budget committee shall be charged with the responsibility of monitoring agency financial and programmatic controls, including potential conflicts of interest of agency members and staff. To carry out these responsibilities, the committee shall review reports from the agency internal audit staff and shall review agency financial and programmatic controls at least annually, and shall review and submit the annual agency budget to the bond finance committee and the board.

Structure 2021 Tennessee Code