Arkansas Code
Subchapter 8 - Workforce Development Center Authority Act
§ 6-50-809. Accounts — Report — Audit

(a)
(1) The board of directors of a workforce development center authority:
(A) Shall deposit the funds received by the workforce development center authority into bank accounts as determined by the board of directors; and
(B) May withdraw funds from the bank accounts as determined by the board of directors.

(2)
(A) Each workforce development center authority shall:
(i) Keep strict account of all of its receipts and expenditures; and
(ii) Make a report each quarter to the governing bodies of each sponsor.

(B) The report shall contain an itemized account of the workforce development center authority's receipts and disbursements during the preceding quarter.
(C) The report shall be made within sixty (60) days after the end of the quarter.

(b)
(1)
(A)
(i) Within sixty (60) days after the end of each fiscal year, each workforce development center authority shall cause an annual audit to be made by an independent certified public accountant.
(ii) Each workforce development center authority shall file a copy of the resulting audit report with the governing bodies of each sponsor.

(B) The audit shall contain an itemized statement of the workforce development center authority's receipts and disbursements for the preceding year.

(2) The books, records, and accounts of each workforce development center authority shall be subject to audit and examination by any proper public official or body in the manner provided by law.