Each authority, promptly following the close of the calendar year, shall submit an annual report of its activities for the preceding year to the governing body of its member governmental unit. Each such report shall set forth a complete operating and financial statement covering the operation of the authority during such year. The authority shall cause an audit of its books and accounts to be made at least once each year by a certified public accountant, and the cost thereof may be treated as part of the cost of a project, or otherwise as part of the expense of operation of the project by such audit.
1979, c. 416, § 15.1-1629; 1997, c. 587.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 54 - Electric Authorities Act
§ 15.2-5401. Intent of General Assembly
§ 15.2-5403. Creation of electric authority; referendum
§ 15.2-5404. Articles of incorporation
§ 15.2-5405.1. Applicability of personnel and procurement procedures to certain authorities
§ 15.2-5406. Rights, powers and duties of authority
§ 15.2-5406.1. Retail distribution of electric energy limited to certain authorities
§ 15.2-5406.2. Tort claims against certain authorities
§ 15.2-5407. Membership in more than one authority
§ 15.2-5409. Sale of capacity and output to nonmembers; limitations
§ 15.2-5411. Contracts for planning, acquisition, construction, etc., of projects
§ 15.2-5412. Issuance of bonds by authority
§ 15.2-5413. Interim receipts and temporary bonds; lost, stolen and destroyed bonds
§ 15.2-5414. Bonds not debts of Commonwealth or member governmental unit
§ 15.2-5415. Security for bonds; trust agreement; bond resolution
§ 15.2-5416. Rents, rates, fees and other charges
§ 15.2-5417. Moneys received deemed trust funds
§ 15.2-5418. Bondholders' and trustees' remedies
§ 15.2-5420. Status of bonds under Uniform Commercial Code
§ 15.2-5421. Bonds as legal investments and lawful security
§ 15.2-5422. Bonds exempt from taxation
§ 15.2-5423. Payments in lieu of property taxes; license tax
§ 15.2-5423.1. Exemption from taxation for certain authorities
§ 15.2-5424. Transfer, etc., of property of political subdivisions upon request of authority
§ 15.2-5427. Liability of members or officers
§ 15.2-5428. Dissolution of authority
§ 15.2-5429. Legislative consent to application of laws of other states
§ 15.2-5430. Provisions of chapter cumulative; construction
§ 15.2-5431. Provisions of chapter controlling over other statutes and charters