Connecticut General Statutes
Chapter 574 - Connecticut Retirement Security Authority. Connecticut Retirement Security Exchange
Section 31-426. - Annual report. Audit. Memoranda of understanding.

(a) The Connecticut Retirement Security Authority shall keep an accurate account of all its activities, receipts and expenditures and shall submit, in accordance with the provisions of section 11-4a, a report detailing such activities, receipts and expenditures to the Connecticut Retirement Security Authority board of directors, the Governor, the Office of Auditors of Public Accounts and the joint standing committees of the General Assembly having cognizance of matters relating to labor and finance, revenue and bonding on or before December thirty-first annually. Such report shall be in a form prescribed by the board and shall include projected activities of the authority for the next fiscal year.

(b) The Auditors of Public Accounts may conduct a full audit of the books and accounts of the authority pertaining to such activities, receipts and expenditures, personnel, services or facilities, in accordance with the provisions of chapter 12 and section 2-90. For the purposes of such audit, the Auditors of Public Accounts shall have access to the properties and records of the authority.
(c) The authority shall enter into memoranda of understanding with the State Comptroller pursuant to which the authority shall provide, in such form and manner as prescribed by the State Comptroller, information that may include, but need not be limited to, the current revenues and expenses of the authority, the sources or recipients of such revenues or expenses, the date such revenues or expenses were received or dispersed and the amount and the category of such revenues or expenses. The State Comptroller shall also enter into such memoranda of understanding.
(P.A. 16-29, S. 11; May Sp. Sess. P.A. 16-3, S. 104, 207; P.A. 21-145, S. 7.)
History: P.A. 16-29 effective May 27, 2016; May Sp. Sess. P.A. 16-3 changed effective date of P.A. 16-29, S. 11, from May 27, 2016, to January 1, 2017, effective June 2, 2016, and amended Subsec. (c) by changing “shall” to “may” re State Comptroller entering into memoranda of understanding, effective January 1, 2017; P.A. 21-145 amended Subsec. (a) by deleting requirement that report be subject to approval by the auditors and amended Subsec. (b) by adding reference to Ch. 12 and deleting authorization for auditors to prescribe methods of accounting and rendering of reports.

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