147-69.9. Third-party audit of State Treasurer's investments.
(a) In addition to all other audits and reports required by the law, the State Treasurer shall prepare and issue, at the end of each fiscal year beginning with the 2015-2016 fiscal year, a set of consolidated stand-alone financial statements regarding investments authorized in G.S. 147-69.1 and G.S. 147-69.2. These financial statements shall be audited by a commercial independent third-party audit firm selected and engaged by the State Treasurer. The audit firm's report and the financial statement shall be provided to the Joint Legislative Commission on Governmental Operations, the House of Representative Appropriations Committee, the Senate Appropriations/Base Budget Committee, and the Fiscal Research Division within six months after the closing of the reporting period.
(b) The management discussion and analysis section of the report accompanying the financial statements shall include a discussion of the investment programs' risk and returns compared to benchmarks, total management fees and incentives paid, and comparison to peer cost benchmarks. (2016-55, s. 3.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 147-65 - Salary of State Treasurer.
§ 147-66 - Office and office hours.
§ 147-68 - To receive and disburse moneys; to make reports.
§ 147-68.1 - Banking operations.
§ 147-68.2 - Confidentiality of warrants issued by the State.
§ 147-69 - Deposits of State funds in banks and savings and loan associations regulated.
§ 147-69.1 - Investments authorized for General Fund and Highway Funds assets.
§ 147-69.2 - Investments authorized for special funds held by State Treasurer.
§ 147-69.2A - Investments; special funds held by the State Treasurer.
§ 147-69.3 - Administration of State Treasurer's investment programs.
§ 147-69.3A - Liability insurance for State Treasurer.
§ 147-69.5 - Local Government Law Enforcement Special Separation Allowance Fund.
§ 147-69.6 - Swain County Settlement Trust Fund.
§ 147-69.7 - Discharge of duties to funds.
§ 147-69.8 - Annual report on new investment authority.
§ 147-69.9 - Third-party audit of State Treasurer's investments.
§ 147-69.10 - Investment policies and performance reviews of Retirement Systems investment programs.
§ 147-69.11 - Ethics policies.
§ 147-69.12 - Reporting on the State Treasurer's investment programs.
§ 147-70 - To make short-term notes in emergencies.
§ 147-71 - May demand and sue for money and property of State.
§ 147-72 - Ex officio treasurer of State institutions; duties as such.
§ 147-73 - Office of treasurer of each State institution abolished.
§ 147-74 - Office of State Treasurer declared office of deposit and disbursement.
§ 147-75 - Deputy to act for Treasurer.
§ 147-75.1 - Criminal record checks for the Department of State Treasurer.
§ 147-76 - Liability for false entries in his books.
§ 147-76.1 - Require deposit into the State treasury of funds received by the State.
§ 147-77 - Daily deposit of funds to credit of Treasurer.
§ 147-78 - Treasurer to select depositories.
§ 147-78.1 - Good faith deposits; use of master trust.
§ 147-79 - Deposits to be secured; reports of depositories.
§ 147-80 - Deposit in other banks unlawful; liability.
§ 147-81 - Number of depositories; contract.
§ 147-82 - Accounts of funds kept separate.
§ 147-83 - Receipts from federal government not affected.
§ 147-84 - Refund of excess payments.
§ 147-86 - Additional clerical assistance authorized; compensation and duties.
§ 147-86.1 - Pool account for local government unemployment compensation.
§ 147-86.2 - Information Technology fees; dispute resolution panel.