49-38-2. Annual audit by department of legislative audits--Filing with auditor-general--Cost of audit.
The fiscal year of a consumers power district shall coincide with the calendar year. The board of directors, at the close of each year's business, shall cause an audit of the books, records, and financial affairs of the district to be made by the South Dakota Department of Legislative Audits or by a certified public accountant or firm of such accountants, who shall be selected by the district, subject to the approval of the auditor-general of South Dakota. The audit shall be in a form prescribed by the auditor-general and shall contain and show the items set forth in this chapter. When the audit has been examined and approved by the auditor-general, written copies thereof shall be placed and kept on file at the principal place of business of the district, and shall be filed with the auditor-general within one hundred and twenty days after December thirty-first of each year. Each district shall pay the cost of such audit.
Source: SL 1950 (SS), ch 17, §33; SDC Supp 1960, §52.1733; SL 1989, ch 403, §23.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Chapter 38 - Consumers Power District Records, Accounts And Reports
Section 49-38-1 - Minutes of meetings--Books of account--Place of keeping--Public inspection.
Section 49-38-3 - Contents of audit.
Section 49-38-4 - Time for audit--Furnishing information to auditor.
Section 49-38-7 - Expenditure of district moneys--Approval by board of directors.