Statute · California Government Code
Cal. Gov't Code § 66540.54 — Funding
Cal. Gov't Code § 66540.54
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2009-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) The authority shall maintain accounting records and shall report accounting transactions in accordance with generally accepted accounting principles as adopted by the Governmental Accounting Standards Board (GASB) of the Financial Accounting Foundation for both public reporting purposes and…
Citator
Cal. Gov't Code § 66540.54 — Funding is in force in the current edition of the Code, and nothing recorded condemns it.
(a) The authority shall maintain accounting records and shall report accounting transactions in accordance with generally accepted accounting principles as adopted by the Governmental Accounting Standards Board (GASB) of the Financial Accounting Foundation for both public reporting purposes and for reporting of activities to the Controller.
(b) The authority shall contract with an independent certified public accountant for an annual audit of the financial records, books, and performance of the authority. The accountant shall submit a report of the audit to the board and the board shall make copies of the report available to the public and the appropriate policy and fiscal committees of the Legislature.