§7-15-11. Contributions to authorities; funds and accounts of
authorities; reports; audit by state tax department.
Contributions may be made to authorities from time to time by
the participating governments and by the state of West Virginia,
the United States of America, municipalities, counties or persons
that shall desire to do so. All such funds and all of the other
funds received by any authority shall be deposited in a separate
account in such banking institution or institutions as its board
may direct and shall be withdrawn therefrom only in such manner as
its board may direct. Each authority shall keep strict account of
all its receipts and expenditures and shall make a quarterly report
to the participating governments which have made contributions to
it. The report shall contain an itemized account of the
authority's receipts and disbursements during the preceding quarter
and shall be made within sixty days after the termination of the
quarter. Within ninety days after the end of each fiscal year,
each authority shall make an annual report containing an itemized
statement of its receipts and disbursements for the preceding
fiscal year, and any and all other information which the board may
consider pertinent, to all of the participating governments. The
books, records and accounts of each authority shall be subject to
audit and examination by the state tax department.
Note: WV Code updated with legislation passed through the 2015 Regular Session
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