PART IV. FUNDS OF AUTHORITIES.
§8-27-11. 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 any other 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as its board may direct and shall be withdrawn therefrom only in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 and such report shall contain an itemized
account of its receipts and disbursements during the preceding
quarter. Such report 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 deem 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 of West Virginia.