46A-1-70 Financial reporting of projects--Auditing.
Financial reporting of projects--Auditing.
It is hereby required, for the purpose of
financial reporting, each project to be owned and operated by the district will have its financial
affairs, expenditures, and revenues, set out clearly in the financial statement and that the South
Dakota auditor general will audit each project on a separate basis and attest to the aforementioned
financial condition of each separate project as presented in the financial report. The Board of Water
and Natural Resources may accept a financial audit performed by a qualified independent auditor
in lieu of an audit by the auditor general. A financing arrangement or financing agreement entered
into by the district may contain provisions requiring the person or public entity receiving the
financing to submit financial reports and audits.
Source: SL 1972, ch 241, § 56; SL 1979, ch 301, § 11; SL 1981 (2d SS), ch 1, § 19; SDCL Supp,