§ 159B-30. Annual reports.
§ 159B‑30. Annualreports.
Each joint agency shall, following the closing of each fiscal year,submit an annual report of its activities for the preceding year to thegoverning boards of its member municipalities and to the North CarolinaUtilities Commission. Each such report shall set forth in a form prescribed bythe North Carolina Utilities Commission a complete operating and financialstatement covering the operations of the joint agency during such year. Thejoint agency shall cause an audit of its books of record and accounts to bemade at least once in each year by certified public accountant(s) and the costthereof may be treated as a part of the cost of construction of a project orprojects, or otherwise as part of the expense of administration of a projectcovered by such audit.
The municipalities possessing ownership interests in a project shall,following the closing of each fiscal year, submit a consolidated or combinedannual report of their activities with respect to such project for the precedingyear to the respective governing board of such municipalities and to the NorthCarolina Utilities Commission. Each such report shall set forth in a formprescribed by the North Carolina Utilities Commission a complete operating andfinancial statement covering the operations of the jointly owned project duringsuch year. The municipalities possessing ownership interests in a project shallcause an audit of the books of record and accounts relating to such project tobe made at least once in each year by certified public accountant(s) and thecost thereof may be treated as a cost of construction of the project, orotherwise as part of the expenses of the administration of the project coveredby such audit. (1975, c. 186, s.1.)